Research
The research behind the benchmarks.
When Keystone compares your numbers with your industry, this is where every figure comes from. Each one names who published it, who was measured, the year, and links to the source so you can check it yourself. Where we looked and found no public figure, we say so instead of guessing.
50published figures, each linked
18publishers, such as the Bureau of Labor Statistics, NAHB and AICPA
20like for like enough to set a target
38measures with no public figure, listed below
How a figure makes it in
It has to be traceable
We read the figure on the publisher's own page. A number that only circulates second hand, or that we could not find at its source, is left out.
Targets need like for like
A figure can set a target only when it measures the same thing, the same way, for businesses like yours. 20 of 50 qualify.
Everything else is context
A national average, a larger-firm survey or a different way of measuring is shown for context with the reason, and never used as your target.
- Home services
- Construction and contracting
- Professional services
- Healthcare and wellness
- Restaurants and hospitality
- Real estate
- Retail
Home services
Plumbing · Heating and air conditioning · Electrical · Roofing · Landscaping and lawn care · Cleaning · Pest control or pool service · Auto repair
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Recordable injury rate (per 100 full-time workers)All typesTotal recordable cases | 2.3 cases per 100 full-time workers2024 | U.S. specialty trade contractors (NAICS 238) | U.S. Bureau of Labor StatisticsIndustries at a Glance: Specialty Trade Contractors (NAICS 238)Primary source, free | Can be a target |
| Call booking rateAll typesTypical call booking rate, June 2022 | 42%2022 | More than 3,000 U.S. and Canadian trade businesses using ServiceTitan; plumbing 43%, electrical 41%, HVAC 38% | ServiceTitanTypical call-booking rate for ServiceTitan users?vendor source, free | Context onlyOne vendor's customers, 2022 data |
| Gross marginPlumbingAverage gross margin; average revenue $1.68 million | 45%2021 | U.S. plumbing businesses in BizBuySell's data (NAICS 238220 subset); sample size not stated | BizBuySellRevenue and Profit Benchmarks: Plumbingvendor source, 2020 and 2021 free, later years paid | Context onlyMarketplace data with no stated sample, 2021 |
| Net profit marginPlumbingAverage net margin before tax | 13%2021 | U.S. plumbing businesses in BizBuySell's data (NAICS 238220 subset); sample size not stated | BizBuySellRevenue and Profit Benchmarks: Plumbingvendor source, 2020 and 2021 free, later years paid | Context onlyMarketplace data with no stated sample, 2021 |
| Staff turnover (annualized)All typesQuits rate, construction, August 2026 (revised; BLS table as of November 3, 2026) | 1.8 percent per month2026 | All U.S. employers in construction | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
| Net profit marginLandscaping and lawn careWeighted average operating profit margin, not net margin | 6.4%2023 | 144 U.S. landscape firms with $1 million to $140 million revenue | Landscape Management (The Herring Group data)Grow your green: These numbers tell a storysecondary source, free | Context onlyOperating profit, not net margin |
| Revenue growth (year over year)Landscaping and lawn careTypical sales growth in 2024 | 8.5%2024 | 142 landscape companies (344 locations) in the NALP benchmark | National Association of Landscape ProfessionalsGain competitive insights with the 2025 Financial Benchmark ReportPrimary source, summary free, report paid | Context onlyGrowth depends on your market and plan, so it is context, not a target |
| Recordable injury rate (per 100 full-time workers)All typesTotal recordable cases | 2.3 cases per 100 full-time workers2024 | All U.S. private industry | U.S. Bureau of Labor StatisticsEmployer-Reported Workplace Injuries and Illnesses, 2024Primary source, free | Context onlyAll private industry, not your trade |
6 measures with no public figure
- Gross margin. No public figure was found. Trade associations publish financial studies for members only.
- Net profit margin. No public figure was found.
- Recurring revenue share. No public figure was found.
- Net profit margin. No public figure was found.
- Gross margin. No public figure found for auto repair, cleaning, pest or pool service.
- Revenue per technician (monthly). No public figure found.
