Every business relies on the maximising of their profits and by understand Gross Profit Margins you will be able to do just that!
On completion of this course you will have the knowledge and the skills to create a Gross Profit Calculator using Microsoft Excel.
Learn how to set your retail prices correctly based on the cost and the Gross Profit Margin will give you the best advantage to make the most profit off of your sales.
This course will enable you to be able to understand what Gross Profit is identify the difference better Gross Profit & Net Profit learn the formulas to calculate Gross Profit Margins.
Create an Excel spread sheet that will enable you to accurately calculate your Gross Profit Margins
Getting your profit margins wrong can be the difference between running a successful business and not.
By doing this course you will become confident in your pricing and be able to identify what products will deliver you the best returns.
In this section you will learn:
It is always useful to have a full understanding of how Gross Profit Calculations work outside of Microsoft Excel.
In this lecture you will see how to use the formulas learned in the previous lecture using a calculator.
Use this quiz to practice using the formulas for Gross Profit Margin, Adding VAT & Removing VAT.
You should use a calculator for these questions and not an Excel spread sheet
We will now look at the Gross Profit Margin Calculator in order to see how it functions and how we add the formulas to calculate the margin. In this section you will:
In this section we will begin to write the formulas to create the Gross Profit Margin Calculator. We will cover:
Not every sale you make will consist of just one item.
For example. A Vodka & Cola would consist of the costs of the vodka and the cola. The Retail Price combined with the combined costs of these two items would give you the Gross Profit Margin of the total items sols
In this section we will look at how to combine two or more items to calculate the total Gross Profit Margin.
In this lecture we will look at how to use Gross Profit Margin Calculations for multiple items that make up a single sale.
With first-hand knowledge of the Bar & Hospitality Industry, Your Bar Consultant can help you do more with your business.
From managing some of London's most prestigious bars, pubs and nightclubs as well as working in the education and charity sectors for hospitality Your Bar Consultant have a wealth of knowledge covering all areas of the industry:
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Whatever your needs are for your business we are certain that Your Bar Consultant can help you find the answers and resource to help