Have you ever had a friend look at a business and randomly throw out numbers that made it seem like that business owner must be making serious bank? We’ve experienced that many times, and know from conversations with operators and owners in those industries that their real profitability is often far, far less. The reason is often that there are unique challenges to profitability in almost every industry and so we wanted to create a space for entrepreneurs from across industries and markets to discuss the challenges to profitability in their industries.

Noahh

When throwing events it can be hard for them to be profitable because you’re relying on a lot of unforeseen circumstances. You can do all the research you want & it still not work out. People might be busy, the artist online presence might not translate to real life or they may drop the ball on marketing leading to low success Read more>>

Graham Sabin

In many industries, asking for a 10% commission on $100 of revenue seems reasonable. However, in the restaurant tech space, it’s almost impossible due to the razor-thin margins restaurants operate on. Even the best-run establishments often see profit margins of around 30%, while the average hovers between 5-10%. For example, if a restaurant sells a $10 burger, they might only make $1 in profit after covering ingredients, packaging, and labor. Read more>>

Alejandro Kretzschmar

In my experience social media and modern technology has helped promote my brand Btown Lows Photography, but it has also been part of the reason sales don’t stay consistent all year around. The average person will see a picture, like it and then move on to the next picture knowing it will always be on the account. Before social media if someone had a picture taken of either themself, families or in my case a special car they would run to have a photographer print or develop the image because they cherished that moment. Now with social media and smart phones people have gotten rid of the middle man, pictures are taken on phones and uploaded, so the need for a dedicated photographer isn’t there anymore. So as a modern day photographer I have to grow with the times and stay educated on everything changing with social medias and new technology to keep my brand relevant and providing a service. Read more>>