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A Closer Look
At first look, the total sales of this year’s Top 100 ranking distributorships were shocking. Despite the continuing recession in 2009, total sales of this year’s Top 100 companies reached $2.4 billion, compared to slightly more than $2 billion last year—a 20% increase. However, this year’s No.1 company, WorkflowOne, did not participate in the survey last year. Had WorkflowOne elected not to participate this year, total sales among the Top 100 would have dropped to roughly $1.8 billion. In reality, the industry as a whole experienced about a 10% decrease in sales throughout 2009. Even WorkflowOne, reporting sales of $662 million for FY 2009, recorded a 20% loss from 2008. Only 26 companies among the Top 100 reported a profit for FY 2009, compared to 60 in FY 2008. While these numbers are bleak, further analysis demonstrates the recession began to slow in 2009 and gives hope that the economy will continue its gradual rebound throughout 2010. Between FY 2007 and FY 2008, average growth among the Top 100 distributorships dropped from nearly 9% to 2%. For FY 2009, average growth only dropped five points to -3%. Of those companies that posted a profit for FY 2009, they grew at a slightly faster rate than those in FY 2008, from an average rate of 18% to 21%. Those that experienced losses did so at a lesser rate as well, from -12% in FY 2008 to -11% for FY 2009.
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