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213 | Mastering Retail Profit Margins with Catherine Erdly
Manage episode 436835260 series 3466336
A tartalmat a Catherine Erdly biztosítja. Az összes podcast-tartalmat, beleértve az epizódokat, grafikákat és podcast-leírásokat, közvetlenül a Catherine Erdly vagy a podcast platform partnere tölti fel és biztosítja. Ha úgy gondolja, hogy valaki az Ön engedélye nélkül használja fel a szerzői joggal védett művét, kövesse az itt leírt folyamatot https://hu.player.fm/legal.
Today we are diving deep into the critical topic of profit margins and their importance in maintaining a profitable, sustainable and abundant retail business. I’m sharing examples from my retail industry experience to break down how to calculate profit margins, common mistakes to avoid, and practical strategies for improving profitability.I will also share how to balance costs and manage cash flow. Don't miss this episode filled with fundamental principles and actionable advice.
If you are looking for some additional help to working out what your profit margins should be you can download my calculator here.
[00:53] Revisiting a Popular Episode on Pricing
[02:38] Understanding Retail Profit Margins
[08:21] Common Mistakes in Calculating Retail Profit Margins
[13:38] Calculating Your Profit Margin (https://www.resilientretailclub.com/blog/calculate-retail-business-profit)
[17:03] Considering Profit Margins Across Collections and Sales Channels
[22:36] What Is A Healthy Profit Margin (https://www.resilientretailclub.com/blog/what-is-a-good-profit-margin/)
[28:06] What To Do If Profit Margins Are Low (https://www.resilientretailclub.com/blog/10-proven-ways-to-improve-the-profitability-of-your-small-business/)
[33:43] Conclusion and Final Thoughts
Links:
Profit Margin Calculator: https://futureretail.lpages.co/margin-calculator-2024/
Get more great resources in the show notes at https://www.resilientretailclub.com/podcast-episode/mastering-retail-profit-margins-with-catherine-erdly/
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