For most individuals, the purpose of being in business is to make money. If you operate a business that doesn’t generate a profit, it’s a hobby. What you choose to do with your money is an entirely different matter. Those driven only by the passion for what they do are most likely to have marginal or non-existent profit margins, however, they may find deep personal satisfaction in what they’re doing. So, where are you? Driven by conviction or passion? At Skedaddle we believe you can achieve profit with a purpose. We embrace that you can make money and make a difference.
During your investigation, we provide you with a streamlined calculator that allows you to clearly and simply determine the financial viability of our offering. It is titled the “Bottom-up Calculator.”
Traditional accounting and business philosophy follows this line of thinking: What are my sales? Subtract from that my cost of goods, fixed and variable expenses and what’s left over is the bottom-line profit. This section has essential money matters topics for your review and use.
We provide a low and high investment range. The lower numbers are in case you lease everything, have some of the required equipment already and go bare bones. The higher figures are if you pay cash and get everything under the sun. Your investment will likely fall somewhere in between.
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The fact that you’re ready to start exploring financing options says a great deal about your desire to become a franchise business owner. As you embark on your journey, one of the most important steps is to secure financing.
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You can calculate the cost, return on investment and timeline to achieve your objective. As you contemplate this major career change to acquire a franchise, you’ve probably asked yourself, “Can I afford to do this? What if I fail, how long will it take to recover financially?
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In accounting vernacular “profit” may be defined as owner “discretionary income”, “net profit margin”, “the bottom line” or Earnings Before Interest, Taxes and Amortization (E.B.I.T.A. ). What makes defining profit so elusive is the way franchise operators, their accountants and CPAs report and manipulate expenses.
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