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Those margins suck. You haven't factored in time which is the most expensive commodity.
To you they suck but that is because you live in the Shopify scene mentality of products that might sell well for awhile and then quickly crash and burn requiring you to always be trying to replace what you had before with hit or miss success.
I'm in a business that hasn't changed since the 90s, which will gross 7-8m next year at 30-35% margins for the next 10-20 years, without any type of product changes on my part.
I only need a 3% net margin to keep pace with your 500k @ 40%.
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