According to VITAL Management, the potential annual profit miss being made by the top 1,000 dealers in the CI business is roughly $100 million. So, the founders of VITAL Management—Paul Starkey and Steve Firszt—have issued a challenge to the custom integration industry: For every company that signs up for VITAL’s services, if VITAL can help them improve their bottom line and get some of those lost dollars back, they’ll donate the entire $250 set-up fee and 10 percent of the fees collected for its Get It Right program to Habitat for Humanity.
“Close to 100% of the engagement’s we’ve had reveal significant profit dollars being left behind,” Firszt claimed in a statement announcing the Challenge. “Whether caused by improper counting practices, lack of profit planning, poor labor productivity, inefficient process – it’s always more than just one thing – corrective actions can bring new profit to these companies.”
VITAL’s goal for the Challenge, beyond recovering potential lost monies, is to generate $100,000 for Habitat by CEDIA Expo next month in Dallas, and an additional $100,000 for the program in 2016. To do that, VITAL is asking manufacturers to cosponsor the program.
Interested dealers are asked to complete a registration form to be included on the donor list. That form can be found on the Get It Right page, along with information about the cost and other features of the program.
“We now have three options for helping companies achieve better profits: a benchmarking level, a financial management level and a financial/sales process level,” Starkey said. The respective monthly fees for each level are $250, $1,000 and $2,000. “Companies can choose which plan and how far they want to take the improvement process.”
Participating dealers can choose their play, sign the 12-month Get It Right agreement, and get going from there.