PROFIT

« **on:** November 10, 2006, 06:42:50 pm »

I often see a lot of discussion about turnover, but anyone can create large sales volumes if they spend a lot on advertising. I was interested in what the average was for PBT (profit before tax), as in my opinion this is a truer guide of success, as opposed to turnover.

Thanks

Dan

« **Reply #1 on:** November 10, 2006, 07:15:40 pm »

and wait for the smell of b!"£$%$£t to arrive lol

« **Reply #2 on:** November 10, 2006, 07:23:26 pm »

Lol
I personally would not get out of bed if I could not net £1k per day

« **Reply #3 on:** November 10, 2006, 07:31:16 pm »

Would only get half a days labour from me for that Paul. Being as though i am booked up solid for five years i can afford to charge that

lol
Damian.

« **Reply #4 on:** November 10, 2006, 07:36:15 pm »

Im a bit slow this year as im only 3 years booked up ahead

But last year I was 6 years booked up

Ok silly hour over now

« **Reply #5 on:** November 10, 2006, 07:38:10 pm »

Are you talking about "business" profit, i.e. after taking your salary out? Or, are you talking about actual profit that you use as salary? If that makes sense. $:-\$

Andy

« **Reply #6 on:** November 10, 2006, 07:49:45 pm »

The problem with all trades when you are self employed is the fact that you have good weeks and bad weeks. So in this instance to ask for a weekly figure will never be very accurate as some people may quote busier times than others etc-there are too many variables that need to be considered. It would have been a more accurate poll if using a mean average over a full year.

Damian.

« **Reply #7 on:** November 10, 2006, 08:04:21 pm »

better still lets see who can tell biggest fib

Geoff

« **Reply #8 on:** November 10, 2006, 08:28:59 pm »

It was purely curiosity. You do not have to particpate.

I agree that there a lot of bs merchants on here that seem to be outdoing everyone, yet spend all their time on here telling everyone how busy they are!!!!

Leave em to it.

Dan

« **Reply #9 on:** November 10, 2006, 10:08:46 pm »

I cant speak for everyone, but I must say that i dont like it when I hear all these guys accusing others of BS because they are doing better. The whole thing depends on so many different factors Area, People, Situations, how bad they want it I personally would not want the worry and commitment for less the £1000 at least per week. I do not understand why someone would want the pressure and worry of running your own business to earn £250 per week when you could earn this at TESCO without any worries. Sorry guys, just my opinion.

Cheers
J

« **Reply #10 on:** November 10, 2006, 10:36:43 pm »

Quote from: maxcarpets on November 10, 2006, 10:08:46 pm

I cant speak for everyone, but I must say that i dont like it when I hear all these guys accusing others of BS because they are doing better. The whole thing depends on so many different factors Area, People, Situations, how bad they want it I personally would not want the worry and commitment for less the £1000 at least per week. I do not understand why someone would want the pressure and worry of running your own business to earn £250 per week when you could earn this at TESCO without any worries. Sorry guys, just my opinion.

Cheers
J

Justin-so after all the advertising you pay for and running costs of a sole trader you are clearing 1k a week? If so then my hat is off to you-well done! Are you using a porty or t/m? Or are you saying youre bookings are worth 1k a week?

Damian.

« **Reply #11 on:** November 10, 2006, 10:56:18 pm »

Sssshhhh-the inland revenue watch these sites! lol-so does my ex-(maintenance etc!) i couldnt possibly earn that sort of money and i am always hard up! If there are any free gifts or food for work then i can oblige or maybe a new pair of trousers?

Damian.

« **Reply #12 on:** November 11, 2006, 01:39:44 am »

Made a loss last year £24k dose that count?

Len

« **Reply #13 on:** November 11, 2006, 02:28:08 am »

Len,

Better book your flight now!

Adam.

« **Reply #14 on:** November 11, 2006, 07:20:26 am »

Justin is right, why would you want to run your own business for anything less than £500 profit.

