Your accountant is great source of help when it comes to growing your business !
Geoff has had many years experience helping a vast arrange of businesses.
We love small business accounting . Seeing our clients achieve and make larger profits truly excites us. There are some fundamental business questions that you should ask us in relation to your business to start the conversation going . Here are our top 5 questions to ask:
- Where should I take your business in next 12 months to 2 years in terms of growth and profitability?
- Is my business better or not as good as others in my industry?
- What Gross Profits should I be achieving for my business?
- What is break even point
- How much does it cost me per month to run my business
As your accountant, we have the knowledge to help you understand how your numbers stack up.
Every business will have its own numbers and ratios that drive profit but there are many common profit drivers that all businesses should be striving for . Understanding your numbers is what we specialise in . Our Profitcheck report helps clearly understand your numbers.
Gross Profit Margin is one such indicator . Gross Profit is an indicator of the businesses efficiency at how well it uses its labour and supplies towards making and the ultimate price it achieves for its products . A low Gross profit margin means that a business could be under pricing, inefficient or buying supplies to expensively.
Here are a couple of industries and their Gross Margin
|Average Gross Margin|
|Car Repair shops||40%|
|Gym and fitness centre||62.5%|
How does your business compare . Take the time to think about your questions and next time you have a meeting with your accountant test us out on the questions above.