understanding margins on product

7 replies
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#margins #product #understanding
  • Profile picture of the author dave_hermansen
    Gross profit margin is the profit of your product divided by the retail price. If your cost for a product is $7 and you sell it for $13, you make $6 per sale and your gross profit margin is about 46% (6/13 = .4615).
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    • Profile picture of the author want2know2
      Thank you! how do I understand this concept when it comes to retail and wholesale?
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  • Profile picture of the author Kay King
    You do a google search with the term below


    how to figure margins for profit

    And that search yields a full page of formulas, explanations and calculators you can use.
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    • Profile picture of the author want2know2
      thank you, I try googling some of this information but I am having trouble understanding the way they explain some of these things, that's why I was hoping to get a simplified, easy to understand answer here
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  • Profile picture of the author Kay King
    Not everything can be 'simplified' - sometimes you have to put in the time to learn a process. Surely you can use an online calculator?
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    Saving one dog will not save the world....but will forever change the world of one dog.
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    • Profile picture of the author want2know2
      thank you, it's one thing to use a calculator but you must understand the theory first, which I have trouble grasping
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  • Profile picture of the author Kay King
    How did you get hired for a job you don't know how to do? Is there training available to you?
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    Saving one dog will not save the world....but will forever change the world of one dog.
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