LADY GAGA MAKES MONEY – SO SHOULD YOU!
How much markup does Lady Gaga use?
Old news maybe, but read up anyway:
- Margin is percentage of the final selling price that is profit.
- A markup is a percentage added to the cost and the cost and added percentage becomes the selling price.
Markup and margin are different, a selling price with a margin of 50% results in more profit than a selling price with a markup of 50%.
Marking up your costs by 50% results in a margin of 33% or 33% gross profit.
Overheads (like rent, fixed costs, corporation tax, wages, etc) still need to be deducted before you can know if you made money or not. Your net profit is what’s left after everything else has been accounted for.
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