Quick HIt: Margin vs. Markup: They Are NOT the Same Thing

Margin and markup are NOT the same thing, and confusing them could be costing your business real money. In this Quick Hit from The Biz Show, Barry breaks down the difference between margin and markup, shows why a 30% markup produces only a 23.1% margin, and explains how this common pricing mistake can quietly eat away at profitability. In less than 10 minutes, learn the simple math every business owner should understand before setting a price. Know your costs. Know your margins. Price for profit.