Do I need to use all modules?
That depends on the type of business you are in. If you are an accountant, attorney, or consultant you will probably not have inventory and your only equipment may be the computers you use for each client. However, you will need to use the employee module part of it in order know exactly how much to charge per minute for each billable employee to achieve any desired profit.
The industry modules are for most commonly used services (or jobs,) does that mean that this does not cover bid estimates?
No, you can certainly still use this to do bid estimates. Refer to the subcontractor category in outside services in each job
How can I compete against the internet with my inventory prices?
Before Profit Solver, you would charge markup on your inventory to help achieve the income of the business. In Profit Solver, labor produces the true income you desire for your business. Any income derived from inventory or equipment can be seen as additional profit. This allows you to be very competitive with your markup as you will only need to offset your cost of inventory. Essentially, you do not need a markup on inventory and can offer your inventory at cost and be very competitive.
How can I be competitive with my pricing if the service fees are based on the profit I would like for my company?
By inputting your current prices you will be able to immediately distinguish those services that you intentionally lower the price on to be competitive. Also you will be able to identify those non competitive services that are under priced or overpriced. On those services you deem as competitive, don’t change your fees. On those services that are not competitive, you will be able to adjust those fees to counter the services you intentionally lower the price on. You may consider some services which are not worth your while to continue doing.
Does Profit Solver integrate with other software?
Profit Solver is a stand alone program. You will need to print out the service fees and input them into your other software program that ask for the fees you charge.
Is there any type of service business this does not apply to?
Patent # US7,742,957 B2 can be applied to every business.
My business is seasonal, can I still use this?
Yes, Profit Solver shows you how to charge based on a specific work period so that you know you are still making money.
I’m starting a new business; I have no client base history and don’t know what I should be charging? Can Profit Solver help me?
Yes, using your projected sales revenues and projected costs, Profit Solver will show you what you should be charging to make your desired profit or at least to break even based on your estimations.
Is it hard to use and do I have to buy the industry module?
No it is easy to use and comes with instructional videos showing how to enter data through the easy-to-navigate screens. The module is optional but is made to make it quicker for you to get started.
When adding employees to each service can I mix and match adding individual employees with employee categories?
If you can identify the exact employees who work on the job or service, use the employee labor rate. If you cannot identify exactly who works on the job or service, use the category average labor rate. Mathematically it will come out the same by using one or the other. By mixing the two, it does not guarantee to achieve the profit you want.