Interbike, the largest bicycle industry trade show in North America, has confirmed that its educational session from last year’s IBD Summit is back for 2013 with some added punch. This year, panellists will dive deeper into key metrics that will inform bike dealers how to increase profits immediately following the conference.
Taking place on 16-18 April in Monterey, California, the IBD Summit is positioned as ‘the premiere educational and networking event for independent bicycle retailers.’
Real-life testimonials will be shared and specific tools provided at the conference. The presentation also promises to show attendees how their businesses stack up against others and the industry.
“So many retailers, like me, think we’re doing great, but in all honesty we really don’t know how we stack up against others or the industry for that matter,” said Mike Hamannwright, owner of Revolution Cycles in Washington DC.
“This session promises to be great because we will give real-life examples from our own businesses on how to improve key areas in everyone’s businesses. The P2 Group has done the hard part and flushed out areas for improvement through sharing ideas and tackling tough issues. I can promise that any dealer thinking about attending will leave a lot smarter and armed with great ways to add profit – who doesn’t need that?”
Four of the nation’s top retailers will discuss in detail the following measurements:
Inventory turn by category
Understanding and measuring this metric will give owners a crystal clear picture of slow moving categories, more effective buying processes and dramatic improvement to cash flow.
Gross margin
Learn how this information will identify an IBDs biggest opportunities, and will maximize its return on inventory investment and purchasing strategies.
Gross profit per employee
With this unique metric, IBDs will learn how to measure their staff’s individual contribution to the gross profit of their store on a consistent and accurate basis.
“My involvement in the P2 Group has completely changed the way I think and operate my business,” said Chris Holmes of Bicycle World of Houston. “Over the last 12 months I’ve seen dramatic positive changes in revenue, profit and the overall health of my business – and I think IBDs across the country won’t find a better opportunity to gather real-time information specifically from the bicycle industry than during this panel at the IBD Summit.”
The P2 Group aims to offer ‘the ultimate experience for the specialty bicycle retailer’. This dynamic process brings together successful industry leaders to learn, brainstorm, evaluate and create a more successful business model. Those who participate have a track record of successful business, but they’re looking for more; more sales, more profitability, a better customer experience and a distinctive legacy of retail success.
Discounted registration is still available at US$595 for the IBD Summit until 29 March. After that date costs go to US$695.
As an incentive to all IBD Summit attending retailers, Interbike will be giving one special VIP card per store with hundreds of dollars of free and discounted benefits at the main Interbike 2013 show – including free food on the show floor, VIP access to select Interbike events and much more.
