Know whether your business is making money. Entrepreneur Staff Published 7:19 pm CDT, Friday, May 17, 2019 Photo: Shutterstock Photo: Shutterstock Image 1 of / 1 Caption Close Image 1 of 1 Photo: Shutterstock How to Calculate Gross Profit 1 / 1 Back to Gallery One of the most important financial concepts you'll need to learn in running your new business is the computation of gross profit, and the tool you use to maintain gross profit is markup. The gross profit on a product is computed as follows: Sales - Cost of Goods Sold = Gross Profit To understand gross profit, it is important to know the distinction between variable and fixed costs. Variable costs are costs that change based … [Read more...] about How to Calculate Gross Profit
Calculation cost of goods sold
If you pay peanuts, you may get monkeys. Learn where to dig and why so you can outweigh costs with benefits and find the best franchise opportunity for you Mark Siebert Published 5:00 am CST, Wednesday, January 30, 2019 Photo: Juststock | Getty Images Photo: Juststock | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Juststock | Getty Images How to Vet Franchisors and Predict Your ROI on a Franchise Business 1 / 1 Back to Gallery The following excerpt is from Mark Siebert’s book The Franchisee Handbook: Everything You Need to Know About Buying a Franchise. Buy it now from Amazon | Barnes & Noble | Apple Books | IndieBound While every item on the franchise … [Read more...] about How to Vet Franchisors and Predict Your ROI on a Franchise Business
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Jan. 10, 2019, 2:39 PM GMT By Robert Frank, Scott Zamost, Hannah Kliot and Jasmine Wu, CNBC Last spring, Leonardo Galvez got an offer from JetSmarter that seemed too good to pass up. The private-jet start-up was offering Galvez its top-of-the-line "sophisticated membership," which included unlimited, free private-jet flights and the chance to bring a guest. The membership usually cost $50,000 a year, but JetSmarter told Galvez that if he acted now, he could get three years for $97,500, which he accepted. Weeks later, Galvez was stunned when he tried to book a JetSmarter flight. Rather than flying for free as promised, he was told he would have to pay 75 percent of the cost of his flights. The guest pass and other benefits also disappeared, he said. "My heart dropped," Galvez said. "My membership meant nothing anymore. It was the easiest … [Read more...] about JetSmarter tried to be the Uber of private jets. Now it faces lawsuits, losses and security questions.
Matthew Stuart, provided by Published 1:54 pm CST, Wednesday, January 2, 2019 In the mid-90s, Columbia House and the BMG Music Service offered unbelievable deals on CDs. People joined these clubs for a penny and got a bunch of music almost for free as long as they promised to buy a certain amount of music at regular club prices. The offer represented more than $1.5 billion of the music industry. NYU music business professor, Larry Miller, broke down how these music clubs not only made enough money to sustain business, but also became very profitable. Matt Stuart: Ever get a whole bunch of CDs for a penny, or even free? Commercial: Columbia House, big enough to bring you all the best in entertainment Matt: Columbia House and the BMG Music Service both offered amazing deals. About eight CDs at almost no cost to you, then just buy one more at full retail price and you get three more for free. Sounds too good to be true, right? How could something like this … [Read more...] about How Columbia House sold 12 CDs for as little as a penny
By Neil Hamilton, VP of Business Development, Thingstream The traditional supply chain model often used in retail distribution is outdated and broken. Customers want more and they want it now but businesses’ inability to step up to the mark can leave customers waiting for product or worse - not waiting and going elsewhere. To match modern customer expectations, business needs to adopt modern methods. Changes of this type are far from easy, however, IoT could hold the key to unlocking the supply chain of the future. Thanks to the rise in on-demand services and almost anything you want being just a click away, consumers are becoming more and more demanding. In sympathy with this, commerce and industry are responding by doing everything they can to improve the customer experience and get an edge on the competition. In the best case scenario, the customer will wait for the goods to become available and purchase anyway; in other cases, the customer will shop elsewhere or even give up … [Read more...] about Reducing logistics costs by enabling a pull-based, vertically integrated supply chain through IoT