The Elusive Term "Profit"
In Bin There Dump That vernacular we define profit as owner "discretionary income", "net profit margin", "the bottom line" or Earnings Before Interest, Taxes and Amortization (E.B.I.T.A. ). Have you reviewed a Profit and Loss statement before? If so you’ll understand that it usually contains income or gross revenue at the top. Next is subtracted cost of goods sold and fixed expenses. The last numbers are the bottom line or profits.
As you interview our current franchise operators you'll ask them about their numbers, expenses and net profit margins. This is a key aspect of learning about our brand and answering two of the most vital questions? "Does this system work and can I make money doing it?" This is Step Four in our franchise awarding process.
Key Point to Remember - your success is dependent on your ability to follow the system and execute the model.
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