What are the opening hours?

Monday 09:00 - 17:00 Tuesday 09:00 - 17:00 Wednesday 09:00 - 17:00 Thursday 09:00 - 17:00 Friday 09:00 - 17:00 Saturday 09:00 - 12:00

Zimbard Group of Companies, 409 Huxton Road Waterfalls, Harare (2026)

16/07/2024

Unlock your full potential for financial prosperity

Emotions, dreams, and desires are the cornerstones of our aspirations, propelling us towards the path of our self-discovery and prosperity. In the journey of life, we often find ourselves at crossroads when it comes to decisions that impact our financial well-being. Jack Ma's poignant analogy about monkeys choosing between bananas and money strikes a chord deep within us, reflecting the fundamental dilemma between the security of a fixed salary and the limitless potential of entrepreneurship.

Financial prosperity

Financial prosperity is not merely about accumulating wealth; it embodies the freedom to manifest your desires and live life on your terms. The pursuit of financial stability is a universal objective, resonating with individuals across borders and cultures. However, the key lies in understanding that true wealth is not confined to a paycheck but expands infinitely through innovative ventures and bold choices.

Jack Ma's analogy on money and bananas

The wisdom encapsulated in Jack Ma's analogy unveils a profound truth about human behavior concerning financial decisions. The allure of immediate gratification frequently blinds us to the long-term benefits of strategic investments and calculated risks. Like monkeys picking bananas over money, many individuals opt for the security of a stable job without realizing the abundant possibilities that entrepreneurship offers.

The dichotomy between employment and entrepreneurship

The dichotomy between working for a salary and venturing into the realm of entrepreneurship is a pivotal consideration that shapes our financial trajectories. While traditional norms advocate the safety of a fixed income, the magic of entrepreneurship lies in creating opportunities, shaping industries, and driving innovation. It is a leap of faith that opens the doors to boundless possibilities and personal growth.

The influence of education on financial mindset

The foundation of our financial mindset is often laid in our formative years, where education plays a crucial role in shaping our beliefs and values related to money and success. Unfortunately, the conventional system emphasizes academic excellence for employment rather than fostering entrepreneurial spirit and financial literacy. Breaking away from this paradigm is the first step towards unlocking our true potential for financial prosperity.

Overcoming the cycle of wage labor

The cycle of wage labor perpetuates a cycle of dependence on external sources for financial sustenance, limiting our capacity to build wealth and thrive independently. Breaking free from this cycle requires a shift in perception, where individuals embrace the risks and rewards of entrepreneurship over the security of a steady paycheck.

The power of entrepreneurship in wealth creation

Entrepreneurship transcends mere monetary gains; it embodies a mindset of resilience, creativity, and unwavering determination. By venturing into the realm of entrepreneurship, individuals not only create opportunities for themselves but also contribute to economic growth and societal advancement. The power of entrepreneurship lies in its ability to transform dreams into tangible realities, fostering a legacy of prosperity and abundance.

Profit vs. Wages: A comparative analysis

The distinction between profit and wages lies in their ability to generate wealth and financial growth. While wages provide stability, profits have the potential to propel individuals towards financial independence and abundance. By prioritizing profit over wages, individuals can unlock a world of opportunities that lead to sustainable prosperity and enduring success.

Taking calculated risks for financial independence

Risk-taking is inherent in the entrepreneurial journey, where uncertainties and challenges act as catalysts for growth and innovation. By embracing calculated risks and stepping outside comfort zones, individuals pave the way for financial independence and self-determination. It is through adversity that true resilience is forged, leading to unparalleled personal and financial growth.

Conclusion and summary of key points

In conclusion, the path to financial prosperity is paved with choices that define our destiny and shape our legacy.
By embracing the power of entrepreneurship, individuals can break free from the conventional mindset of wage labor and unlock their full potential for success.
Profit truly reigns supreme in the realm of financial growth, offering limitless possibilities for those bold enough to seize them.

