Profit Planning

Profit planning is the process of setting financial goals and outlining strategies to achieve them, focusing on increasing revenue and controlling costs. It involves analyzing past performance, projecting future sales, estimating expenses, and determining necessary actions to ensure the business remains profitable. Think of it as a roadmap for financial success—helping a business identify how much money it aims to make and plan how to reach that goal effectively. This proactive approach helps predict challenges, allocate resources wisely, and support sustainable growth.