Special Training on Markup Vs Margin
Although Markup and Margin principles are actually very simple, I have found that a lot of my clients are not fully aware of the difference and often end up believing that whatever markup percentage they choose will secure them the same percentage in their margin.
Markup and margin aren’t really taught in school and most of us never attended anything remotely like business school, so I don’t believe you can blame anyone for making honest mistakes in these matters.
However, the consequences of not knowing the difference of markup and margin can cost you as a business owner a lot of money.
I have seen this happen many times over with many of the clients that I have had the privilege to serve over the years.
To quickly illustrate the point and the level of importance, have a quick glance at the Markup vs. Margin Chart below:
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