What are the best profit margins to be made in a legal business?

Question

What are the best profit margins to be made in a legal business?

Answer 1

Jeweler

Answer 2

Depends on the type of business and how much you need to spend to make a profit.

Something like construction, which requires a lot of costs like materials, subcontactors, etc. will have a relatively low profit margin.

On the other hand, something like professional services  - lawyers, accountants, etc. - don't have a lot of overhead and make a relatively good profit margin.

Profit margin isn't the only way to value a business, however.  A contractor could gross 100,000 and net 15,000 in a month.  (Low profit margin)  An accountant could gross 15,000 in a month and net 12,000.  (High profit margin, but smaller income overall)

That was an arbitrary example, but it hopefully makes my point.  Profit margin is useful to compare businesses in the same industry, but not useful to compare businesses in separate industries.

Answer 3

Profit margins vary widely depending on what you are selling.  Factors impacting profit margin include competition, amount of effort required to make a sale, etc.