Percentage of profits on the first year

[GeneBiz]

I have recently started a business, and I know that at first the profits may not be as great as I hope, but I would like to know what percentage of profit would you consider acceptable to say that your business was successful during its first year of operations?

 

[Kamon c4]

On first operations of a new business I don’t always expect to make profit or probably little profit. What I’m always concerned about is the actual capital and the clients you must satisfy your clients on the first sell outs

 

[Peterlight]

I could say a 150% profit from my business will be a success in my first year of establishment

 

[GoldenLady]

Depends on my skill level when I start and at the end of the year.

If I was well-versed in that field, I would expect about 50-100%.

If I was brand new, I would be happy if I break even and learn how to make it work. Profits of about 50% will be appreciated though.

 

[Rashid]

Duration of 1 year is big span, so we need to get some profit by this, If we can not get enough money then we will hurt . if you work or start business you should have profit about $2000 per annum. This is reasonable prof for our full time business, if there is a part time business then $1000 will also be good.

 

[Succjay]

I have recently started a business, and I know that at first the profits may not be as great as I hope, but I would like to know what percentage of profit would you consider acceptable to say that your business was successful during its first year of operations?

If it's a new business I would rather focus on gathering clients than pursuing profit. At the end of the year if I could make at least 40 to 50 percent I would be happy that I did.

 

[Shayo]

You shouldn't expect profit in the first year, focus more on sales, marketing and growing. Don't raise your hopes too high, most businesses don't become profitable in their first year but since businesses have different initial costs, you can expect differences in the time it takes to make profit.
Nevertheless you can expect a 10% profit which is impressive for a business in its first year.

 

[TopSilver]

I agree with the above poster. Maybe 10-15% is a good number to try and achieve the first year. But regardless if you aren't making a lot of profit the first year, don't let it get you down because that's just apart of business where it starts. It takes one small business to build an empire. And that can happen in time considering your effort, how much your saving and so forth. So it may not be what you expect starting out but don't give up hope. Consistency and trying is what matters. But also be ready to advertise. Getting your brand out there is one of the most important parts about it but that depends on what type of company it is. Sometimes it's required and other times only a medium amount is required.

 

[CeeJase]

I didn't recall tabling my first year into business profit but my first month profit was 10% or thereabouts. It was a really big motivational pack for me , I was like if I can get this in a month then I can get more. And since then to now, am on about 20 to 25% monthly profit.

 

[Tariq Shehzad]

For vey new business I would rather focus on gathering clients than pursuing profit. At the end of the year if I could make at least percent I would be happy that I did and try to make some more and more.

 

[Ifective]

Your target is what matters. Noone what can tell you a specific percentage of profit you should make that will be a pass mark for your business.
The point is have you made enough sales that year, how well have you been able to serve your customers. Did you encounter any customer complaints that you are finding it difficult to address, how do you intend to make customers satisfaction better than what it used to be
When all these aforementioned things are achieved, profit will keep increasing year after year

 

[Chumzy]

The first year is actually the tough one for most businesses and they struggle. Finding your feat and ensuring that your business stays afloat is the goal of that business. It is not also wrong to look to take out profit especially iif it was a loan or its needed.

 

[Ridorz]

At the first year of being in business is can not able to provide a adequate profits for business man that knows what he/she is doing. The reason I said this is that, the first year supposed to be a foundation of a business in which to make it be well standards by spend a profit on business to make it expand/large with strive and ambition to gain a space in a market.

 

[Nimra Noor]

I have recently started a business, and I know that at first the profits may not be as great as I hope, but I would like to know what percentage of profit would you consider acceptable to say that your business was successful during its first year of operations?

It's depend upon work also means how honestly we are working and how passionate passionate for working but as in starting year every business needs to grow and in growing year a bit less profit we get because many people are unaware of our services gradually this profit become increase

 

[jimmann247]

Majorly, I don't expect much profit in my business at the first year, because it was a year of preparation, but I was happy with the level of profit made then, I was able to pay my rent and pay all bills at home. At least I aways expect to make between 30 - 50 percent of my capital.

 

[Ralphjoe]

For new business you shouldn't be expecting profit because you are just starting up, you don't have customers yet, what you will be having at the first would be losses and you should make provision for those losses till you start getting established and start making profit. Your losses should be also part of your expenses for the business.

 

[Azam786]

I have recently started a business, and I know that at first the profits may not be as great as I hope, but I would like to know what percentage of profit would you consider acceptable to say that your business was successful during its first year of operations?

Yes, I agree with you if we start a business and after about a year We deduct all our expenses and our employee's salary which will be left over And everything we have left after we finish our product is profitable And I think all the big companies from Bose are launching Swift after a year Having an accountant for these things

Post automatically merged: Jan 30, 2021

I have recently started a business, and I know that at first the profits may not be as great as I hope, but I would like to know what percentage of profit would you consider acceptable to say that your business was successful during its first year of operations?

Yes, I agree with you if we start a business and after about a year We deduct all our expenses and our employee's salary which will be left over And everything we have left after we finish our product is profitable And I think all the big companies from Bose are launching Swift after a year Having an accountant for these things

 

[Donkiz]

A new business is not said to have started making profit until you break-even, which can take a while depending on the amount you invested in the business and the amount of money that is coming into the business. To break-even means to recoup the amount invested to set up the business. After that has been achieved, making between 5% to 10% profit monthly is good.

 

[Yewande]

The percentage of profit you expect to earn in the first year is dependent on the time of business. Some business have their major sales at the start of the business and then decrease over the years

 

[Shoaib5600]

I think a businessman should make a minimum profit in the first year. He should give maximum discount in the first year so that more people are attracted to it .If you make a huge profit in the first year, your business may not last long.