The data collection process is underway for the ABACUS-10 Survey, an invaluable tool used by ABA members to analyze their stores’ financial results and make plans for the future.
In a new YouTube video, Nicole Magistro of Colorado’s The Bookworm of Edwards says ABACUS is “a great financial tool that you can take to your bank, to your landlord, or anyone else you need help from.” In 2007, Magistro relied on ABACUS survey results to help her make the decision to move Bookworm of Edwards to a higher traffic area, increase its square footage, and add a full-service cafe. ABACUS provides the “financial information to support your decisions and help you grow and expand your business, like we did,” she says.
“It’s simple to do — it takes less than an hour. Just pull the numbers right off your P&L and submit them to ABA. It will help them finish their survey for this year and help you grow and expand your business.”
Stores participating in the ABACUS-10 Survey will receive a free customized report analyzing their financial results, including comparisons with other businesses based on multiple criteria (such as sales level, store size, and community type) in addition to year-to-year trending information. Several new questions have been added this year based on suggestions from booksellers on ABA’s ABACUS Task Force. As a result, ABACUS-10 survey results will provide key new criteria for comparisons and analysis.
Data gathering is via a completely secure and confidential electronic form. Once submitted, data is only accessible to Martha Love of the National Association of College Stores’ (NACS) OnCampus Research, which is compiling and producing ABACUS-10 reports for ABA.
Information about participating in the survey and a unique survey I.D. number were sent to bookstore members on Friday, June 3, in an e-mail from Love bearing the subject line “ABACUS10 Survey STARTS TODAY.”