Earnings over and above all expenses. Difficult to predict. Sometimes purchased at last minute. Net profit vs. gross profit Want to produce a fair net profit. Need to keep fixed overhead low.
Gross profit is what is taken in before fixed overhead is taken into account.
Negotiate for a better price. Establish professional friendships, mutual respect. Extend credit to the organization and invoiced later. Negotiations Negotiate from a power of strength. Know as much about the vendor as possible.