How To Calculate Gross Profit (GP)

HOW TO CALCULATE GROSS PROFIT (GP)
In this 5-minute, online class, you’ll learn how to calculate gross profit (GP) and cost of goods (COG), and the difference between the two. You’ll find out what to include in your cost of goods and how to calculate gross profit percentage. You’ll also discover how to improve your gross profit margins, by lowering your cost of goods and/or raising prices. Small business owners often confuse “gross profit,” “net profit,” and “net profit after taxes” – you’ll learn the difference between these three types of profit.

NEXT STEPS
Check out fiveminuteclasses.com/small-business-financial-… for recommendations for next steps to take and to download free small business worksheets, including a gross profit worksheet and a cash flow worksheet.

WEBSITE WITH FREE VIDEOS AND WORKSHEETS FOR SMALL BUSINESSES
Visit fiveminuteclasses.com/ to watch more 5-minute “how to” videos on small business topics, including marketing, pricing, cash flow, start-up steps, and more. We have more than 50 videos, 20 worksheets, and a monthly newsletter for small businesses – all of which are free!