CEDIA is offering a new Profit Action Plan tool to CEDIA members. This tool provides business owners with a customized report outlining how their company compares to companies of similar size, the industry median and the most profitable companies. Similar reports would cost companies more than $2,500, reported CEDIA.

“The Profit Action Plan is a benefit all home technology professional members should utilize,” said Cris Pyle, CEDIA senior director of marketing. “Each company’s plan includes detailed perspectives and suggestions on a variety of key business pain points such as inventory management, controlling expenses and of course generating revenue. Home Technology Professionals really have no excuse not to take advantage of an expert’s analysis of their company to understand how they can improve.”

CEDIA has worked to make this tool easy and accessible for members; the Profit Action Plan can be completed in as little as 30 minutes. CEDIA members simply need to complete a short questionnaire and submit their balance sheets and income statements to CEDIA’s confidential project vendor, Profit Planning Group. CEDIA staff and leadership will never have access to individual company information at any time. 

The output is a personalized 25-page document and access to the Profit Tool Kit, an online worksheet that helps home tech pros easily test and plan improvements to increase their firm’s profitability. 

CEDIA members may start submitting their materials for their customized Profit Action Plan today. Additional information can be found at www.cedia.net/profit-plan.