Members only model is really great. Costco gets a fixed revenue from every customer and thus they can sell goods at any price and still make a profit. it's really awesome
Do you think that the Costco model can work in India?
For those who don't know, Costco is an American Supermarket chain similar to Walmart and DMart. The Catch is that only those who have purchased Costco Membership can shop there. And since Costco
How Costco's Membership-Only Model Works
So Costco is the 2nd largest supermarket in the world, operating 870+ stores globally.
What's different in Costco is that to shop in their stores, you need to buy their membership (available for $60-$120 ann
Revenue, Costs, and Profit: The Foundation of Business
When running a business, understanding how money flows is crucial. The three essential elements are:
Revenue: The total income from selling goods or services.
Costs: Expenses incurred to operate
Iam from ambur , the place for leather paradise. What is your opinion regarding leather . Ian planning to start selling leather goods at reasonable price where in market they sell a lot
Too often, you sell something better than what the customer really needs, no matter the price.
Quality and price don’t matter if it’s not the right fit.
If someone wants a simple laptop for daily use, don’t push a gaming rig, offer what suits them
See More
0 replies1 like
Dipesh Pimpale
Data Analytics | 𝐀�... • 1y
Imporant metric for Start-ups - Break Even Units
Suppose we are a shoe brand and we want to calculate our units to be sold for break even (No profit No Loss)
Fixed Cost - 4,00,000
Selling Price per Unit - 1200
Variable Cost per Unit - 800
Contributi
Entrepreneurs are facing wrong networking issues these days and thus they're coming out failing in the next 2-5 years. It is from selecting their co-founder/team members/investors/mentors/first paid customer. I believe this is one of the major reason
Day 4 Business Terms
Contribution Margin – The Profit Clue Most Businesses Ignore
Most founders talk about revenue and profit… but ignore what really drives profitability:
Contribution Margin.
What is it?
Contribution Margin = Revenue – Variable C
See More
0 replies1 like
Arjun Anil
Hey I am on Medial • 1y
Hi
I am building an app for local business to market there offer , increase there sales using in app marketing and customer retention using members ship and points.
One stop solution for shops to increase profit and for consumer to find right offers
See More
22 replies7 likes
Vikas Acharya
•
Welbe • 19d
𝙊𝙡𝙙❌ 𝙫𝙨 𝙉𝙚𝙬 ✅ 𝙢𝙖𝙧𝙠𝙚𝙩𝙞𝙣𝙜 𝙡𝙖𝙬𝙨 👇🏻
Old Marketing (❌ Focus: Company Pushing Product)
* Product: Features first ❌
* Price: Cost to maximize profit ❌
* Place: Physical distribution ❌
* Promotion: Mass advertising ❌
New Marketin