2003 vs 2004 HOW DID YOU DO? (2/05 Poll)

WAS 2004 MORE PROFITABLE THAN 2003? (gross sales)

  • I was not open both years

    Votes: 0 0.0%
  • Sales were UP 100-199%

    Votes: 0 0.0%
  • Sales were DOWN 30-39%

    Votes: 0 0.0%
  • Sales were DOWN 50-74%

    Votes: 0 0.0%
  • Sales were DOWN 75-99%

    Votes: 0 0.0%
  • Sales were DOWN 100-199%

    Votes: 0 0.0%
  • Sales were DOWN 200% or more

    Votes: 0 0.0%

  • Total voters
    93

Mike Labbe

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Get The Picture
FEB 2005 POLL & DISCUSSION - ARE THINGS FINALLY TURNING AROUND?

Your input and discussion are greatly appreciated!


A survey that compares how 2003 was compared to 2004.

RESULTS from previous surveys: www.custompictureframing.com/poll_results.htm

Mike

Note: your answers are confidential
 
Framing was up only about 3-4% so I checked that catagory on the survey since it's about framing(?)but like many others here framing is not the only thing we do. Overall, framing is a little less than half of our business, art supplies being the better(?) half. Art supplies are down and overall business declined probably close to 10%. And thats compared to 2003 which was a lousy year. In fact, as many of you have probably seen, the last good year was 2001 and the decline started during the end of that dark time. On the plus side finally overhead (expenses) have leveled off and cost of goods has come under better control. The average framing order has gone up. My own line of frames, (custom finishes, carving, gilding etc.) are now the #2 seller. A distant #2 behind LJ (@ about 45%), but #2 (about 12%). Another 12 vendors or so split up the rest. Maybe those that gots, gots most of the pie and I can pick up a few crumbs? 27 yr in business. 2000 into 2001 were probably the high water mark.

[ 02-03-2005, 12:04 PM: Message edited by: Terry Hart cpf ]
 
These polls are great fun, but I'm not sure we learn much from them.

I think all stores have a maturation process where, for the first several years, double digit (even high double digit) increases should be the norm.

The post-5 years figures ought to be more moderate and the post 10 years, even less.

I had a lady, quite proud of her accomplishment, in Vegas tell me she had a 50% increase last year.

It was her second year, the first being not quite a full year, and she went from under $80K to around $125K in 2004.

Sometimes we get caught up in these percentages when her revenue really told the tale.

If you had a modest single digit increase and you have been in biz over 5 yrs, I think you did well. If you had a double digit increase, and like so many that had lousy years in 2003, then you did well, again

If you had double digit increase over plan, had a pretty good 2003 and have been around for a while, then you get award and ought to be sharing your wisdom

At the end of the day, it's all about rocks in the box
 
I was up the first part of 2004 but business dropped a little the second half untill Christman and then it was better than 2003.

Over all we grew very little in the year 2004. But we did grow. So I guess that's a good thing

Jennifer
 
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