Contractor Markup V. Margin Simply Explained | + FREE CALCULATOR
Рет қаралды 4,829
Күн бұрынMath sucks... Until it makes you multiple thousands of dollars for the same amount of work. LINK TO OUR FREE MARKUP V. MARGIN CALCULATOR:
www.contractorgrowthnetwork.c...
0:00 What's the difference between markup and margin?
2:58 How to work the Markup v. Margin Calculator
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@sojapainting5849 2 жыл бұрын
All I can say “that would’ve been bad”. Figuring out 50% GPM is easy. You just 2x COGS. I was accidentally marking up instead of calculating margin when using lower rates. Thank you! Bookmarked the calculator!
@ContractorGrowthNetwork 2 жыл бұрын
That’s exactly why we made it! Love it.
@Ryan-im9cq Жыл бұрын
Can we connect via email or social media?
@dianakrenzer5638 8 ай бұрын
Excellent!
@ContractorGrowthNetwork 2 жыл бұрын
Hey guys! Quick correction here, after editing I noticed at 2:11 I wrote $26,000 and it really should've been $24,000. Don't make the same mistake, just use a calculator. Here's that link again: www.contractorgrowthnetwork.com/margin-and-markup-comparison/ -Aaron
@carsonliu9039 Жыл бұрын
what about i want make a100% profit
@tamunokipiritetaylor4572 Ай бұрын
@@carsonliu9039 Using his example, you'd need to charge 1,200,000.
@amandalinder1135 2 жыл бұрын
Honestly, I never fully grasped the difference between margin and markup and your brief explanation in the beginning of the video made it click. Thank you! One critique: please explain the difference between gross profit margin and net profit. So many contractors don’t get this.
@ContractorGrowthNetwork 2 жыл бұрын
Love to hear it Amanda! And we can definitely cover that. Thanks for the suggestion!
@Ryan-im9cq Жыл бұрын
I’m a solopreneur. Does the payroll to myself come out of the profit or should it be included in the cost of every job I do?
@ContractorGrowthNetwork Жыл бұрын
It depends on how your business is set up. Both ways work! Here's an article that breaks down some info www.cirruspayroll.com/own-a-business-dont-put-yourself-on-payroll-before-reading-this/
@kjacoby Жыл бұрын
Usually owners salary comes is in with overhead
@Ryan-im9cq Жыл бұрын
Thank you 🙏🏾
@Schlumbucketreturns 2 жыл бұрын
Thanks for letting me know which contractors to avoid, lol.
@ContractorGrowthNetwork 2 жыл бұрын
Any time 😘
@carsonliu9039 Жыл бұрын
how about i want 100%gross profit？
@blair5475 3 ай бұрын
If you want that then just take the job and only accept 100% of your charges upfront. As soon that’s paid, don’t show up to the job… simple!
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