Westwood, Mass. (June 14, 2010): Gray, Gray & Gray, LLP Certified Public Accountants, Westwood, MA, has released the results of the firm’s 19th annual Oilheat Industry Survey. Responses to the survey were obtained from retail fuel oil dealers from throughout the Northeast and Mid-Atlantic regions of the U.S.
“One of the more interesting results from this year’s survey is the increasing volume of propane sales among respondents,” said Joe Ciccarello, CPA, managing partner at Gray, Gray & Gray. “This is a combination of both more survey participation by propane dealers, and an increasing number of oil dealers who are expanding into the propane business.”
Ciccarello also pointed to the issue of customer retention after a merger or acquisition of two oil companies. The survey results show a drop in the number of customers after 1, 2 and 3 years. But Ciccarello says the “bleed off” may not be as steep as might be expected.
“The more ‘due diligence’ you perform prior to the transaction, the better your customer retention rate will be,” said Ciccarello.
Complete oilheat survey results are available on Gray, Gray & Gray’s web site at: www.gggcpas.com, or by calling (781) 407-0300.
Gray, Gray & Gray, LLP is the country’s leading oilheat and petroleum industry accounting firm. Gray, Gray & Gray’s offices are located at 34 Southwest Park, Westwood, Mass.
Media Contact:
Kelly Monestime
(781) 407-0300
kmonestime@gggcpas.com