Profitability is critically important for privately owned service businesses due to many factors including:
- The paychecks of the owners depend on the profitability of the business
- They are not venture capital-backed companies that can afford to lose money for an extended period of time
- Most service businesses need to be profitable to stay in business.
Unfortunately, profitability is something that many businesses struggle to attain and many business owners aren’t sure what they should be doing to improve their profit margin.
This guide aggregates our collective experience from running our own business AND running the finance departments of hundreds of small businesses, helping business owners grow their bottom line.
Download this free guide to learn how to improve key metrics such as Labor Value Multiple, Contribution Margin and Net Profit.