FAQs about unlocking financial prosperity

1.
How can I transition from a wage-based income to entrepreneurship?
2.
What are some key steps to identify entrepreneurial opportunities?
3.
Is it necessary to have prior business experience to start a venture?
4.
How can I overcome the fear of taking risks in entrepreneurship?
5.
What resources are available for individuals seeking to explore entrepreneurship?

Did you know that just by being around high-performance individuals, you can increase your own performance by 15%+

Please reach out to me if this was of any value to you.

Book for a Coaching|training|Workshop session

+263772218092

Everything is Possible

To your greatness,

Coach Doc Luke Moyana
Founder/CEO Business Wealth Network.
| Professional Business Coach | Personal Development Coach |Motivational Speaker | Mentor | Trainer | Facilitator |

| MBA Milan Italy |
| MBA Catholic University ZW |
Multi Award Winning Business Coach.
ICMF Business Coach of the Year 2021/2022/2023

[email protected]
+263772218092
[email protected]

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Nothing will change until YOU do something to change it.

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www.zimbard.co.zw

03/07/2024

How to make your money work for you.

In today's society, the idea of working for money has become a common mindset. Many individuals spend the majority of their lives working tirelessly to earn a paycheck, only to find themselves living paycheck to paycheck. However, there is a more strategic approach to financial success that involves making your money work for you. By investing in cash flow assets that generate income, individuals can break free from the cycle of working for money and instead create a sustainable source of passive income.

One effective way to make your money work for you is to sell your services as a consultant, save, and invest. As a consultant, you have the ability to leverage your expertise and skills to generate income. By saving a portion of your earnings and investing in cash flow assets such as rental properties or dividend-paying stocks, you can begin to build a passive income stream that will continue to grow over time.

Another strategy is to borrow money to invest. While borrowing money may seem counterintuitive, when used wisely, it can be a powerful tool for building wealth. By borrowing money at a low-interest rate and investing it in assets that have the potential to generate a higher return, you can accelerate your wealth-building efforts and increase your passive income.

Additionally, saving a portion of your income, topping it up with a bit of debt, and investing can be a viable strategy for making your money work for you. By saving diligently and using debt strategically, you can maximize your investment opportunities and grow your wealth over time. This approach allows you to leverage both your savings and borrowed funds to generate income and build a diversified portfolio of cash flow assets.

Furthermore, working for a sea*on, starting a side hustle, saving, and investing can also be a successful path to financial freedom. By working for a concentrated period of time, starting a side business to generate additional income, and then saving and investing the profits, you can create a solid foundation for long-term financial success. This approach allows you to build multiple streams of income and grow your wealth steadily over time.

In conclusion, the key to financial success lies in making your money work for you. By investing in cash flow assets that generate income, individuals can break free from the cycle of working for money and create a sustainable source of passive income. Whether through selling services as a consultant, borrowing to invest, saving and investing, or working for a sea*on and starting a side hustle, there are various strategies that can help individuals achieve financial independence and build wealth for the future. It is time to shift our mindset from working for money to making our money work for us.

Did you know that just by being around high-performance individuals, you can increase your own performance by 15%+

Please let me know if this was of any value to you.

Book for a Coaching session

+263772218092

Everything is Possible

To your greatness,

Coach Doc Luke Moyana
Founder/CEO Business Wealth Network.
| Professional Business Coach | Personal Development Coach |Motivational Speaker | Mentor | Trainer | Facilitator |

| MBA Milan Italy |
| MBA Catholic University ZW |
Multi Award Winning Business Coach.
ICMF Business Coach of the Year 2021/2022/2023

[email protected]
+263772218092
[email protected]

https://chat.whatsapp.com/EiXcrF5nevn49fxh3RW3GK

Nothing will change until YOU do something to change it.

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www.zimbard.co.zw

28/06/2024

Company Re-registration

If you have a registered a Business in Zimbabwe, The Companies Act Chapter 24:32 has been Amended to Companies and Other Businesses Entities Act (24:31).
All businesses registered before March 2024 must be re-registered under the new Act and using the new system otherwise your company will be struck off from the company register.