Construction and contracting
General contractor (commercial) · Remodeling · Home builder · Specialty subcontractor (concrete, framing, drywall, steel)
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Net profit marginAll typesNet income before taxes as % of revenue | 6.3%2023 | 1,290 U.S. contractors of all types; skews larger than most small businesses | CFMA2024 Construction Financial Benchmarker, Executive SummaryPrimary source, summary partly free, report paid | Context onlyPre-tax, and the sample runs larger than most small contractors |
| Overhead as % of revenueAll typesSelling, general and administrative expense as % of revenue | 11.8%2023 | 1,290 U.S. contractors of all types | CFMA2024 Construction Financial Benchmarker, Executive SummaryPrimary source, summary partly free, report paid | Context onlySample runs larger than most small contractors |
| Gross marginRemodelingAverage gross profit margin | 29.9%2024 | U.S. remodelers in the NAHB Cost of Doing Business Study; average revenue $2.7 million | NAHB (Eye on Housing)Remodelers saw profit margin gains in 2024Primary source, article free, study paid | Can be a target |
| Net profit marginRemodelingAverage net profit margin | 6.3%2024 | U.S. remodelers in the NAHB Cost of Doing Business Study; average revenue $2.7 million | NAHB (Eye on Housing)Remodelers saw profit margin gains in 2024Primary source, article free, study paid | Can be a target |
| Overhead as % of revenueRemodelingOperating expenses as % of revenue, including owner compensation | 23.6%2024 | U.S. remodelers in the NAHB Cost of Doing Business Study | NAHB (Eye on Housing)Remodelers saw profit margin gains in 2024Primary source, article free, study paid | Context onlyIncludes owner compensation, which most owners book differently |
| Gross marginHome builderAverage gross profit margin | 20.7%2023 | U.S. single-family builders in the NAHB Cost of Doing Business Study | NAHBNAHB's new study provides statistics and data on builder financial performancePrimary source, release free, study paid | Can be a target |
| Net profit marginHome builderAverage net profit margin | 8.7%2023 | U.S. single-family builders in the NAHB Cost of Doing Business Study | NAHBNAHB's new study provides statistics and data on builder financial performancePrimary source, release free, study paid | Can be a target |
| Recordable injury rate (per 100 full-time workers)All typesTotal recordable cases | 2.2 cases per 100 full-time workers2024 | U.S. private construction employers | U.S. Bureau of Labor StatisticsNumber and rate of nonfatal work injuries and illnesses, by industryPrimary source, free | Can be a target |
| Recordable injury rate (per 100 full-time workers)Specialty subcontractor (concrete, framing, drywall, steel)Total recordable cases | 2.3 cases per 100 full-time workers2024 | U.S. specialty trade contractors (NAICS 238) | U.S. Bureau of Labor StatisticsIndustries at a Glance: Specialty Trade Contractors (NAICS 238)Primary source, free | Can be a target |
| Staff turnover (annualized)All typesQuits rate, construction, August 2026 (revised; BLS table as of November 3, 2026) | 1.8 percent per month2026 | All U.S. employers in construction | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
6 measures with no public figure
- Gross margin. CFMA publishes gross margin for its best-in-class group only (21.8% in 2023), not for all contractors, so no typical figure is shown.
- Signed backlog. No public figure found.
- Days to get paid. Days in receivables is in CFMA's paid report only.
- Bid win rate. No public bid-hit ratio found.
- Retainage held by clients. No public figure found.
- Job profit fade (points). No public figure found.
