How much money does a fashion business make?
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How much money does a business make in comparison to what it puts in? Now, I know there isn’t a way to know the fixed amount of money you’d make but roughly I would like to know how much a fashion business would make compared to input?
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NunyaBidNess_PartDeux said:
You want your gross profit to be about 32%
That is…. cost of goods, freight in, labor and raw materials.
Your G&A ( general and admin–including your salary) expense should run somewhere around 22-25%
That should net you somewhere between 3-8% at the end of the day.
If you are a sole proprietorship, that is considered income, and you should either spend that money investing in hard assets before the end of the year (only the depreciated value of the "asset" is considered an expense), or you should "draw" that money out to your personal account and count it as income.
REASON BEING!!!!!!! If you leave it in past year-end, the government taxes it at the corporate rate of about 14%, and then when you draw it out the following year.. you pay income tax on it. That is double taxation and you do NOT want that….
Good Luck!!
August 15th, 2009 at 6:54 am -
miss world said:
You get around 2o% net profit.
August 15th, 2009 at 6:54 am -
Kueen said:
I can help you source cheap brand name clothing from Hong Kong. Brands like Hollister, Roxy, American Eagle, Espirit…etc. Small order welcome.
August 15th, 2009 at 6:54 am -
Chris said:
Kueen, are you still on this blog? Would like to know more about what you can source. That sounds like something I could move. I think we’re all looking to increase profit these days in this economy.
August 19th, 2009 at 10:24 am -
Chris said:
Hey Kueen, how do I get in touch with you? Would like to connect about available clothing and see if we can do some business. Please contact me – christraders (at) gmail (dot) com
August 20th, 2009 at 11:01 am