My buisness is only 2 years old but I want to be earning over a £1000 a week profit in the future, will take lots of hard work but will get their.

I suppose what you want from your business is down to what you want from life.

If you are in your fifties you may not need to earn that much so clearing £250 a week profit would be good .

If you are like me and mortgaged upto the hilt, you'll want to make as much money as possible.

I would not want to do this if I was not clearing more than £500 a week because Justin is right I could get a Job without any of the worries and earn that a week.

My plan is for my business to make me my fortune and ultimatley run on its own with me sitting at the top. That the plan anyway. But i'm still learning to walk in this industry so when I've learn't to run I want to be making my fortune.

Cheers

Neil

« **Reply #15 on:** November 11, 2006, 11:55:03 am »

No offence lads but surely no one earns anything near £500 a week working in Tesco's. People moan alot about not earning enough in this business if that's the case then why are you still init? Surely money aint everything anyway c/c has given me a better more healthier stress free way of life already, and let's be honest it aint exactly the hardest business to run surely. One thing i know is that i am 100 times happier being self-employed in this business then working for some arrogant w***er making him lots of money as in my previous job. People go on about all the overheads and that but everyone has them you couldn't be in a business without them - for instance fuel costs, well even if you were working for someone else you would still have bloody fuel costs unless you use to walk to work. Not many of you will probably agree with what i have said but i am probably in a different situation then you as i don't have a mortage to worry about as yet etc I'm still at home as i cannot afford todays house prices as no one my age can down here either. I am still young and i hope to establish myself say in 2 years time and hopefully be getting enough work in, to be able to get my own place if it doesn't work then least i have given it ago. Also i don't just rely on c/c as a regular income i do other work aswell as i have only just started up a few months ago so things are abit slow. One way i look at it if i was earning what i arent in my previous job in c/c then i would be happy and anything else would be a bonus cause after the poop i had to put up with in my last job anything is better.
matt

« **Reply #16 on:** November 11, 2006, 12:05:37 pm »

I agree with matt, also it is not profit I seek , it is adding value to my businesses, I ACTUALLY TRY TO MINIMISE MY NET PROFIT BY OFF SETTING,as much of my expenditure as possible, against my business, if i worked at tesco, and my car cost 4k a year in depreciation, repairs,fuel etc i would need to earn about 6k to have the 4k in my pocket , as it is my business pays the 4 k , so that is 2k saved , multiply that by several out goings and , lower your net profit , and your tax bill ... legally.

« **Reply #17 on:** November 11, 2006, 12:29:30 pm »

Definatly mate it's putting as much of your expenses as you possibly can down to business expenses. And also finding that happy medium of working but enjoying as much of your free time as you can not working yourself into an early grave.(what's the point) with c/c i get lots of free time to do other things aswell as just work and that is what you want. I would only need one busy day doing carpets to earn what i was earning in a week in my previous job.
matt

« **Reply #18 on:** November 11, 2006, 12:34:04 pm »

Thanks Neil, It does depend on individual circumstances, as Neil said if you have a Mortgage and 2 kids with one on the way as I have I could'nt survive on £250 a week. So therefore I probably put myself under more pressure IE extra advertising costs etc. But when I brought my first set up back in 1987 from Ashcombe distributors ( now ALLTEC ) in Cambridge ( another story in their ) I did not have intentions of earning £250 a week nearly 20 years later.

Cheers
Justin

« **Reply #19 on:** November 11, 2006, 02:12:23 pm »

i cant under stand that way of looking at it, yes expenses are non tax deductable, but if i buy a new van at 10k i've still got to earn that 10k and you wont even see that as a tax reduction on that years earnings as its would go into the capital allowance pool and 25% per year taken out, so you have 2.5 k the first year move across to your expenditure = reduction in tax(first year of buying van) £620. wow!
so spending 10k on a new van still not that clever.

Poll

What is your weekly profit?