Professional services
Accounting and bookkeeping · Management consulting · Marketing, design or creative agency · IT and managed services · Law firm · Engineering or architecture
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Billable utilizationAll typesAverage billable utilization | 66.4%2025 | 509 professional services organizations worldwide, mostly technology and consulting firms | SPI Research2026 Professional Services Maturity Benchmark (press release)Primary source, summary free, report paid | Context onlyWorldwide sample of larger, mostly technology firms; not like for like with a small local practice |
| Net profit marginAll typesEBITDA margin, not net profit margin | 9.8%2024 | SPI Research benchmark participants, worldwide | SPI ResearchThe Truth About Billable UtilizationPrimary source, article free, report paid | Context onlyMeasured as EBITDA, not net margin, on a worldwide sample of larger firms |
| Revenue growth (year over year)All typesAverage revenue growth | 5.2%2025 | 509 professional services organizations worldwide | SPI Research2026 Professional Services Maturity Benchmark (press release)Primary source, summary free, report paid | Context onlyWorldwide sample of larger firms |
| Revenue growth (year over year)Accounting and bookkeepingMedian growth in net client fees, fiscal 2024 | 6.7%2024 | 1,073 U.S. CPA firms; 81% have revenue of $5 million or less | AICPA2025 National MAP Survey (press release)Primary source, free | Can be a target |
| Net income per owner or partnerAccounting and bookkeepingNet remaining per partner or owner, fiscal 2024 | $252,6632024 | 1,073 U.S. CPA firms; 81% have revenue of $5 million or less | AICPA2025 National MAP Survey (press release)Primary source, free | Can be a target |
| Recordable injury rate (per 100 full-time workers)All typesTotal recordable cases | 0.7 cases per 100 full-time workers2024 | U.S. private employers in professional, scientific and technical services | U.S. Bureau of Labor StatisticsNumber and rate of nonfatal work injuries and illnesses, by industryPrimary source, free | Can be a target |
| Staff turnover (annualized)All typesQuits rate, professional and business services, August 2026 (revised; BLS table as of November 3, 2026) | 1.9 percent per month2026 | All U.S. employers in professional and business services | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
5 measures with no public figure
- Realization. Realization rates are published only in paid reports (SPI, MAP surveys). No public figure found.
- Revenue per full-time employee. No primary public figure found. A $199K figure circulates through a vendor's reanalysis reported second-hand; it is not used.
- Days to get paid. Days sales outstanding for small firms is in paid reports only.
- Gross margin. No public figure found for small firms.
- On-time rate. On-time delivery is in SPI's paid tables only.
Healthcare and wellness
Dental practice · Veterinary practice · Medical practice · Physical therapy, chiropractic or counseling · Hair, nail or beauty salon · Spa or med spa · Gym or fitness studio
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Revenue per provider (annual)Dental practiceAverage gross billings per owner dentist | $1,016,7902025 | U.S. owner dentists in private practice (ADA HPI Survey of Dental Practice) | Becker's Dental (reporting ADA Health Policy Institute data)Owner dentists averaged more than $1 million in gross billings in 2025secondary source, free | Context onlyGross billings, not collections, reported second-hand |
| Revenue per customer (annual)Veterinary practiceAverage annual revenue per patient, August 2023 to August 2024 | $6222024 | About 6,000 mostly small-animal U.S. general practices using Vetsource | AVMA News (citing Vetsource)Less foot traffic at veterinary practices spells declining revenuevendor source, free | Context onlyOne vendor's customers |
| Staff turnover (annualized)All typesQuits rate, health care and social assistance, August 2026 (revised; BLS table as of November 3, 2026) | 1.9 percent per month2026 | All U.S. employers in health care and social assistance | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
| Staff utilizationHair, nail or beauty salonStaff utilization: median 49%, 75th percentile 63%, 90th percentile 76% | 49%2025 | North American full-service salons on the Zenoti platform | Zenoti2026 Beauty and Wellness Benchmark Report, Salon Editionvendor source, free | Context onlyOne vendor's customers |
| Average job valueHair, nail or beauty salonAverage ticket: median $114, 75th percentile $139, 90th percentile $169 | $1142025 | North American full-service salons on the Zenoti platform | Zenoti2026 Beauty and Wellness Benchmark Report, Salon Editionvendor source, free | Context onlyOne vendor's customers |
| Rebooking rateSpa or med spaGuests rebooked within 24 hours of a visit | 33%2024 | U.S. and Canadian membership spas on the Zenoti platform (non-membership spas 12%, med spas 40%) | ZenotiBeauty and wellness industry statistics 2025vendor source, free | Context onlyOne vendor's customers; rebooked within 24 hours, not at checkout |
| Staff utilizationSpa or med spaAverage staff utilization | 64%2024 | U.S. and Canadian membership spas on the Zenoti platform (non-membership spas 60%, med spas 47%) | ZenotiBeauty and wellness industry statistics 2025vendor source, free | Context onlyOne vendor's customers |
| Staff turnover (annualized)All typesQuits rate, health care and social assistance, August 2026 (revised; BLS table as of November 3, 2026) | 1.9 percent per month2026 | All U.S. employers in health care and social assistance | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
9 measures with no public figure
- Overhead as % of collections. No public figure was found. The ADA publishes overhead data in a download that could not be read here.
