Net Profit: What Is It and How Do I Make It?

    May 21, 2019
    5:00 PM - 9:00 PM
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    Black Point Inn
    510 Black Point Rd
    Scarborough, ME 04074
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    What Is Net Profit and How Do I Make It?

    Understand how to make your passion into profit. Every business needs to make a profit to be successful and the construction industry is no different. In this session, you will identify revenue sources to include design fee and product mark-up percentages. Learn how to categorize expenses and how to track them for proper accounting and tax records. Learn the formulas to for mark-up and margin and identify the difference between the two. An emphasis will be placed on how mistakes affect the bottom line and how to avoid them. The attendee will leave with an understanding of the “business” side of the design team.

    Learning Objectives:

    • Define the basic accounting formula
    • Define the area of revenue and expenses
    • Identify revenue sources to include design time and product sales
    • Describe the difference between Cost of Goods Sold and Administrative expenses
    • Define the difference between mark-up and margin
    • Learn how mistakes affect the bottom line.

    The Maine Chapter is thrilled to welcome well known NKBA officer from the Hawaii chapter, and National Speaker, Roseann Freitas, to our state and the May Chapter meeting. 

    Vice-President/Business Manager of Archipelago Hawaii, Roseann has been working in the operations/business side of the design industry since 2005. Roseann has a Bachelor of Science degree in Business Administration with a concentration in accounting from Mount Olive College in North Carolina.

    Roseann oversees the business/operations side of Archipelago Hawaii. Her responsibilities include accounting functions, HR duties, and project purchasing coordination. In addition to the financial side, Roseann has a strong marketing background. She coordinates the client/media packets, press releases, advertising, client events, social media, and media requests.

    Thank you to our May event sponsor - The Lighting Center, a division of Rockingham Electrical, 334 Forest Ave Portland ME