Maximizing Your Profit Margins

Facilitator Ron Robichaud.

Without operating profits, a business will not survive. Yet surprisingly, many small business owners seem willing to accept very modest net profits (often less than 1%). .As a general rule of thumb, we believe any small business should seek to achieve a net profit margin of at least 10%.

Net profits provide contingency funds for unexpected events such as an economic downturn, a new competitor or the loss of a key customer or supplier. And of course, net profits can also provide additional income (above and beyond a fair wage) for the business owner.

Subjects to be covered include:

• Think like an investor
• How to establish a net profit margin goal
• How to use a unique bottom-up approach to achieve the desired net profit margin
• How to develop sector specific controls in costing formulas that ensures the desirable gross profit margin
• Understanding how to convert expense into percentages
• Apply a keep it simple performance scorecard to measure results for any product or service
• How to make necessary adjustments and stay on track
• How to determine your break-even point

Space is limited. To register please contact Barb MacDonald at 902-853-3616 or [email protected].