Jim Johnson asks if your net profit margin has dropped since the pandemic boom ended. Revenue is flat or falling while the cost of goods sold keeps climbing, squeezing the margins that once paid for new trucks and vacations.
How many of you had less net profit as a percentage of your revenue last year than the year before? Like, hey, 2020, 2019, even before that, kind of revenues rising, opportunities great. COVID came in, everybody wanted stuff done on their house all of a sudden. All these projects I had on my list, I can now get 'em off. Those lists still exist, folks. We just haven't made 'em enough of a priority for people. And so those revenues have started to flatline and maybe even decline. And we have another thing that's happening at the exact same time, and they kind of went in tandem with each other for the longest time, right? This is your COGS. Can anybody tell me what COGS are? Good, we have some solid leaders in here. So our cost of goods was rising with rising with our revenue. And we were making fat profits, right? Profits were great. We were loving life, buying new trucks, doing all kinds of cool fun stuff, vacations. Those costs kept rising and you started to get to a critical mass. How many of you had less net profit as a percentage of your revenue last year than the year before?
