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MOe | How much profit a retailer should get to survive? |
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Scott K
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What kind of profit? Gross? Net? Markup?
All are wide open depending on the retailer's size, market, volume, form of business, and a ton of other factors.
What you need to do is to create a break even chart where break-even is equal to fixed costs plus variable costs multiplied by variable volume. You can add your living costs and additional contingencies and desired profit to the fixed cost number and it will tell you how many widgets you need to sell to stay afloat.
Fixed costs are those costs that don't fluxuate by volume; e.g., rent
Variable costs are those costs that do fluxuate by volume; e.g., labor, merchandise, etc.
Some costs are semi-fixed or semi-variable (take ur pick.) These costs have a fixed nature as well as a variable nature; e.g., management salaries, insurance, etc. There's a subset to these that graduates in steps; e.g., taxes, utilities, etc. You will need to break down the fixed and variable portions of these types of costs. |
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ed
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Most retailers strive for net profit, after taxes, of 5%.
This is NET, bottom line.
I think the answer of 33%, is the gross Markup, before expenses.
That is a competititive markup in that field. |
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smedrik
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That depends upon variable factors the biggest being your running cost. What is your rent, utilities and staffing costing? Likewise what is you advertising and maintenance budget. How much inventory are you moving.
A *standard* mark up on wholesale goods is around 40%, however you have to move those goods to make money. If you cannot price at or below your nearby competition and maintain those margins you may have to adjust them, leaving less profit. |
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Al G
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33% of profit on sales. |
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doug s
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Enough to cover your overheads and extra to grow with. You should be making 30-100% back on your product at least. Though, if you're Nike that'll be about 500-1,000%
My dad works in economic development. He once told me it's normal for the first year or two of a company for it to be in the red.
My best advice for you would be to meet with an economic developer. They're state funded non-profit organisations and they're in every county of every state in the country. Their job is to give you advice on this sort of stuff, help you get in touch with people who might be able to give you a hand, get you through the paperwork. In the end they try to help businesses flourish so that the area's economy can boom. |
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Justine L.
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It depends on the size of your business.
The general rule is, your gross profits should always be greater than your expenses. And you need to set aside a certain amount for emergencies. |
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♫►The Answerer◄♫
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20 percent is pretty good. Apple gets 50% ross margin off every ipod they sell plus retailer markup. |
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