Get in touch with us today:

Call/App +263772218092

Zimbard Business Advisory Services.

Experience .
Expertise
Excellence and Swift Service is Our Hallmark

Cell:
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+263 7 71564582
086440054233

email: [email protected]

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25/06/2024

Say goodbye to last-minute rushes and renew your tax clearance certificates smoothly.

Did you know?

All tax clearance certificates issued from January to June 2024 will expire on the 30th of June 2024?

This means from 1 July 2024, all businesses will be required to renew their tax clearance certificates to stay compliant.

Now is the right time to plan about getting your tax affairs in order and put your business ahead

Call/App +263772218092

Zimbard Business Advisory Services.

Experience .
Expertise
Excellence and Swift Service is Our Hallmark

Cell:
+263772218092
+263 7 71564582
086440054233

email: [email protected]

409 Huxton Road
Waterfalls.

www.zimbard.co.zw

24/06/2024

8 Easy ways to separate your personal and business finances

Managing finances can be a daunting task, especially for business owners who have to juggle personal and business expenses. However, separating your personal and business finances is crucial for the success and stability of your business. Not only does it help with organization and tax purposes, but it also protects your personal assets in case of any legal or financial issues. In this article, we will discuss 8 easy ways to effectively separate your personal and business finances, ensuring financial stability and peace of mind for business people. By implementing these strategies, you can streamline your finances and focus on what really matters – growing your business.

Table of contents

1. Formalize and Register Your business legally
2. Open a business checking account and get a business debit card
3. Get a business credit card
4. Pay yourself a salary
5. Separate your receipts and keep them
6. Track shared expenses
7. Record when you use personal items for business purposes
8. Educate your employees and partners,

Learn how to separate your personal finances and your business finances in order to better manage your cash.

Certain things don’t mix well — like your personal finances and your business’s. Keeping these things separate not only helps you reduce problems, it also greatly simplifies things and makes it easier to manage your finances.
Don’t know where to start with separating out your personal and business finances? Let’s look at some easy ways to do it.

1.
Formalize and register your business legally
If you haven’t already, establish a separate legal entity for your business, such as a Private Limited Company (PVT), Private Business Corporation (PBC)
Zimbard business Advisory services has tips on what structure may work for you, but it’s always best to get advice from a legal expert. Establishing a separate legal entity for your business has many advantages, including the ability to protect your personal assets from business debts, losses, and lawsuits.

2.
Open a business checking account and get a business debit card
If you’re serious about keeping your personal and business finances separate, opening a checking account strictly for your business is a no-brainer. If you’re strict about using it (along with your business debit card) for business needs and business needs alone, then getting a clear and complete picture of these expenditures when tax time rolls around becomes a simple matter of reviewing your bank statements.
Opening a business debit card or credit card allows you to stop using personal accounts for business transactions, and it’s an easy way to draw a clear line between personal and business expenses.

3.
Get a business credit card
A business credit card may also help you build stronger business credit scores, as long as you pay your bills on time. A strong business credit profile may boost your borrowing power and help you qualify for small business loans with lower interest rates. As a business owner, you are likely building business credit rather than personal credit.

4.
Pay yourself a salary
You’re your own boss; make it official and write yourself a check each month from your business checking account. Transfer this to your personal checking account, and then behave as you would if you were working for someone else. Regarding personal needs, treat your business checking account and your business credit card as you’d treat a former employer’s — hands off.

5.
Separate your receipts and keep them
What better way to demonstrate your commitment to keeping your personal and business expenses separate than by physically separating your respective receipts?
Think good old-fashioned folders, or separate folders in your email for digital receipts.
This simple practice helps you sleep easier knowing that if Zimra ever comes knocking, you’re prepared.

