Contractor Markup V. Margin Simply Explained | + FREE CALCULATOR

Math sucks... Until it makes you multiple thousands of dollars for the same amount of work. LINK TO OUR FREE MARKUP V. MARGIN CALCULATOR:
www.contractorgrowthnetwork.c...
0:00 What's the difference between markup and margin?
2:58 How to work the Markup v. Margin Calculator
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[@sojapainting5849]

All I can say “that would’ve been bad”. Figuring out 50% GPM is easy. You just 2x COGS. I was accidentally marking up instead of calculating margin when using lower rates. Thank you! Bookmarked the calculator!

[@ContractorGrowthNetwork]

That’s exactly why we made it! Love it.

[@Ryan-im9cq]

Can we connect via email or social media?

[@dianakrenzer5638]

Excellent!

[@ContractorGrowthNetwork]

Hey guys! Quick correction here, after editing I noticed at 2:11 I wrote $26,000 and it really should've been $24,000. Don't make the same mistake, just use a calculator. Here's that link again: www.contractorgrowthnetwork.com/margin-and-markup-comparison/
-Aaron

[@carsonliu9039]

what about i want make a100% profit

[@tamunokipiritetaylor4572]

​@@carsonliu9039 Using his example, you'd need to charge 1,200,000.

[@amandalinder1135]

Honestly, I never fully grasped the difference between margin and markup and your brief explanation in the beginning of the video made it click. Thank you!
One critique: please explain the difference between gross profit margin and net profit. So many contractors don’t get this.

[@ContractorGrowthNetwork]

Love to hear it Amanda! And we can definitely cover that. Thanks for the suggestion!

[@Ryan-im9cq]

I’m a solopreneur. Does the payroll to myself come out of the profit or should it be included in the cost of every job I do?

[@ContractorGrowthNetwork]

It depends on how your business is set up. Both ways work! Here's an article that breaks down some info www.cirruspayroll.com/own-a-business-dont-put-yourself-on-payroll-before-reading-this/

[@kjacoby]

Usually owners salary comes is in with overhead

[@Ryan-im9cq]

Thank you 🙏🏾

[@Schlumbucketreturns]

Thanks for letting me know which contractors to avoid, lol.

[@ContractorGrowthNetwork]

Any time 😘

[@carsonliu9039]

how about i want 100%gross profit？

[@blair5475]

If you want that then just take the job and only accept 100% of your charges upfront. As soon that’s paid, don’t show up to the job… simple!