Each year AWMA, in partnership with Al Bates and The Profit Planning Group (PPG), publishes the Hershey Industry Performance Analysis (HIPA) Report--the best source of financial benchmarks for our industry.  It provides answers to questions such as, “Are the most successful firms in a down market placing more emphasis on gross margin management or expense control?”  In short, this report provides a wealth of financial and operating guidelines as well as direct comparisons between your firm and other participating firms.  And the report is ONLY available to those who participate in the study by completing the HIPA Survey.

In return for your participation, you will receive:

•    The HIPA Report--A financial and operating profile of the entire industry (only distributed to participating companies).
•    Profit Improvement Profile—A confidential report sent directly to you comparing your company with similar participating companies.  Many companies take this report to the bank to discuss loans and lines of credit.
•    Profit Toolkit Online—a Microsoft Excel spreadsheet to assist your financial planning.  
•    Profit Development Quickies (PDQs)—a link to an Excel file where your staff can enter a few numbers for your firm and then watch a video—this can be used to train key associates on what drives profit while referencing your own company figures or for a typical industry firm if you prefer not to enter your own numbers.

Completing the HIPA Survey does take time and effort.  But that time is well worth the industry information you will receive -- information you cannot get anywhere else -- information that will impact your future decision-making.  And remember, you can shortcut the time involved by submitting a detailed balance sheet, and PPG will complete the “Balance Sheet” section for you; similarly, you can submit a detailed copy of your income statement, and PPG will complete the “Income Statement” section for you.  So that is two of four sections that could be handled with ease.

The good news is that the deadline for the HIPA Survey has been extended to May 31.  That will be the final extension.  

I want to thank so many of our member distributors who have already returned their surveys.  For those who have not, please utilize this extension to participate in this very important research.