How do I work out mark-up and profit margin for a village shop?

Answered 9 Nov 2008 by d.head
I'm somewhat confused by 'mark up' as opposed to profit margin. In a village shop stocking 800+ lines (priced by various suppliers) how do we calculate average percentage to apply for reductions to ensure cost price and operating costs are covered?

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David Head MBA is an experienced manager with knowledge of both the commercial and voluntary sectors. Over 20 years managing teams of various sizes has given him plenty of practical experience to back up his study of employment law and management theory.