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Benchmark Calculator

Hearing Aid and Battery Data

The first pieces of information that you will begin to gather are your hearing aid sales history over the past 5 years.

Your data calculations: Sample data calculations:
# Hearing Aids sold in last 5 years  
350 - Current Year
+ +
340 - Year 2
+ +
280 - Year 3
+ +
300 - Year 4
+ +
310 - Year 5
= =
1580 - Total Hearing Aid Sales
# Hearing aid batteries sold (per battery cell)  
6000 - Current Year
$1.00 - Average Sale Price per Cell

Calculating Your Market Size and Market Share

The next step involves calculating the size of your local market and your share of that market.

1580 - Total Hearing Aid Sales
x x
36 - On average a consumer will use 36
= = batteries per year in one hearing aid
56,880 - Sample potential battery market

This figure sets the stage for the battery sales that you could experience should you retain 100% of the patients that you fit with hearing aids as hearing aid battery customers.

6000 - Sample Office's battery sales
÷ ÷
56,880 - Sample potential battery market
= =
11% - Sample office's market share

Now that you understand your market potential as compared with your current market share, we will take the next step and calculate potential revenue and profit - real dollars to your business operation!

56,880 - Sample potential battery market
x x
$1.00 - Average Sale Price per Cell
= =
$56,880 - Sample office's potential revenue
x x
50% - Sample office's profit margin
= =
$28,440 - Sample office's potential gross profit
x x
11% - Sample office's market share
= =
$3128.40 - Sample office's current gross profit

By comparing your potential gross profit and your current gross profit, you will be able to see the bottom line dollars that can make a financial impact on your practice.