Is $20 profit daily for a small store good or not?

[Starmix]

Assuming you have a small store which is strategically located in a populous location, hence, despite your store small but you are able to have a net profit of $20. In Philippines peso it is equivalent to 1,000 plus, depending on the dollar rate. If you're consistent to have this daily profit most probably, you could have a net profit of more or less
$600 a month.

Estimate your expenditures like bills, food, vitamins, gas, fare, saving and a capital to roll. If you're wise enough expand your store because your location is strategic, so you could have a triple net profit every month. Therefore, you can save more, and kids eat more nutritious food. What can you say?

 

[Sanjeev]

It depends on your monthly budget. If you ask me then it's not sufficient for me. If it's a side business then it's fine.

 

[Starmix]

That $ 600 dollar is only an assumption and estimation. And that's the net profit excluding the family expenses. Yes it's true. It's not enough so it's best to expand the business to profit more.

 

[eLdavis]

Over here twenty dollars is around 30,570 in our local currency. Making that a day as profit is considered a good start. Remember profit means you have removed the cost.

 

[Sanjeev]

That $ 600 dollar is only an assumption and estimation. And that's the net profit excluding the family expenses. Yes it's true. It's not enough so it's best to expand the business to profit more.

If it's profit then it's fine and one should try to expand the business so that the profit may increase.

 

[Suba]

I cannot answer because the profit is written in a motery units ($ 20) for profit every day, I do not know how much capital has been spent to set up a shop, and how much turnover per day. Business people often analyze profits in the percentage of sales such as 10% to 30% of sales.

If business money is mixed with personal money, it is often chaotic, especially business profits are used to meet the needs of life, then the business will not develop. It is okay for business people to take their rights as salaries but not to meet all needs.

 

[Fire&Rain]

For me, that amount daily is a massive accomplishment. Considering that its a small business and that its my profit, i would have to literally open another small business else where with the first profit or expand the existing.

 

[King Belieal]

If I make up to that amount in my business every day, I am certain that I would expand the business to times 4 I three months. That's very good profit here in my country.

 

[Starmix]

The twenty dollars profit is also good here for small stores which is why it's best to expand it for it shows a good profit despite store small It's also located strategically. That's one important thing for a small business to grow.

 

[freelancermaria]

I think that already is quite a good profit for a day, given the stiffer competition this day. It can be enough, especially if you know how to budget your money. Make sure to live within your means.

 

[Starmix]

I also agree that $20 net profit daily for a small store is significant, considering it is just a small store. However, its location plays a vital role in having this net amount daily.

 

[Sanjeev]

I also agree that $20 net profit daily for a small store is significant, considering it is just a small store. However, its location plays a vital role in having this net amount daily.

Location is always important for a store for a good business. Stationary shop always does well when it's nearby a school, like this there are several examples.

 

[Kross]

That profit margin is what some small businesses make in a whole month. That's an option excellent profit margin.

 

[Starmix]

Location is always important for a store for a good business. Stationary shop always does well when it's nearby a school, like this there are several examples.

This store I meant is located near a public market where people are passing nonestop. The owner is also friendly and accommodating to customers.

 

[gwolf666]

It depends on which store we are talking about, because if the store spends a lot on replenishing whatever it sells at the end of the month then it is bad, you would need to earn more, it depends on what you spend at the end of the month to replenish the store is the amount you need to earn whether or not you earn more apart from what you automatically have as profit.