- Production per FTE ($K/yr). No public figure was found.
- Chair or room utilization. No public figure was found.
- Collection rate. MGMA publishes collections in paid reports only.
- Net profit margin (Medical practice). MGMA publishes only trends for free; dollar and margin levels are paid.
- Rebooking rate. No public figure was found. For spas, a vendor figure is shown under the spa segment.
- Retail as % of service revenue. No public figure was found.
- Staff utilization. Shown for salons and spas from vendor data; no figure for other segments.
- Repeat customer rate (Gym or fitness studio). No documented member retention figure found for fitness studios.
Restaurants and hospitality
Full-service restaurant · Limited-service, fast casual or cafe · Bar or brewery · Catering · Hotel or inn · Short-term rentals · Event venue
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Food costFull-service restaurantMedian food and non-alcohol beverage cost as % of total sales | 32%2024 | U.S. full-service restaurant operators in the National Restaurant Association Restaurant Operations Data Abstract | National Restaurant AssociationRestaurant operators kept food cost ratios in check in 2024Primary source, commentary free, abstract paid | Context onlyMeasured against total sales; Keystone asks for food cost against food sales |
| Food costLimited-service, fast casual or cafeMedian food and non-alcohol beverage cost as % of total sales | 32.4%2024 | U.S. limited-service restaurant operators in the National Restaurant Association Restaurant Operations Data Abstract | National Restaurant AssociationRestaurant operators kept food cost ratios in check in 2024Primary source, commentary free, abstract paid | Context onlyMeasured against total sales; Keystone asks for food cost against food sales |
| Labor as % of revenueFull-service restaurantMedian salaries, wages and benefits as % of sales | 36.5%2024 | U.S. full-service restaurant operators (more than 900 operators across both service types) | National Restaurant AssociationElevated labor costs had a significant impact on restaurant profitability in 2024Primary source, commentary free, abstract paid | Can be a target |
| Labor as % of revenueLimited-service, fast casual or cafeMedian salaries, wages and benefits as % of sales | 31.7%2024 | U.S. limited-service restaurant operators | National Restaurant AssociationElevated labor costs had a significant impact on restaurant profitability in 2024Primary source, commentary free, abstract paid | Can be a target |
| Occupancy cost as % of salesFull-service restaurantMedian occupancy cost as % of sales | 5.7%2024 | U.S. full-service restaurant operators | National Restaurant AssociationRestaurant occupancy costs were more than 5% of sales in 2024Primary source, commentary free, abstract paid | Can be a target |
| Occupancy cost as % of salesLimited-service, fast casual or cafeMedian occupancy cost as % of sales | 5.2%2024 | U.S. limited-service restaurant operators | National Restaurant AssociationRestaurant occupancy costs were more than 5% of sales in 2024Primary source, commentary free, abstract paid | Can be a target |
| Staff turnover (annualized)All typesQuits rate, accommodation and food services, August 2026 (revised; BLS table as of November 3, 2026) | 3.6 percent per month2026 | All U.S. employers in accommodation and food services | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
| OccupancyAll typesOccupancy, full year 2025 | 62.3%2025 | All U.S. hotels | CoStar (STR)U.S. hotels report first full-year occupancy, RevPAR decline since 2020Primary source, free | Can be a target |
| Average daily rateAll typesAverage daily rate, full year 2025 | $160.542025 | All U.S. hotels | CoStar (STR)U.S. hotels report first full-year occupancy, RevPAR decline since 2020Primary source, free | Can be a target |
| RevPARAll typesRevenue per available room, full year 2025 | $100.022025 | All U.S. hotels | CoStar (STR)U.S. hotels report first full-year occupancy, RevPAR decline since 2020Primary source, free | Can be a target |
| Staff turnover (annualized)All typesQuits rate, accommodation and food services, August 2026 (revised; BLS table as of November 3, 2026) | 3.6 percent per month2026 | All U.S. employers in accommodation and food services | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
3 measures with no public figure
- Prime cost (food + labor). No public figure was found. The National Restaurant Association publishes food and labor separately (see those measures), not prime cost.
