#smallbusiness support

[thebookkeepersrus-blogs]

Everyone wants to know how they’re doing. As a small business owner, this is critical to your survival. Because franchises often operate on tighter margins, knowing where to pull back on certain expenses (for example, marketing) or where to negotiate harder (for example, leasing property) or where to invest (buying new equipment) matters. If you’re not comparing yourself against your peers, you’re flying blind. And that might mean you’re making mistakes.

Here are three ways to compare your franchise against your peers, and why they matter.

Compare Your Revenue.

How much money are you making versus “Company B”? Before you start your research make sure you take an apples-to-apples approach. Choose a competitor that’s in your field, within your geographic location (or similar), with the same years in business, and of a similar size. Then compare your revenue.

What do differences in revenue tell you? For starters, don’t assume that if they have higher revenue that’s automatically bad. They might be overestimating their revenue, or not spending enough on things that will work against them (equipment, marketing, etc.). But it’s definitely something to look at.

COGS (cost of goods sold) as a percentage of revenue.

The cost of goods sold is how much money it costs you (equipment, staffing, supplies) to create and sell your products and services to your customers.

If your revenue is $10,000 a month and your COGS is $5,000, that means your COGS as a percentage of revenue is 50% (it costs you half of what you take in to sell your services).

What does your COGS as a percentage of revenue tell you? If your rate is higher than your competitor’s rate, you might be at a disadvantage—for some reason, you are spending more to deliver your services. Perhaps your competitor is simply charging more—that’s an easy fix for you. Or, perhaps you’re paying too much for equipment and supplies. Regardless, this gives you an opportunity to examine how you’re running your business and where you need to make changes.

Expenses as a percentage of revenue.

This one is a no-brainer. If you are spending more than your competitor and getting the same revenue, your rate of expenses to revenue will be higher. Similar to comparing COGS to revenue, this is also an opportunity to examine where you’re spending money, and where you might want to negotiate or cut back (for example, you might be spending more on payroll).

[zolwia]

I'm currently in between payments with some big expenses coming up so if you've ever wanted to support my art it would mean the world to me. I'm running a 15% discount on my Etsy shop and I've finally set up an INPRNT! You can get 10% off on prints there.

Etsy: 15% off on all prints http://theorangenestshop.com

INPRNT: 10% off with promo code FFV4WUDH https://inprnt.com/gallery/zolwia/

Discounts are only available until the 23rd of March

[neonpaletteco]

turned my spring paintings into art prints!~ which set is your favorite?🌱

these spring paintings, and much more of my art, are available as prints on my etsy shop! click here to check it out and get free shipping when you purchase more than one!🌾✨

[sterlingssuncatchers]

A little mood board of the sun tarot card ☀️ Handmade tarot card suncatchers with genuine crystals are available at www.sterlingssuncatchers.ca 💫

[lumenemporium]

⌘ Mirror of the Necromancer ⌘

✧ This gothic fantasy necklace is inspired by Delilah Blackwood, from the DnD campaign by Critical Role. The perfect gift for all the warlocks and necromancers out there! I created this during one of my CR campaign re watch, thinking about a dark magic amulet that Delilah could have liked 👻 Now that I think about it, maybe a little bit of bones and blood were a must, though.

❂ Yellow-green flames are dancing through a glass mirror, infused with dark magic, a fragment of a portal to the realms of shadows. ❂

[zaytheslay]

Hi guys! I just wanted to let you guys know that you should support small business owner @sketch-me-an-artist!! They’re soooo kind and they’re really inclusive with their products :) you should absolutely check out their website lovelyladyartist.com, where you can buy their prints (which are gorgeous by the way), their pins (which are very inclusive and not as costly as other pins like it), and all their other products!! In addition to how beautiful they are and their good prices, they’re also very good quality! I’ve attached some images above of their prints, in addition to their business card with their links!

[robhastudio]

#miracleon63rdstreet Thank you soo much, at least you noticed me. You suggested me to show my face. Thanks but i can't. I do not want to disclose my identity because my family does not know about my debt. I don't let them show that how much am broken because i have responsibilities and they depend upon me. I don't want that they go through what i am going through. And this is why i thought to ask for help rather that having suicide.

Still not a single Doller received, but may be ........................

[thewynnershop]

Plzzz buy my art!

Im just a soft baby bean trying to make it in this

Capitalist society

buy my art plz!

I have prints and stickers and the prints are made in house (I print them in my apartment) and I paint gold on all of the prints individually.

If you want to you can also commission they are super open

[sddcollectablesshopsstuff]

New jimin T-shirts are available now 🥰

[creativecustominvite]

purchase before sold out

[pandagyoza]

[pinkpangea]

check out my storefront! silk scrunchies and more!

[artbyannie]

Sign-ups for April’s Sticker Club will close 3/31 at 11:59 PM CST!

⭐️Nice Mice ($3) - 1x Die Cut “Starlight Lady” Sticker, 1x “Atomic Kitty” Mini-Sticker

⭐️Love Bugs ($5) - all stickers for the Nice Mice Tier plus the “Mid-Century Modern” Sticker Sheet

Tysm to everyone who is a part of this club! It really means the world to me!

https://www.patreon.com/anneinks?utm_campaign=creatorshare_creator

[mahtheyzhawey]

I only have 2 mini paintings left in my etsy! Then I won't have any until I can afford to buy more canvases.

etsy.com/shop/Mahtheyzh…

[lumenemporium]

Golden Ehwaz rune

Check this golden Ehwaz rune on my Ko-fi shop! It's a handmade necklace made of eco resin <3

[dungeonbat]

Only 3 days!! Get in while supplies lasts