n Honest Review from Marcus Lemonis
Posted by CENTURY HEARING
Audicus, an Honest Review from Marcus Lemonis, "The Profit" Youtube Interview
Mr. Patrick Freuler, President, CEO
$2 million in sales
Cost of Goods is $300 I suspect its closer to $350 Because these are the Siemens Open Fits and RICs,
Add - $25 for tubes tips, batteries, shipping labor to program
So Total COG $375
Cost of acquisition (cost to acquire a customer)- $200
Cost to sell hearing aids (COG + COS) $575
Hearing Aid Prices
Dia $599 - $575 = $24 Profit
Canto $699 - $575 = $124 Profit
Subtract all other expenses, sales tax expense, subcontractors, health insurance, auto expense, bank service charges, credit card fees, dues and memberships, meals & entertainment, office supplies, professional fees, shipping, telephone expense, Rent/Lease (what is rent for sq/ft for 6 E. 32nd St, 6th Floor New York City) , Salaries. G&A is usually 15% to 20% of sales - minus the cost of acquisition which we already accounted for.
I suspect they are loosing money.
Marcus is right, to private label - on how to move from $2MM to $200million, leverage other peoples lists.