Rodent
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 Original Post 2011-Nov-17, 11:22 AM
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I've had my account closed. Fair dinkum, only won about $400 in the last 3 months! Reason given....I only bet best tote on tier 3 meetings and it's hard for that to be viable for them. Newsflash, don't offer it then!  |
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Gintara
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2012-Jan-07, 08:01 PM
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Gin you obviously have never run your own business have you?? Toms prices (Best Tote) are probably working on about 8% profit so it is not hard for the "smart punter" to beat the odds if he picks the eyes out of it, Coles and Woollies work on as much as 3000% profit on a lot of their commodities and apart from staples like milk and bread the rest is worked on a very high percentage of profit so even when they are on "special" they are still very profitable , (with no risk of losing either) if you think they are fair to their customers think about their suppliers?? they screw them and tell them to take it or get shut out!! Gin I would have thought that anyone with at least an ounce of common sense would know that but I realise you do not fall into that category  As someone who sells stuff for a living Jim I reckon I have a fairly good handle on profitability of businesses  but thanks for your concern for my common sense  |
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Runway
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2012-Jan-07, 08:25 PM
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The truth is that Woolworths has the firepower to crush Coles on the price war front. Woolworths generates profit margins of more than 7 per cent, compared with Coles at 4.2 per cent.Read more: http://www.theage.com.au/business/coles-turnaround-wows-rival-20110420-1do9n.html#ixzz1ilaKZCBXThe above shows that supermarket margins are not very high - the article doesn't make it clear whether its gross or net margin - but I've never heard it reported that our supermarkets operate on very big margins, they operate on massive turnover at lowish margins. I too thought JWH's analogy was very apt
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Bubbasmith
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2012-Jan-07, 08:29 PM
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No wonder he lost, all real estate agents work well past midday each Saturday and he would not have had that much time in between auctions to follow the betting markets on Saturdays.  |
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DJH
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2012-Jan-07, 08:37 PM
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The truth is that Woolworths has the firepower to crush Coles on the price war front. Woolworths generates profit margins of more than 7 per cent, compared with Coles at 4.2 per cent.Read more: http://www.theage.com.au/business/coles-turnaround-wows-rival-20110420-1do9n.html#ixzz1ilaKZCBXThe above shows that supermarket margins are not very high - the article doesn't make it clear whether its gross or net margin - but I've never heard it reported that our supermarkets operate on very big margins, they operate on massive turnover at lowish margins. I too thought JWH's analogy was very apt As you know Runway, margins are far less relevant than actual profit |
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Jim Pike
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2012-Jan-07, 09:45 PM
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Again Gin you show you lack of intelligence when you equate being a salesman to running a retail business
I am not sticking up for Tom, just using a little common sense to try to explain it from his point of view
Runway there is a lot of difference from the net profit(which you have quoted) ie after TAX for Coles and Woollies and the profit on a Trolley full of groceries, there is probably a minimum of 100% profit margin so if they reduce the price by 10% they would still make 80% profit on the trolley of groceries, as I tried to explain to others Tom is working to a very small margin(and that is not net of expenses) he is offering a very good service but can't afford to offer it to people who abuse the offer, Supermarkets do not take the same risk as a Bookmaker but have much greater profit margins(before exes) why is that so hard to understand????????
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jfc
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2012-Jan-08, 07:35 AM
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Apparently Kanjo ran a number of entrepreneurial ventures earlier, now discontinued, and this real estate gig is quite recent career change.
If you've enough liquid assets to bet in those numbers, then surely you'd find yourself a better way of occupying your weekends.
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monologue
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2012-Jan-08, 09:42 AM
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Again Gin you show you lack of intelligence when you equate being a salesman to running a retail business
I am not sticking up for Tom, just using a little common sense to try to explain it from his point of view
Runway there is a lot of difference from the net profit(which you have quoted) ie after TAX for Coles and Woollies and the profit on a Trolley full of groceries, there is probably a minimum of 100% profit margin so if they reduce the price by 10% they would still make 80% profit on the trolley of groceries, as I tried to explain to others Tom is working to a very small margin(and that is not net of expenses) he is offering a very good service but can't afford to offer it to people who abuse the offer, Supermarkets do not take the same risk as a Bookmaker but have much greater profit margins(before exes) why is that so hard to understand????????
[/b] I think Jim it's because you have a superior brain to anyone else on this forum.
Please allow us some slack.  |
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Jim Pike
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2012-Jan-08, 10:12 AM
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You say that probably as a joke Mono but I know it's true kidding(of course) but using analogies can be useful, this one was just inaccurate and I tried to explain why |
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monologue
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2012-Jan-08, 10:28 AM
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You say that probably as a joke Mono but I know it's true kidding(of course) but using analogies can be useful, this one was just inaccurate and I tried to explain why No , No I was serious. |
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