6.
Track shared expenses
One advantage of being a small business owner is that many business expenses are tax-deductible.
Taking a prospective partner to a nice lunch to talk things over?
Stocking up on coffee for your employees? Write it off.
At the same time, avoid the temptation to use the business card for personal needs.
You can ask a cashier to ring up purchases as separate transactions every time. Or you can use a business debit card, Not only will separating expenses make things easier for your accountant come tax time, but you also protect yourself by keeping a spotless financial record and continuing the keep-the-receipts-separate discipline that can save you so much headache down the road as your company grows.

7.
Record when you use personal items for business purposes
We all wish we could drive a company car and fly a company jet. But for most small business owners, the car that gets you to the gym in the morning is also what gets you to that big marketing convention in another town.
The same thing goes for your cellphone, and any item that you use regularly for both personal and business purposes. Any expenditure that you can legally write off should be written off to save you money come tax time. Zimbard Business Advisory Services can help you figure out what’s deductible, what’s not, and how to keep the right records.

8.
Educate your employees and partners
You know the difference between a personal and business expense; now make sure that the other people involved in your business do, too.
Get everybody on the same page, committed to the same goals. Staying disciplined is easier if others are doing it with you.
At first, it may not be easy to keep things neat and tidy. But even if you can work on a few of these tips this year, you’ll save both time and money during the next tax sea*on, an audit, or even while looking for financing. Strong businesses grow by careful, incremental improvements, and learning to keep your personal and business finances separate is the perfect place to start.

Did you know that just by being around high performance individuals you can increase your own performance by 15%+

Let me know if this was of any value to you.

+263772218092

Everything is Possible

To your greatness,

Coach Doc Luke Moyana
Founder/CEO Business Wealth Network.
| Professional Business Coach | Personal Development Coach |Motivational Speaker | Mentor | Trainer | Facilitator |

| MBA Milan Italy |
| MBA Catholic University ZW |
Multi Award Winning Business Coach.
ICMF Business Coach of the Year 2021/2022/2023

[email protected]
+263772218092
[email protected]

https://chat.whatsapp.com/EiXcrF5nevn49fxh3RW3GK

Nothing will change until YOU do something to change it.

#
&Renewal #
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Companies available #

www.zimbard.co.zw

05/06/2024

I am not done Yet.

As a 57-year-old in Zimbabwe, it is never too late to start creating and generating wealth.
In fact, there are several steps you can take to kickstart your journey towards financial success.

First and foremost, consider investing in yourself.
This could mean furthering your education or learning new skills that are in demand in the current job market.
By enhancing your knowledge and expertise, you can increase your earning potential and open up new opportunities for yourself.

In addition to investing in yourself, starting a side hustle can be a great way to generate extra income. This could involve freelancing, consulting, or even starting a small business.
By diversifying your sources of income, you can increase your overall financial stability and create additional wealth.

Saving and investing are also crucial components of wealth-building.
Make a habit of saving a portion of your income and investing it wisely in assets that have the potential to grow over time.
By taking a long-term approach to investing, you can build wealth steadily and secure your financial future.

Networking is another important aspect of creating wealth.
Connect with like-minded individuals who can offer advice, support, and potential business opportunities.
By building a strong network of contacts, you can access valuable resources and opportunities that can help you on your path to financial success.

Lastly, staying informed is key to making sound financial decisions. Keep up to date with current trends in the economy and financial markets so that you can make informed choices about your investments.
By staying informed and educated, you can position yourself for success in the ever-changing world of finance.

In conclusion, creating and generating wealth is a journey that requires patience, discipline, and perseverance. By investing in yourself, starting a side hustle, saving and investing, networking, and staying informed, you can set yourself on the path to financial success. Remember, it's never too late to start building wealth – so take the first step today and embark on your journey towards a prosperous future. Good luck!

Did you know that just by being around high performance individuals you can increase your own performance by 15%+

Let me know if this was of any value to you.

+263772218092

Everything is Possible

To your greatness,�Coach Doc Luke Moyana
Founder/CEO Business Wealth Network.
| Professional Business Coach | Personal Development Coach |Motivational Speaker | Mentor | Trainer | Facilitator |

| MBA Milan Italy |
| MBA Catholic University ZW |
Multi Award Winning Business Coach.
ICMF Business Coach of the Year 2021/2022/2023

[email protected]
+263772218092
[email protected]

https://chat.whatsapp.com/EiXcrF5nevn49fxh3RW3GK

Nothing will change until YOU do something to change it.

