by Brianna Crandall — May 25, 2018 — The Professional Retail Store Maintenance Association (PRSM), the authority on retail, multi-site facilities management (FM), has just released its 2017 Retail Facilities Maintenance Industry Overview Benchmarking Report. This report, created from member-survey data, provides valuable insights and factual comparisons of financial and operational benchmarking data and enables retail facilities managers (FMs) to make better, data-based decisions.
The study lets retail FMs see how their budget compares to industry peers, and illustrates how retail FMs increasingly face more challenges, such as managing aging properties and the skills gap that creates a lack of skilled trades staff. While it’s no surprise, notes PRSM, facilities maintenance trades are often outsourced (91%), whereas outsourcing professional staff rarely occurs (17%).
According to Bill Yanek, PRSM CEO:
FMs are under more pressure to perform than ever before. We are confident the information presented in this report will provide accurate, actionable data to show FMs where they stand in the industry and how they can improve.
Another prominent statistic shows 67% of facility maintenance budgets is spent on corrective maintenance, while only 33% goes toward preventive maintenance.
The report includes over 90 graphs illustrating budgets, organization, supplier management, demographics and sustainability. It provides key supplier data, retail performance information, and best practices and tools for actionable next steps.
Some 30% of PRSM’s retailer members and 20% of supplier company members submitted information via prsmbenchmarkingtool.com, powered by Dynamic Benchmarking. A variety of different store types are represented, including apparel, banking/financial services, convenience stores/gas stations, chain drug stores/pharmacies, discount stores, grocery stores, medical/dental and many others.
The full 2017 Retail Facilities Maintenance Industry Overview Benchmarking Report is available from the PRSM website.