I have recently taken a new job (at a new organization) where I am building a new division of a company from scratch. My previous role(s) was as a clinician providing clinical services. My new position requires that, but also requires me to act as a quasi CFO, VP, & COO, etc. because this new branch of the company has an employee count of 3. With that comes the expectations to be accountable to a budget and a gross and net profit margin. Previous to this role I was only accountable to provide exceptional clinical service. But now I report directly to the president of the company. However, with that I feel as though either my inexperience is allowing myself to be taken advantage of, or the president of the company has unrealistic expectations of what this "new" division of the company can actually make (I am the only person at the company that has any idea what it is that I do). Because of this I feel as though what I am being expected to provide in terms of a net profit margin is going to substantially affect the quality of service the clinical practice will be able to provide.
So this brings me to ask you mustacians that may have experience in operating a business or acting as a manager, what have been your expected or required NET profit margins that you had to achieve? A quick google search tells me that the companies in the S&P had an average of around 11%, grocery stores average around 2%, and restaurants range from 2%-6%. All of these are WAY lower than what is being expected of me (while also not in my field, however).
If it makes any difference my anticipated gross revenue for the first year should be around 800k-1M.
Thanks for any insight that may allow me to put things in perspective when discussing my budget and spending with the president of the company.