#
&Renewal #
#
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Companies available #

27/05/2024

Ready to Launch Your Dream Business in Zimbabwe?

Starting a business can be an exhilarating and rewarding endeavor. If you are considering launching your dream business in Zimbabwe, it is essential to understand the type of company that best suits your needs and the necessary steps to formalize your venture.

In Zimbabwe, there are two primary options for company registration:
Private Business Corporation (PBC) and Private Limited Company (PLC) or Pvt Ltd.
Each option caters to different business sizes and ownership structures, and both have specific requirements and benefits.

The Private Business Corporation (PBC) is an ideal choice for small businesses and single ownership ventures.
This type of company registration provides a simplified process and fewer legal requirements compared to other options. By registering as a PBC, you can enjoy the flexibility of owning and managing your business independently. PBCs are suitable for individuals who want to start small businesses and have full control over decision-making processes.

On the other hand, the Private Limited Company (PLC) or Pvt Ltd is a more comprehensive option that caters to businesses of all sizes and types. Registering as a Pvt Ltd company ensures that you have all the necessary paperwork in place to meet the requirements of various business stakeholders. Pvt Ltd companies offer advantages such as limited liability, which protects the personal assets of company owners and shareholders. This type of company registration is often preferred by businesses that plan to expand and seek external investment.

Once you have chosen and registered your company, there are several essential steps to take to formalize your business in Zimbabwe. These steps will help you establish a solid foundation and comply with legal and regulatory requirements.

Firstly, opening a company bank account is crucial for monitoring and managing funds.
A dedicated business bank account allows you to separate personal and business finances and facilitates efficient financial management.

Obtaining a tax clearance certificate is another vital requirement. This certificate signifies that your company is in full compliance with Zimra (Zimbabwe Revenue Authority) taxes. Having a tax clearance certificate not only demonstrates your commitment to fulfilling tax obligations but also enhances your credibility when engaging in business transactions.

To participate in government tenders, Praz registration is necessary. Praz registration enables your company to be eligible for government procurement opportunities. This registration is essential for businesses aspiring to engage in public sector projects and contracts.

Acquiring a unique vendor number is also crucial. This number is issued to companies that wish to supply goods or services to the government and its related agencies. It facilitates payments and ensures smooth transactions between your company and the government.

Additionally, registering with NSSA (National Social Security Authority) is vital for both employers and employees. This registration ensures that your employees are covered by the pension and other benefits scheme, as well as the accident prevention and workers' compensation insurance fund. Prioritizing the welfare and safety of your employees is essential for building a reputable and responsible business.

Developing a distinctive corporate identity, including designs that represent your company, is another critical aspect of formalizing your business. A strong corporate identity helps establish brand recognition and highlights the uniqueness of your products or services.

Considering the automation of your business through website development is also highly recommended. A well-designed and user-friendly website enables potential customers to learn about your business, access your products or services, and interact with your brand. It enhances your online presence and expands your reach in the digital marketplace.

If you require professional assistance in registering and formalizing your business in Zimbabwe, Zimbard Business Advisory Services is here to help. With our experience, expertise, and commitment to excellence, we provide swift and reliable services to support your entrepreneurial journey. We offer shelf companies for your convenience, allowing you to start your business quickly and efficiently.

To get in touch with us, you can reach us at the following contact details:

Cell:
+263772218092
+263 7 71564582

Email:
[email protected]

No matter where you are located, distance is not a barrier to our exceptional service. We look forward to assisting you in launching your dream business in Zimbabwe with professionalism and efficiency.

