Firms Report Healthy Ratios Despite Covid-19!

Despite the fact that our recent “Survey of Surveys” was geared toward determining future industry surveys, we were able to gleam some “up-to-the-minute” data on industry sales and the impact of Covid-19.

We asked participants a variety of questions regarding not only year-end sales for 2019 but projected year-end sales for 2020 as well as 2021. We also explored interim sales for 2020 as well as questions related to number of employees employed at different periods in 2020.

Below is some of the preliminary data we received. The data below is based upon approximately the first 50 responses. Our experience, however, is that the average and medians reported below are unlikely to change, even as we surpass 100 or more response.

Note that we excluded data for firms reporting 2019 sales of less than $300,000 or greater than $5,000,000. Despite these exclusions, the data pertaining percentage increases in sales and current or projected Sales Per Employee (SPE) would have changed very little.                                                                

Key Ratios Average Median
Annual Sales 2019 $1,877,087 $1,117,989
Projected Sales 2020 $1,625,506 $877,500
Projected Sales 2021 $1,814,238 $756,942
% +/- Sales 2020 vs. 2019 -13.4% -21.5%
Projected SPE 2020 $142,576 $121,071
% +/- in SPE 2019 vs. 2020 -3.1%  -12.6%

The data above is similar, but not the same as we have reported in recent Covid-19 Survey Reports. Each of our surveys tend to attract similarly active, somewhat larger and involved industry members, but not all participate to the same degree as others.

Nonetheless, our recent industry surveys have tended to attract not only larger firms, but what appears to be healthy firms as well, based upon their reported healthy SPEs. These firms appear to be surviving quite well, considering Covid-19 and the challenges it has wrought.

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