Curt Walczak, Senior Business Consultant Northland SBDC and Michael Colclough, Director Northland SBDC will illustrate how to use Break Even and Price Product markup to help make critical business decisions.

1. Determining Break Even Calculation

Determining your Break Even Point is an important of understanding your business and making critical decisions. For instance if you want o to hire a new employee how much more will you have to sell to pay for that position? If you have increased rent or other operating expenses how much more will you need to sell to support the increased costs?

Your Break Even Point can help you manage and understand these answers.

2. Determining Product/Labor Markup

We will demonstrate how to achieve the correct gross profit margin using the correct calculation and how to look at standards to see how your company compares to the industry.

These two tools will help you understand your profit margins and make decisions to be a stronger company.

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