4.6 • 682 Ratings
🗓️ 8 September 2021
⏱️ 7 minutes
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0:00.0 | This is the Ramsey Call of the Day, part of the Ramsey Network. |
0:11.7 | Reed is in Pittsburgh. |
0:13.2 | Hey, Reed, what's up? |
0:14.7 | Hey, Dave, how are you doing? |
0:16.3 | Better than I deserve. |
0:17.6 | How can I help? |
0:19.4 | So I recently, about a year and a half ago, started working with a friend of mine back home, |
0:24.7 | and we're trying to figure out why we can't. We just break even every year. We can't seem |
0:29.8 | to make a profit no matter how much our shells go up in the business. It's just kind of boggling my |
0:34.1 | mind a little bit. What's your top line revenues? |
0:39.1 | Your gross revenue. |
0:39.7 | So right now, when this year we're on track to do 300 in total sales, 300K, when I started, |
0:47.1 | it was like 120 that he did on average every year. |
0:49.5 | And even though the sales went up, we just, we're not breaking even. |
0:52.4 | I don't get it. |
0:53.5 | Okay. |
0:53.7 | So are you selling an item? |
0:56.2 | Yeah, item and services. It's an archery pro shop. It's a what? Archery pro shop. We sell |
1:02.8 | bows and arrows. Okay. All right. And so what is your margin? So we make about 40% on the average of the store. |
1:13.8 | Okay. |
1:14.0 | So you should have $120,000 gross profit then. |
1:17.8 | Well, we don't pay that much in payroll. |
... |
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