Benchmarking

Benchmarking and Industry Profiles

Do you know if your business is performing better, worse or on par with others in your industry. 

Benchmarking is one way to measure your business performance.  A benchmark report will typically reveal average revenues and cost in terms of a percent of revenue. 

From this you can determine typical profit levels, wages, cost of goods to income and overheads along with other important ratios.

Benchmarking Sources 

Don't rely on one source of data, and consider the quality of the data. If your business is supported by an industry association, they will most likely have benchmarking and industry profile data for its members. Some banks supply a basic list of industry benchmarking reports, along with a number of private organisations.

Sources include:

• • Industry Associations

  • Local Councils - Profile.id.com.au

  • IBISworld (Private)

  • FRMC Benchmarking (Private)

  • Australian Tax Office Benchmark Data (Free)

  • Australian Bureau of Statistics