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Chris-K started the topic 10 Red Flags from Past Business Failures to Avoid in the forum Money matters 2 years, 1 month ago
Hi Everyone
I’m a Virtual CFO and I find that the best way of being successful is learning from other’s mistakes. To better manage business finances and cash flow liquidator’s reports show you everything you should avoid and not do when running your business.
[Mod Edit To Remove Overly Promotional Content] -
Chris-K replied to the topic Government Lockdown Support in the forum Money matters 2 years, 7 months ago
Job Saver payments have started to come through for NSW businesses.
Have you received your payment ? -
Chris-K started the topic Government Lockdown Support in the forum Money matters 2 years, 7 months ago
There’s a whole range of support initiatives on offer for businesses.
Make sure you know your entitlements and what you can and cannot pay your employees.If you want any clarification join me for a fast paced 30 minute zoom webinar this Monday morning 2 August 8:30 am
Link follows
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Chris-K replied to the topic Business banking no monthly fee's in the forum Money matters 2 years, 8 months ago
Hi Chris
I suggest you log on to http://www.canstar.com.au and compare banks and fees.
This is a good start.
Chris
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Chris-K started the topic Sydney Covid Disaster Payments in the forum Money matters 2 years, 8 months ago
Sydney business owners woke up to some grim news today.
With Covid cases rising, the city wide lockdown will likely be extended and politicians are demanding people do not leave their homes. Owners are frustrated and stressed – they still have to pay employees, suppliers and rents.More support is on the way from State and Hopefully the…[Read more]
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Chris-K replied to the topic COGS to Wholesale Price Profit Margin in the forum Money matters 2 years, 11 months ago
Margins can vary from industry to industry and it really depends on factors like competition in terms of what you can charge.
A 55% margin is one that many successful businesses have so looks like you are on a good thing.Off course you should always review your margins on a regular basis.
Best of luck
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Chris-K replied to the topic Hello there! Arpan from Ecofin Solutions ForU in the forum New here? Share your story 2 years, 11 months ago
Welcome to the forum Arpan.
There is a big demand for LED products so best of luck -
Chris-K replied to the topic Salary Packaging in the forum Money matters 2 years, 11 months ago
Hi
There’s a lot of advantages to salary packaging especially including a motor vehicle. Basically you use your before tax or gross wages to pay your monthly car lease. This is much better than using after tax or net wages.Like most things you need to compare how this will impact your take home pay so you need to run some comparisons.
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Chris-K replied to the topic Help with distributor buy price calcs in the forum Money matters 2 years, 11 months ago
Yes good point , then in that case
Assuming the distributor wants to make a 18% margin their buy price from you would be $12.27
How does the $12.27 make your profit look ?
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Chris-K replied to the topic Help with distributor buy price calcs in the forum Money matters 2 years, 11 months ago
Hi Biz Keeping
A retailer gross margin of 25% means they are willing to pay the distributor $14.96 to sell it at $19.95 RRP
Assuming the distributor wants to make a 50% margin their buy price from you would be $7.48
You need to make sure the $7.48 covers your cost to make your product and factors in a profit to you.
Hope this helps.
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Chris-K changed their profile picture 2 years, 11 months ago
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Chris-K replied to the topic Hey Guys! Im newbie! in the forum New here? Share your story 2 years, 11 months ago
Welcome to the forum Nick Jahet! Hope you find it useful.