2024 Best Practices Study

Specialization

% of Agencies with Specialty Revenue

80.0%

74.5%

74.5%

68.3%

67.7%

67.4%

64.3%

66.7%

63.9%

59.1%

56.3%

53.3%

50.0%

48.4%

41.7%

33.3%

24.1%

10.5%

< $1.25M

$1.25-$2.5M

$2.5-$5M

$5-$10M

$10-$25M

> $25M

2022 BPS

2023 BPS

2024 BPS

AGENCIES WITH REVENUES OF:

<$1.25M $1.25-$2.5M $2.5-$5M $5-$10M $10-$25M >$25M

% of Agencies with Specialty Rev Average Total Specialty Revenue 1

10.5%

24.1%

41.7%

33.3%

50.0%

56.3%

$254,482

$664,642

$1,177,778

$2,787,914

$6,291,798 $37,831,485

Average % Net Revenue 1

26.7%

31.9%

30.3%

39.2%

42.0%

41.9%

1 Only for those firms who reported speciality revenues Specialty Revenues: % of Comparison Group with this Specialty: Agriculture

0.0% 5.3% 5.3% 0.0% 5.3% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 5.3%

3.4% 6.9% 0.0% 0.0% 3.4% 6.9% 6.9% 3.4% 3.4% 3.4% 3.4% 3.4% 0.0% 6.9%

16.7% 19.4%

7.8%

8.3%

25.0% 47.9% 12.5% 14.6% 22.9% 22.9% 12.5% 33.3% 18.8% 12.5% 33.3% 22.9%

Construction

19.6% 2.0% 5.9% 7.8% 5.9% 3.9% 7.8% 2.0% 5.9% 7.8% 0.0% 7.8% 11.8% 11.8%

29.2%

Cyber Energy

2.8%

2.1% 2.1%

11.1% 13.9% 13.9% 13.9%

Government/Municipality

12.5% 12.5% 16.7% 16.7% 20.8% 25.0% 18.8% 4.2%

Healthcare Hospitality

Manufacturing

8.3% 2.8% 5.6%

Management / D&O

Non-profits Real Estate

13.9% 16.7%

Schools/Education

Technology

5.6%

8.3%

8.3%

Transportation

13.9% 22.2%

12.5% 18.8%

29.2% 35.4%

Other

10.3%

For firms that specialize in this, what % of NR is from this specialty? Agriculture

0.0%

100.0%

21.5% 36.5%

51.7% 48.1%

17.7% 42.4%

5.8%

Construction

75.2% 10.9%

49.5%

28.0% 10.5% 11.9%

Cyber Energy

0.0% 0.0%

1.1%

1.3%

3.0% 0.5%

0.0%

26.0% 10.2% 15.9% 14.0% 16.4% 26.2% 16.0% 30.3% 16.6% 1.8%

19.6% 40.8%

Government/Municipality

24.8%

18.5% 14.0% 53.2%

23.6%

7.4%

Healthcare Hospitality

0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%

9.4%

5.1%

15.3%

12.9% 16.1%

12.4% 24.9% 39.3% 17.0% 25.9% 14.0% 18.9% 32.7% 33.6%

2.7%

Manufacturing

1.4% 1.6%

24.9% 10.7% 11.4% 17.0% 11.8%

Management / D&O

2.4%

Non-profits Real Estate

26.0%

37.7% 30.1%

3.3%

Schools/Education

81.5%

4.9% 0.0% 7.5%

Technology

0.0%

8.0%

Transportation

29.7% 58.3%

8.9%

13.8% 22.5%

Other

89.1%

45.8%

54.1%

Cross Category Comparison

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