Understanding Costs, Revenue and Profit
No matter how good your idea for a product or service is, it doesn’t automatically translate into a successful business. Avoid the pitfalls of launching your business based solely on your idea. Join Bill Erichson, Pacific Training Innovations for Business Viability 1 and learn how to identify the costs to start and operate your business for the first year.
You’ll calculate the starting capital and annual sales required to break even, as well as the three kinds of start-up costs you’ll likely face.
Whether you’re starting, or considering expanding your existing business, book this seminar today and find out how to determine the financial viability of your business.
WHAT WILL I LEARN?
- Discover the kind of costs associated with start-ups
- What are the requirements for a start-up
- Identify your overhead costs
- Understand mark-up, margin and cost of goods – your variable costs
- What your break-even point looks like
- Finding out who your customer is
Due to the rapidly evolving public health situation surrounding COVID-19, Small Business BC has reached the difficult decision to modify how we deliver our services in the coming weeks.
As an organization, our number one priority will always be the health and safety of our clients, staff and service providers. We also want to ensure we maintain the high service standards our clients expect. As such, we will be delivering all our services online, or over the phone, until further notice. See here for more information on our service changes. Please use our COVID-19 small business resources – including this practical checklist for business continuity.