Recent content by Jack Burton

  1. Jack Burton

    Calculating turnover - Is my maths right?

    I can see where some confusion may have come from, the title of my post says "Calculating turnover", which may have caused some confusion with what I was intending to do. This was to see if my business idea was viable by making enough profit to cover my overheads. Thanks to everyone for the...
  2. Jack Burton

    Calculating turnover - Is my maths right?

    Thanks Mr.D. Based on other peoples opinions I included VAT in my calculations to be on the safe side. I think I will approach an accountant or business advisor to sit down with and go over my idea and numbers.
  3. Jack Burton

    Calculating turnover - Is my maths right?

    ? I see what you're saying, that hadn't been missed by me, and I considered it a given. I would consider my calculations being accurate to illustrate what I would to achieve to make the business work. Either way, I still need to sell 192 units a day regardless, that is the number I need to...
  4. Jack Burton

    Calculating turnover - Is my maths right?

    Alright, So having another crack at this. One of my potential suppliers helpfully gave me the calculations to work out the price based on a gross profit % + VAT, which would return my gross profit for each. Gross Profit Average Per Unit = £1.30 Profit Margin = 31% Markup = 59% If I need to...
  5. Jack Burton

    Calculating turnover - Is my maths right?

    I would aim to be trading 5 days, or possibly 6 per week, and I would be the sole employee. I am not averse to eating my dinner at the till, and if I need a toilet break closing the shop for 2 minutes, while inconvenient would be cheaper than hiring someone else. The other day(s) I would use for...
  6. Jack Burton

    Calculating turnover - Is my maths right?

    My new calculations: Average Unit Cost £ 2.22 Average Sale Price £ 3.99 Gross Profit Margin £ 1.77 Markup 80% Daily Cost of Operating (open 5 days) £ 309.75 Break even £ 388.50 per day This isn't with VAT added on, how would I go about adding that in? multiply the Average...
  7. Jack Burton

    Calculating turnover - Is my maths right?

    This is exactly what I needed to explain it. I had got the numbers all mixed up. Thanks for the help, I'll get my numbers sorted and post back.
  8. Jack Burton

    Calculating turnover - Is my maths right?

    VAT I should be below the threshold. However, my current calculations havent included tjis incase I go over. I was coming from the direction of, what are my anticpated monthly costs going to be, and realistically how much would I need to sell per day to keep the lights on. Scoping out...
  9. Jack Burton

    Business Plan - Struggling for Market Research

    Hi. I have found some suppliers who have a great range and managed to get a list of over 300 beers together, this was to give me a rough idea to work from. Doing my calculations I am starting to see why many off-licences closed down, or changed their business structure to include other...
  10. Jack Burton

    Calculating turnover - Is my maths right?

    Hi All, I posted recently about opening a bottle shop (off-licence), and am progressing with the idea. So I contacted a bunch of suppliers to get an idea of costings for beers, put them into an excel sheet to calculate the costings, which I broke down as: Case Price / Case Size = Unit Price...
  11. Jack Burton

    Business Plan - Struggling for Market Research

    This is something that is critical. I have been thinking about this and its a catch 22 a lot of the time. To get a property which has good footfall costs a lot in rent, but that may outweigh the potential maximum earnings you can achieve. However, without the footfall you wont reach the minimum...
  12. Jack Burton

    Business Plan - Struggling for Market Research

    Sells any alcohol really, but they mostly come in bottles. This is my exact thought process on this idea. There is a bottle shop near me, they only sell beers, but it has a bar attached and the bottle shop is more an after thought. They would be competition, however, I would be offering a much...
  13. Jack Burton

    Business Plan - Struggling for Market Research

    The bar idea wouldn't translate, I agree... as much as it is tempting to conduct that "research" :D Now the stinger... I am currently employed in the area I plan to open my shop, however, not in any conflicting industry. So it would put my job at risk to conduct any research in my area, as...
  14. Jack Burton

    Business Plan - Struggling for Market Research

    A bottle shop is really just fancy name for an off license, they're becoming more popular now but generally you find them attached to a bar (long term plan :) ) So the plan is to sell a large selection of beers, ciders, and spirits from locally sourced breweries and distilleries, but also...
  15. Jack Burton

    Business Plan - Struggling for Market Research

    Hi All, I want to open a bottle shop, and so before jumping right into signing a lease I am doing my business plan to make sure the idea is viable! One area that I seem to be struggling is finding market research data, most of what I am finding is industry wide, or costs over £2000 to buy...
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