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16/05/2024

The importance of knowing your numbers as a business person

This is one of the topics fellow entrepreneurs hate, citing rea*ons like, "I'm not good at math, etc". However, as a business owner you should know and manage your finances properly for the business to continue doing well.
The CEO of Camping World and serial investor, Marcus Lemonis said, "If you don't know your numbers, you don't know your business". He said you should know your numbers even better than your bookkeeper if you have one. You don't have to be a math guru and neither do you need to be an accountant but, at the very least you should understand the basics of accounting and finance. You need to be able to perform basic calculations (addition, subtraction, division and multiplication).

Understanding your numbers:

1.
Helps you to make informed decisions based on real data, real numbers than mere blind planning.

2.
Allows you to know how much Income (Net Profit), Revenue (Total Sales), Gross Profit/Loss did your business make in a particular financial period e.g. previous month, the last quarter, the last 6 months, etc.

3.
Helps you to have a clear understanding of much receivables you have (the money people and other businesses owe you) and how much payables you have (the money your business owe people or other businesses). This helps in making your budgets correctly.

4.
Gives you an understanding of how much expenses you incurred e.g. last month. If there were too much expenses you can actually see and understand what took out most of the cash from the business and you subsequently put measures in place to cut off those expenses to widen the profit gap. You can pinpoint where exactly your business is loosing money and getting burnt, and then put corrective measures in place.

5.
It allows you to know and understand your cashflows - how much money entered the business and how much was taken out? What was the money used for? Where did your business get most of the money from?. You will know which products/services are performing well in terms of sales.
With this information you will refrain from using money on products/services that are not paying you well.

6.
Helps you to understand what your business needs as working capital. How much to take home from the profits and how much to invest back into the business. These insights will help you avoid taking home more than what your business is making as profit and saves you from driving the business into a cash crunch

7.
Helps you to avoid what's known "Overtrading". This is an over ambitious expansion of operations from an inadequate financial base. An attempt to grow way too quick from a limited amount of capital, resulting in business failure.

8.
The numbers tell you a story. They paint a picture about your business - whether you are in a good path or you are going into a grave.
By understanding the picture, you take corrective actions and make adjustments before it's too late.

Surprisingly, most small business owners don't even know and care how much their business is making, at what profit margins are they trading, what percentage revenue growth - is there an increase or drop? They just do their business blindly without even knowing if they are making any profit or not. Some could be trading under loss or simply making razor thin profits, which results them in doing business without any growth but just circulating at one point.

In this article we are going to explain two financial statements that can help you understand where your business is coming from and going

1.
The Cashbook

This is a financial document used to track and manage your cashflow i.e. cash which entered the business (Cash Receipts) the cash that exited the business (Cash Disbursements).
It specifies how much and what exactly the cash was used for or where the cash was received from.
It gives you the cash balance your business has at any given point in time i.e Cash On Hand (COH).

You can capture and feed the data (numbers & information) into the cash yourself or through your Bookkeeper/ Cashbook Clerk if you have one. You can do this using

a)
Various accounting softwares like QuickBooks

b)
ERP's with accounting modules integrated within them e.g. OpenBravo, SAP, Microsoft Navision/Dynamics, Sage Pastel, etc.

c)
Cash booking mobile apps like CashBook.
The app can be downloaded for free on Google Play Store.

d)
You can also use spreadsheets e.g Microsoft Excel.

e)
You can also use pen and paper if you can't afford and manage to use the above. It's actually better than not doing anything at all

2.
Profit & Loss Account (Income Statement)

This financial statement reports your business' financial performance over a particular financial period. It allows you to determine whether your business is making any profit or not. It is summarized by the following accounting equation

Revenue - Expenses = Income

Below is an explanation of the elements in equation above:

i)
Revenue
This is the Total (Gross) Sales your business did in a particular financial period, before any expenses have been deducted.

ii)
Expenses
This is the total money your business used in a particular financial period e.g. last month. Expenses are categorized into two:

a)
Cost Of Goods Sold (COGS)
These are the total costs incurred from manufacturing or providing goods and services you only sold in that particular financial period in question.

