Looking at the list of Top Shops, a large number are franchises. Still, lest we think that it was all-COVID all the time for everyone, we added an open-ended question “How has the COVID-19 pandemic affected your business?” and at least four respondents-including one of our Top 6-wrote in: “COVID did not have a measurable impact on my business” or “not applicable.” So nice work if you can get it! Our survey was being conducted in April and May of this year, so the survey responses reflect an industry in recovery mode, but still licking their wounds. The theme of last year’s Top Shops survey was surviving the COVID-19 pandemic, and this year’s theme is the recovery-or, as I like to call it, the aftermath. Anecdotally, some of this year’s winners said they are already on track to achieve that. If we look at revenues for our top shops, 28% saw a 25%+ decrease in revenues in 2020 from 2019, and only 8% said 2020 saw a 10%+ increase over 2019-but one-half of top shops are expecting a 10%+ increase in revenues in 2021. In 2020, the shops included in our Top 100 list accounted for just under half a billion dollars in revenue-$463,870,216, representing a 16% decline from 2019 which was not surprising given the pandemic year. (Last year’s winner had barely qualified at $24.99 million, but this year exceeded our limit.) Our Top Shop this year came in at $21.32 million. The key word is “small” the upper limit for participation at $25 million in annual revenues. Each year, WhatTheyThink | Printing News invites small commercial print business owners to participate in our Top 100 Shops Survey.
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