In my "real" business, I shoot for 8-13% all in after payroll, other controllable and non-controllable...my proforma is for 20%, have gotten there with a few stores but never with them all at once. Product Margin is running about 22%, with labor about 52% per transaction (before expenses but after cost of goods sold).
With the farm...what's "profit"? Ran one in year 3 as a result of an outstanding sponsorship deal for our riders that was also picked up this year- otherwise it's break even at best, because we generally turn any profits into additional fixed assets. If I ould convince the wife to sell some livestock rather than to buy it, we'd be in high cotton. As it stands, we are accumulating assets rather than $$$.
As far as the breeding operation- Memory Lane Farm's rider breeding program has been far more productive than it's Appaloosa program :) but don't call the wife a broodmare!
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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