Vital Management Group adds new members and reports strong YTD results
Executive Directors, Paul Starkey and Steve Firszt, reported profits of the group were up 168% from last year due to an improvement in margins and labor productivity. The Group’s operating profit increased an average of $144K per company and combined revenue for 9 months was $25.6M.
In addition to strong earnings, 5 new members have joined since the CEDIA Expo under the associate program for 2016. VITAL expects the Group to reach 20 members by early 2016. “We have more interest than ever in our performance system of helping owners operate at peak performance,” the Directors said in a statement.
“We continue to see improved operating performance and believe the current group has considerable room for improvement while efficiencies and productivity processes are put in place.”
VITAL uses a 9 metric graphic dashboard to track performance and the Group shares 22 benchmarking metrics. “The collective benefit of knowing where the ceiling is on performance has made all companies better.”
The Group remains optimistic about 4th Quarter results, which totaled half of the Group’s annual profit last year.
BRAVAS GROUP is a cooperative of independently owned dealers who jointly fund programs that otherwise would be difficult for individual dealers to fund. Associate members participate in the financial system benefits but do not participate in marketing, branding, and programs beyond the financial/operation portion. Members are from all major buying groups. BRAVAS is a unique service organization, not a buying group.
VITAL MGMT, founded by Paul Starkey and Steve Firszt, acts as the Executive Directors of the BRAVAS Cooperative. Their system, VITAL MGMT 2.0, allows dealers to improve their operating performance and benefit from shared metrics and benchmarks between companies.