Understand the true cost of the products you sell and how inventory and production costs affect pricing and margins.
This event has ended.
Basic Financials for Business (BFFB) is a four-session program designed to help small business owners strengthen their financial knowledge and make more informed business decisions. Through a practical, step-by-step curriculum, participants learn how to calculate labor costs, manage inventory and cost of goods, organize operational expenses, and interpret Profit & Loss statements.
This session focuses on inventory and cost of goods, helping entrepreneurs understand the real cost behind the products they sell. Participants will explore how production costs, materials, and inventory management influence pricing strategies and profit margins.
The workshop will help business owners identify the direct costs associated with producing or acquiring products and understand how these costs impact financial performance. By gaining clarity around cost of goods, entrepreneurs can make more informed pricing decisions and better evaluate the sustainability of their business model.
Who Should Attend
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Product-based business owners
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Retail and manufacturing entrepreneurs
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Small business operators managing inventory
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Participants enrolled in the Basic Financials for Business cohort
About the Organization
The Greater Englewood Chamber of Commerce supports entrepreneurs and small businesses in Chicago’s Englewood community through training, business advising, and strategic partnerships. The organization works to strengthen local businesses, expand economic opportunities, and foster sustainable growth across the neighborhood by connecting business owners with the resources, knowledge, and networks they need to succeed.
