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Discovering The Gross Profit Margin To Make Serious Money

By SEN Design Group on Jan 12, 2018 11:31:19 AM

Contrary to popular industry belief, a 40% gross profit margin may not be the magical number that leads to the best bottom line in the kitchen and bath business. The correct number for a particular business may be significantly higher or lower. It really turns on three things: (1) a “market-rate” owner’s salary, (2) the operation’s overhead including a “market rate” rent, and (3) the owner’s desired annual return on his investment.

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How To Be More Profitable In The New Year

By SEN Design Group on Dec 19, 2017 9:30:04 PM

The first reason why a bigger top revenue line only marginally affects one’s bottom line is that more errors are made with higher sales volumes; so gross margins typically decline by a few percentage points. Secondly, variable expenses - like sales commissions and payroll taxes - increase with higher sales volumes. And third, more staff people are usually needed to support the higher sales volumes, adding to the overhead.

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The Business Skill I Needed at My First Promotion - WarmlyYours NEXTGen Sponsor

By Elodie Pasek on Aug 28, 2017 7:50:19 AM

One thing I learned early on in my career is that learning is lifelong. No matter what level of formal education anyone attains, it is just the start. I always keep learning because business is always changing.

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Marketing Your Integrity Enhances Profitability

By Becky Wiedemann on Jun 12, 2017 3:11:58 PM

Ten years ago Faith Popcorn, the futurist guru, wrote “what will make us buy one product over another is a feeling of partnership with the seller” … “that decency is not only the only way to behave, but decency can also be profitable” … and “we want to buy from a person … a person whom we trust.”

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Top 10 Best Practices to Make Your Business Stronger

By Becky Wiedemann on Feb 8, 2017 9:00:00 AM

Having launched the kitchen/bath industry’s first buying and business development group in 1994, the SEN Management Team has had an opportunity to work with hundreds of design firm owners. We have analyzed their financial statements, studied their business models up close and personal, critiqued their operations onsite, and coached owners for many months on end …. and through both good and bad economic times.

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