What is left of the price once the cost of doing the work is taken out, given as a percentage of the price. That $150 job costing $100 leaves $50, which is a 33 per cent margin on a 50 per cent markup. Markup and margin are the pair most often confused, and the confusion runs one way only: it always makes the job look more profitable than it was.
In FieldQuo — Job costing
FieldQuo sets labour, materials and expenses against the price you quoted, so the margin you actually got is a number rather than a feeling.
Related terms
- MarkupWhat you add on top of your cost to reach your price, given as a percentage of the cost.
- Job costingPutting the real labour, materials and expenses of a finished job against what you charged for it, so you know what that job made.
- OverheadWhat the business costs to run whether or not you work today — insurance, the van payment, the phone, the accountant, the software, the storage unit.
- Break-evenThe point at which a day's work has brought in enough to cover what the day cost you, before a cent of profit.
More in pricing, cost and profit
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