- Net profit margin. No public figure was found. The National Restaurant Association's free pages give only the share of operators not profitable.
- Net profit margin. No public figure for small or independent properties.
Real estate
Commercial brokerage and leasing · Residential brokerage · Property management
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Transaction sides per agent (annual)Residential brokerageTypical (median) transaction sides per agent in 2025 | 92025 | U.S. REALTORS (NAR members) working individually; teams typical 31 | National Association of REALTORSThe Feature Sheet: 2026 Member ProfilePrimary source, summary free, report paid | Can be a target |
5 measures with no public figure
- Transaction sides per agent (annual) (Commercial brokerage and leasing). No current public figure for commercial brokers.
- Company dollar (% of gross commission kept). No public figure found.
- Staff turnover (annualized). No public agent turnover rate found. NAR reports that 75% of members are very certain they will remain active for two years, which is intent, not turnover.
- Days from signed agreement to close. No current public figure found.
- Recurring revenue share (Property management). No public property management fee or occupancy benchmark found from IREM or NARPM.
Retail
Clothing and accessories · Furniture, home furnishings, electronics and appliances · Specialty and gift stores
| Measure | Figure | Who was measured | Source | How Keystone uses it |
|---|---|---|---|---|
| Inventory to monthly salesAll typesInventories to sales ratio, August 2026, not seasonally adjusted | 1.332026 | All U.S. retail trade firms | U.S. Census Bureau (via FRED)Retailers: Inventories to Sales Ratio (MRTSIR44000USN)Primary source, free | Context onlyAll U.S. retail including chains and car dealers; context for your own store type |
| Inventory to monthly salesClothing and accessoriesInventories to sales ratio, August 2026, not seasonally adjusted | 1.972026 | All U.S. clothing and clothing accessory stores | U.S. Census Bureau (via FRED)Clothing and Clothing Access. Stores: Inventories to Sales Ratio (MRTSIR448USN)Primary source, free | Can be a target |
| Inventory to monthly salesFurniture, home furnishings, electronics and appliancesInventories to sales ratio, July 2026, seasonally adjusted | 1.62026 | All U.S. furniture, home furnishings, electronics and appliance stores | U.S. Census Bureau (via FRED)Furniture, Home Furn, Electronics, and Appliance Stores: Inventories to Sales Ratio (MRTSIR4423XUSS)Primary source, free | Can be a target |
| Shrink as % of salesAll typesAverage shrink as % of sales | 1.44%2021 | Large U.S. retailers responding to the National Retail Security Survey | National Retail FederationNRF reports retail shrink nearly a $100B problemPrimary source, free | Context onlyRespondents are large chains, not independent stores |
| Staff turnover (annualized)All typesQuits rate, retail trade, August 2026 (revised; BLS table as of November 3, 2026) | 2.9 percent per month2026 | All U.S. employers in retail trade | U.S. Bureau of Labor StatisticsJOLTS Table 4: Quits levels and rates by industry, seasonally adjustedPrimary source, free | Context onlyMonthly voluntary quits as a share of employment across the whole sector. Your turnover is an annual rate for your own staff, so this is context, not a target. |
4 measures with no public figure
- Gross margin. Census publishes gross margin by store type (Annual Retail Trade Survey), but the file could not be read from this environment. Not shown until it is verified.
- Inventory turns (annual). No published figure; it could be derived from Census sales and inventories, which Keystone does not do.
- Sales per square foot (annual). No free primary source found.
- Visitor conversion. No free primary source found.
A few things to know
- Figures are shown as published. Each publisher's own page has the full method, and paid reports have more detail than we can show.
- Keystone is not affiliated with these publishers, and none of them endorses Keystone.
- A published average is a reference point, not a verdict on your business. Your own trend matters more.
- Spot an error, or know a better public source? Tell us and we will check it.
Generated from Keystone's benchmark catalog on 2026-11-06. The same catalog powers How you compare inside the workspace.