Example: If you're an owner of a small store and you buy 70 boxes of soap for $10 each and sold only 50 boxes for $15 each to get $750, what goes into your COGS is $500 not $700. If it costed you $15 to transport (freight in/freight out) the 70 boxes, then about $10.71 is also added to your COGS (If 70 boxes costs $15, then 50 boxes costs $10.71). If you paid $3 to a guy who loaded/offloaded the boxes (direct labor), then $2.14 is also added to COGS. In total, your COGS will be:

$500 + $10.71 + $2.14 = $512.85.

If you didn't involve any transport or direct labor, your COGS will be just $500.

The COGS figure is also calculated using this formula:

(Beginning Inventory Value + Purchased Inventory Value) - Ending Inventory Value

b)
Operating Expenses (OPEX)
These are expenses your business will incur for it to be able to operate on daily basis to keep the doors open.
They are further divided into two categories: Fixed Costs also known as Overheads or Indirect Costs and Variable Costs a.k.a Direct Costs.
Fixed costs are those you will have to pay whether you sold anything or not, as long as you're still in business e.g. rent and salaries.
Variable costs are those which vary with the volume of business you are doing e.g direct labor.

If you spend $50 to pay your storekeeper, $40 on rent, $5 electricity, $2 for cleaning material and $5 on airtime to call customers, then your Operating Expenses will be

OPEX = $50 + $40 + $5 + $2 + $5 = $102

This implies that:

Expenses = COGS + OPEX
Expenses = $512.85 + $102
Expenses = $614.85

c)
Gross Profit (G.P)
This is the total money left after the COGS expense has been deducted from revenue. It is calculated as follows

G.P = Revenue - COGS
G.P = $750 - $512.85
G.P = $237.15

d)
Gross Profit Margin
This is a*o known as profit margin or simply margin and is expressed as a percentage.

Margin = G.P / Revenue
Margin = $237.15/$750
Margin = 0.3162 (≈ 32%)

This implies that the soap is being sold at a margin of about 32% and a markup of about 0.46%

Margin can also be calculated using formula below

Margin = Markup / (1+ Markup)

Remember margin and markup are two different things and most people confuse them as one. Markup is calculated by the following formula:

Markup = G.P / COGS

or;

Markup = Margin / (1 - Margin)

A markup of 100% is a 50% margin. This means if you buy 10 bars of soap for $100 and sell them for $20 each to get $200 without incurring any additional expense apart from the purchasing price, your margin is 50% and your markup is 100%.

e)
Income
This is the total amount of money that is left after all expenses have been deducted from revenue.
It is also known as net profit, the real money your business made in a particular financial period. That is the money you can take home or choose to invest back into the business for growth.

Bonus Tip
If you know your average margin or average markup for your business and would like to quickly determine at what price should you sell your product, below are the formulas which may help you

Price = G.P / Margin

or;

Price = COGS / ( 1 - Margin)

or;

Price = COGS x (1 + Markup)

Marketing Dept, Women in business.

Women in business international association
Master Business Coach
Luke Moyana
+263772218092

Did you know that just by being around high performing individuals, you can increase your performance by 15%+

If you are looking for support with starting your own business, registering your own business, growing your business and scaling up your business, I invite you to join WIBIA as a fully paid member or set up an appointment with WIBIA

Please reach out to me if this was of any value to you. +263772218092

Please reach out to me as well if you would want to be involved with WIBIA as a Volunteer, Resource Person, Mentor,Coach,Partner, Affiliate, Sponsor, Financier or Investor.

Do you want visibility of your company, get in touch with WIBIA for Advertising Space.

Don’t be left lagging behind, become a fully paid up member of WIBIA today and enjoy the full bouquet of benefits .

The Women in business international association (WIBIA) is an organization that provides support, resources, and networking opportunities for women in the business world.

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Zimbard Group of Companies

16/07/2024

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27/05/2024

16/05/2024

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Monday	09:00 - 17:00
Tuesday	09:00 - 17:00
Wednesday	09:00 - 17:00
Thursday	09:00 - 17:00
Friday	09:00 - 17:00
Saturday	09:00 - 12:00