In the early 1980s, Robert C. Camp at Xerox faced a hard truth — Japanese competitors were producing higher-quality products at lower cost. Instead of guessing, he created a system. Camp developed the first formal benchmarking process, studying the best in the world to identify what they did differently and how to close the gap. His 1989 book, Benchmarking:…
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Air conditioning, heating and refrigeration (often called HVAC) businesses aren’t guessing—the top 20% run on data. Accountants are uniquely placed to turn that data into action. Top-20% targets at a glance Revenue bands: small $500k–$1.2m · mid $1.2m–$3m · leaders $3.5m–$5m+ COGS 27–33% · Subcontractors 10–12% · Rent 2–5% Wages 20–25% · Overheads 8–13% · Owner’s salary…
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But let’s be clear: accountants are uniquely positioned to own it. You sit on the data, understand the numbers, and are trusted with the complete financial story. Everyone else guesses from the outside. Compliance is being commoditised. Software is eating it. “Advisory” can sound like a buzzword—until you anchor it in benchmarking. Benchmarking makes advisory tangible,…
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Most benchmarking tools compare businesses to the mean or median—the middle of the market. By definition, that includes underperforming businesses. But your clients don’t aspire to be average. They want to be among the best. That’s why TaxFitness benchmarks against the Top 20% of firms in each industry. It’s a method designed to: Set the bar higher Shift…
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Implementing industry: Building & construction Original service level: Annual compliance – $3,000/year Background Two years ago, a mid-sized accounting firm was providing basic compliance work for a building industry client. The business was turning over $12 million a year, but despite the size, profitability was low. Two working directors were taking home only $300,000 combined in…
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Yet real tax savings and business advisory breakthroughs come when you see everything, the full group structure, cash flow, financial history, and the client’s goals. TaxFitness brings it all together so you can deliver high-impact advice quickly, clearly, and confidently. Here’s how it works: One-time setup – Quickly import individuals and entities from XPM, and…
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Many accounting firms struggle to convert clients into tax planning or business advisory engagements. They offer valuable services, but face resistance or indifference. The core issue? They don’t truly understand their clients. Without clear insight into a client’s financial position and goals, firms pitch services that are irrelevant or poorly timed. The client disengages. The…
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Struggling to scale your HVAC business? Wondering what separates high-performing businesses from the rest? The top 20% of air conditioning, refrigeration, and heating businesses consistently hit elite-level benchmarks that drive growth, profitability, and customer loyalty. Here’s what industry leaders are doing right Key performance benchmarks (top 20%) Net profit margin: 10% – 15% COGS:…
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The best cosmetic injectables clinics don’t just survive—they thrive with higher revenue, strong client retention, and premium pricing strategies. Are you hitting these benchmarks? $1.2M+ annual revenue (only 5-10% of clinics exceed $2M!) $300 – $1,000 per client per visit 20%+ revenue growth year-over-year 60% – 80% client retention rate (repeat business is key!) 20%…
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The highest-performing accounting practices aren’t just profitable—they dominate the industry with smarter pricing, stronger client retention, and efficient operations. Are you hitting these benchmarks? 40-50% net profit margin $200K+ revenue per employee $1M+ revenue per partner 10-20% annual revenue growth $350-$500+ hourly rate for senior staff 95%+ client retention (client satisfaction = loyalty) 80-90% of…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2