NBAD Forms Canadian Clean P2 Cost-Effectiveness Project Group

Irvine, California – Last month, the The National Bicycle Dealers Association (NBDA) announced its efforts to strengthen its resources for Canadian members. The latest includes the formation of a Canada-specific P2 Profitability Project Group.

Launched in 2006, P2 is an NBDA initiative to provide specialty bicycle retailers with a collaborative resource to help them increase sales, profitability and customer experience. Since its conception, more than 90 retailers have participated. Currently, 45 US-based retailers are part of four groups. The new, uniquely Canadian group has 8 retailers. Non-competing retailers meet virtually monthly and in person twice a year to share, compare, network, review and analyze specific data from their businesses to assist each other in operations and strategy.

Heather Mason, NBDA President and P2 Program Moderator, commented, “Our Canadian retailers face unique challenges from our US retailers, and we wanted a group of peers who could really understand all of the unique facets of the bike industry. The current group of retailers is really dynamic, and we look forward to the growth of the group,” she said.

A key feature of the P2 program is its custom P2 Retail ToolKit data dashboard. Collecting metrics from participants, this dashboard compiles data to identify key performance indicators (KPIs) that are driving profitability and graphically illustrates for retailers their labor sales as a percentage of total sales, sales bicycles as a percentage of total sales, bicycle gross margins, average sales per transaction, sales growth, inventory turnover, and average transaction value growth, among other metrics. This dashboard shows retailers how their stores compare to top stores and the rest of the industry.

The NBAD only sees this as a start. “We continue to expand the program to better meet the needs of our retail members. We have room for retailers to join each of our P2 groups. With a maximum of 20 per group, we welcome additional members into the program as it enriches conversations and data,” added Rachelle Schouten, NBDA Director of Development.

The P2 Profitability Project is the ultimate group experience for the specialty bike retailer.

More information about P2 can be found at the NBAD website.

Retailers interested in joining a P2 group should contact Heather Mason at [email protected].

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The National Bicycle Dealers Association (NBDA) is the association of bicycle industry retailers established in 1946, representing and empowering specialty bicycle dealers in North America through education, communications, research, advocacy, discount programs for members and promotional opportunities. Some of its programs include Profitability Project (P2), a genius group for bicycle shop owners, and the Bicycle Retailer Excellence Awards accreditation program.

NBDA member benefits include credit card processing and point-of-sale discounts, programs, access to an online dealer forum, educational webinars and virtual peer-to-peer learning events for the members. The NBDA additionally offers savings to association members on software, communications and website service providers. Annual dues are $250 for retailers; $195 for mobile bike shops; $129 for individuals; $999 for companies associated with the bicycle industry with more than $500,000 in sales per year; and $699 for small businesses and industry sales representatives.

Maria R. Newman