Gross profit margin is a key metric used to measure the financial performance of a business. It is calculated as the difference between total revenue and total cost of goods sold (COGS), expressed as a percentage of total revenue. A higher margin indicates more efficient use of resources and higher profitability. Knowing your gross profit margin can help you make informed decisions about pricing, costs, and other aspects of your business operations. With careful management and an eye for detail, a strong gross profit margin can set your business on course for success!