Cost of Doing Business FAQ

Why participate in this survey?

Your participation is vital for benchmarking against competitors, assessing financial performance, and gaining unique insights for enhancing profitability and operational efficiency. Participants will receive a free electronic copy of the comprehensive report.

Is my data secure?

Absolutely. We use Qualtrics to administer the survey, which adheres to the highest security and confidentiality standards. Every response is anonymized and used solely to analyze the restoration industry's financial health and standards collectively.

Is my data anonymous?

Yes, the survey is 100% anonymous. We ensure your privacy and the confidentiality of your data throughout the process.

What do I need to complete the survey?

Have your FY2024 financial statements ready and on hand for a smooth survey experience.

How much time will this survey take?

Allocating 60-90 minutes should be enough to complete the survey. You can save your progress and return to it if needed.

How does the cost of doing business support advocacy within RIA?

The Cost of Doing Business Report provides RIA with real, anonymous financial data from restoration companies, allowing us to advocate more effectively on issues like fair pricing, payment practices, and contractor rights. This data strengthens our voice with insurers, legislators, and stakeholders by replacing anecdotal claims with credible, industry-wide benchmarks. It’s a vital tool in advancing policies that support a more sustainable and equitable future for restoration professionals. You can learn more about Advocacy and RIA here: https://www.restorationindustry.org/advocacy-and-government-affairs-AGA

Who is the ideal respondent for this survey?

The survey is best completed by a CFO, senior accountant, bookkeeper, or individuals familiar with your company's financial details and operational cost

Can a franchisor complete the Cost of Doing Business Survey on behalf of its franchisees?

While franchisors can assist in data collection, each franchise location must submit its own survey response. Each location's unique financial data is essential for accurate benchmarks, and consolidated reports or averages do not capture the nuanced differences between locations. Independent participation guarantees that responses reflect each franchisee's individual operations and financial realities.

If your franchise has centralized accounting, the accounting team can assist each location in submitting their individual responses, ensuring accuracy while maintaining the required individual data entries.

What currency should I report all my financial information in?

Please report all financial information in USD for uniformity across responses. If you're outside the U.S., convert all financial data to USD using a currency conversion tool.

I just finished the survey, what's next?

Thank you for completing the survey! Your response is now part of a powerful, anonymous data set that will help shape the 2026 Cost of Doing Business Report. Stay tuned for updates, participants will receive early access when the report is released, and you can explore additional advocacy and business resources at restorationindustry.org 

I have more questions, where can I find answers?

For further inquiries, reach out to us at info@restorationindustry.org