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Critsmcgee
join:2011-12-02

Critsmcgee to nonymous

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to nonymous

Re: Strange Roofing Contractor behavior.

said by nonymous:

Don't run a grocery store you would have nightmares.

I wouldn't want to even if it was given to me. Retail sucks!
Hellrazor
Bah Humbug
join:2002-02-02
Abyss, PA

2 recommendations

Hellrazor to Snakeoil

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to Snakeoil
If you can't find the contractor in order for him to pickup his dump truck, what is the 20 year contractors warranty good for? The manufacturers warranty requires that it was installed properly.

To figure out if the price was good, you need to know the square footage of the roof.

IowaCowboy
Lost in the Supermarket
Premium Member
join:2010-10-16
Springfield, MA

IowaCowboy to Critsmcgee

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to Critsmcgee
said by Critsmcgee:

said by nonymous:

Don't run a grocery store you would have nightmares.

I wouldn't want to even if it was given to me. Retail sucks!

I was at the Enfield Best Buy today asking about inventory on the GoPro cameras (they're having a hard time keeping the Hero 3 white and silver in stock) and I said to the clerk that the inventory numbers on the Holyoke Best Buy don't show true inventory due to shrinkage (shoplifting) considering the area. Same at Macy's, computer said they had 8 Keurig coffeemakers, store physically had none and it was Holyoke. Holyoke Mall has a shoplifting problem.

Big Y closed the Boston Rd Springfield store because of shoplifting; it's now a Kohls. I'm sure whoever in Kohls HQ that decided it was a good idea to put a store there has no idea about the kind of area. Im sure that store will close in a couple of years due to shrinkage.
psiu
join:2004-01-20
Farmington, MI

1 recommendation

psiu

Member

said by IowaCowboy:

Im sure that store will close in a couple of years due to shrinkage.

They should really start heating the water.

Boooost
@151.190.254.x

Boooost to Critsmcgee

Anon

to Critsmcgee
said by Critsmcgee:

said by TheBionic:

said by Critsmcgee:

I run a gym and I only see about 33% of every dollar I collect.

Do you mean 33% profit? That seems like a very good margin.

The rough net is about 30-33% of gross. Not as good as it should be. I give my employees a SEP IRA of 2-4% annually based on profits and some other various bonuses. I like to keep them happy so there's very little turnover.

$67 of expenses and $100 income is a 50% profit margin. And that's not enough for you?
Nanaki (banned)
aka novaflare. pull punches? Na
join:2002-01-24
Akron, OH

Nanaki (banned) to nonymous

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LOL

Any thing that deals with food is low profit. It is all about volume volume and more volume. Services industries are higher profit. Tech work example if i do a spyware and virus clean up for 50 bucks flat rate and i do say 10 at a time (for the running av and antispyware portion) i can do on a good day in a shop that sees high volume in 8 hours about 20 (some variance) And i consider my pay rate to be 20 a hour (that is the low to mid range for average pay) I would make 160 gross for the day and the shop would have brought in 1 grand. That part of the business is just under 85% profit. But getting 20 clean up jobs per day is not really possible even if your the only shop in 20 or 30 miles in new york. So bread and butter is hardware repair. Replacing busted parts that cut in to your profit. So if you set up a schedule (think of it as a menu) or prices for the 25 most common repairs say 70 for a glass only repair on a samsung s3 or 4. about 20 of that is for parts and materials. It is high profit but it is also labor intensive. (trust me ive done literally 100s of s2 to 4 and note 1 to 3 phones) so labor is 50. It takes me about 3 hours start to finish at max and 45 minutes at least. I tell the customer 3 hours for the repair and the average repair time will be about 90 minutes. So that is about 25 per hour or a profit margine of about 25%.

but going with a repair of a iphone 4 through the 6 line the repair is max 50 (part cost varies weekly) the part is 20 and takes a little over 1 hour on a 5 or 2+ on a 4. So right off the rip not figuring in hours spent the profit margin dips to 50% with time figured in (iphone 4 line) at 20 a hour the remaining is profit for the shop. So in essence the profit is 0%. So why do 4s and 5s with next to nothing to no profit margin? We gain a customer who will pay their cell phone bill buy another phone later on or chargers cases etc. And they will send their friends. We do a zero profit (or my boss does) as advertisement. We are getting that customer with the iphone 4 as a spokesmen for our shop. It can not be beat. BTW our average profit margin is more along the lines of 15% over all and that is considered really freaking good.
Critsmcgee
join:2011-12-02

Critsmcgee to Boooost

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to Boooost
said by Boooost :

$67 of expenses and $100 income is a 50% profit margin. And that's not enough for you?

Isn't 11:52 am a bit early to start drinking? If you collect $100 and lose $67 to overhead that leaves $33 net aka 33%. I wish I could get a 50% net but I've pretty much maxed out everything I can to get that. When I bought the business it was only doing about 22-24% net.
Nanaki (banned)
aka novaflare. pull punches? Na
join:2002-01-24
Akron, OH

Nanaki (banned)

Member

That is just insane to get that kind of profit margin. 20% is quite good.
Critsmcgee
join:2011-12-02

Critsmcgee

Member

said by Nanaki:

That is just insane to get that kind of profit margin. 20% is quite good.

It's always nice when the median income is over $140,000 and the median house sale in 2014 was $624,000 ($236/sq ft) Location, location, location is my motto for businesses.

Msradell
Premium Member
join:2008-12-25
Louisville, KY

Msradell to Critsmcgee

Premium Member

to Critsmcgee
said by Critsmcgee:

said by Boooost :

$67 of expenses and $100 income is a 50% profit margin. And that's not enough for you?

Isn't 11:52 am a bit early to start drinking? If you collect $100 and lose $67 to overhead that leaves $33 net aka 33%. I wish I could get a 50% net but I've pretty much maxed out everything I can to get that. When I bought the business it was only doing about 22-24% net.

The way many businesses look at profits is costs versus profit instead of gross versus profit. Using the cost versus profit method this is indeed 50% profit! It certainly makes you feel better to say you had a 50% profit versus having a 33% profit although the bottom line is the same.
Critsmcgee
join:2011-12-02

1 edit

Critsmcgee

Member

said by Msradell:

said by Critsmcgee:

said by Boooost :

$67 of expenses and $100 income is a 50% profit margin. And that's not enough for you?

Isn't 11:52 am a bit early to start drinking? If you collect $100 and lose $67 to overhead that leaves $33 net aka 33%. I wish I could get a 50% net but I've pretty much maxed out everything I can to get that. When I bought the business it was only doing about 22-24% net.

The way many businesses look at profits is costs versus profit instead of gross versus profit. Using the cost versus profit method this is indeed 50% profit! It certainly makes you feel better to say you had a 50% profit versus having a 33% profit although the bottom line is the same.

I get you there. I grew up with a CPA parent so everything is gross/net for me. So the 2014 gross was $227,201 and the net was $75,971.12. Not too bad considering I work a full time job and this is on the side.
System

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Anon

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