Trying to work out gross profit margin - how do i find out what the acceptable %ages are fir a wine bar?
Answer:
No but i can give you some accounting ratios explaining where the figures come from if you like?
Easy find the costs of the products you are selling. (including tax)
Then go to your closest competitors and sus out their prices.
The difference is the gross margin.
Your accountant might help and if you have a friend at the vat office they definitely know the usually "true" gross margin for all businesses. However if you don't already know this from working in the trade I would be very wary of this venture. Ask yourself why
you should be better at running this businesses than someone who has managed wine bars all their lives.
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