HOW DO I PRICE MY PRODUCTS? | breaking down costs of goods using excel | soap business
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- Опубликовано: 28 май 2024
- Time Stamps:
0:00 - Intro
1:03 - Cost of Goods
2:04 - How to Calculate Cost of Goods
2:40 - What Needs to Be on the Main Label
3:02 - How to Keep Track of COGs
4:23 - How I Use Excel to Keep Track of COGs
5:12 - How to Create COGs Tracker Using Excel
5:17 - Creating Main Materials Sheet
9:53 - Creating Recipe Sheet
11:46 - How To Track COGs of Different Soap Varieties
13:43 - How to Get Cost Per Bar
14:08 - How I Price My Soap
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THANK YOU FOR ALL THE SUPPORT! 
Хобби
Thank you for the video! As an accountant, it was fun to watch this. One thing you might consider adding into your cost is “waste”. Factoring in even 5-10% in material waste is actually more accurate. There’s oils that get left in bottles, fragrances that spill. Also, the failed soaps that happen due to various reasons can be captured in this. I didn’t see it listed somewhere but it may be something to consider! Great content!
Great advice ;)
Great point!
💎
Yes and tax, insurance, packaging, bagging or shipping materials, market fees, website fees, reoccurring equipment costs, millage on the car etc. Advertisement if you pay for that kind of thing lol. Peace and Health
Good info, and for us the general rule is "You should probably price a little higher than you're comfortable pricing." Creative people tend to undervalue their own creations, but you should price your soap at what it's worth, not what you THINK it's worth. It took us a while to understand the difference between those two.
Never been excited about Exel until today. Thanks for the info.
Happy to help!
My thought exactly.
where do we put shipping costs
So I’m a bookkeeper and this is my everyday job haha and you explained it beautifully!
Yay! Thank you!
Girl, that's not the cost of each soap. What about your insurance, taxes, labeling, packaging/bagging, and reoccurring equipment fees, farmers market fees, gasoline etc? Saying that each soap costs a little more than $1 is encouraging the wrong crowd into soaping-- those who are in it for the short haul and to get rich quick and markets are saturated with them-- we know that getting rich quick is not your success story. It costs me $3 per small soap and I sell it for $5.25. What are your real total costs please? And is it my imagination or did you not include the costs of essential oils?? Peace and Health
@@b.l.a.c.k-shiva so right, but she does give a disclaimer at 1:39 saying what the video will actually cover.
@@heymelissa123 And hoards of short term, get rich kind of people will throw their lot into the saturated soap making market because they really think the costs of the ingredients are all the costs. That's not responsible to let ppl think those are the only ongoing costs. I'm seeing the bigger picture. Peace and Health
@@heymelissa123 *Not to say that she even included all of the ingredients!* She didn't
The addition of the word ‘artisan’ is a reminder .... especially in a video like this ....where you are having to work out ‘cost analysis’.... put on the ‘business-women hat’.... it is a nudge to Yourself and others of what the desires of your heart is to create a product and put it out there and let others judge your work.... such fun to watch the growth
If you add into your spreadsheet the time how long it takes to make a batch, clean it up, shrink wrap, label etc, (never mind purchasing and marketing),...you start to see how that x4 is probably on the slim side. This 'artisan' will start valueing herself much more. (especially the skill finally acquired through a lot of 'failed' and then perfected creations!)
The Apple spreadsheet equivalent to Excel is called "Numbers"
thank you!
Can't wait to update my excel COG spreadsheet with these multiple pages pointing to the single locations. Your right, setting things up properly, sooner than later will help not get overwhelmed. As always, YOU ROCK!
Fantastic!
Can't say thank you enough for sharing this video. It will be so helpful going forward.
You are so welcome!
I needed this so much !!
Wow thank you Jerika!
Thank you Jerika!
Thanks again Jerika for always being helpful and positive! I look forward to your positivity during these concerning times.
Oh wow your story is Absolutely amazing! I'm a one man show cause I'm small time rn but I've felt that "calling" turn into a passion. I'd I didn't have to work and was richer I'd Absolutely make soap ALL DAY. God Bless you and the Soaping business
Thank you Jerica, I'm learning so much!⚘
Great video! Thank you for being so informative!!! love it!
This was fabulous! Thank you so much!
Jerika, thank you so so so much for this video! I’ve been stuck trying to calculate my cost of goods! I’d love to see more behind the scenes business videos from you! Definitely an inspiration!!!
Definitely need more videos like this!!!
THIS WAS SUPER HELPFUL!
Thank you!!! I found this so informative 🙏🏼
Thank you so much for this. So informative!
This is amazing ❤️
Thank you so much for this, Jerika! Super helpful and informative! I'm loving all your videos and watching your channel grow :-)
VERY informative!! Thank you!
THIS VIDEO WAS EVERYTHING THANK YOU SO MUCH
This was so helpful. Thank you, Jerika for taking the time to do these videos. You are awesome.
It is so kind of you to share this information, Thank you!
This was a great video. Thanks for taking the time to talk everything out and demonstrate it.
Very helpful! Thanks for sharing ❣
Super helpful video !! Ty 😊
Thank you so much! You are MARVELOUS
This is great and a nice Excel refresher.
You are so helpful. Thank you
i love your videos. thank you so much for being so kind and generous spreading free knowledge.
Thank you so much for this, Jerika! You are so helpful and selfless!!!
Thank you for taking the time to share this necessary business essential Jerika.
Great video as always 😘
Hi Jerika,
I'm back with another thank you!
Amazing video. Very helpful to new soap makers!
Great info, thank you
You are doing amazing job here! I absolutely love what you do, a big help for us starting soap dream!
Super informational...love your Chanel🦄🌈
Fantastic tutorial.
Great info super helpful Thank-you
this was really helpful, thank you!
Thank you so much for sharing!! I am so glad I found you on RUclips!!
You are so welcome!
Thank you!! Your videos are invaluable
✨thank you so much for sharing!! That’s really useful 🙏🏼
Thank you, I needed this video
Fantastic video Jerika! Subscribed!Thank you 😊
Thank you!!! You just don't know how much I need this!
Thank you so much, Jerika!
Perfect! Thanks so much for this, I just love your videos, so helpful!
Glad you like them!
Amazing video 😊
Jerika, thank you for all the info
Wow, so informative! I'll definitely be updating my spreadsheets! Thanks
This video is gold! Thanks
You're welcome!
Such a good Video!!! I loved it, thank you!
Glad you enjoyed it!
Love this info! Thank you!!
Glad it was helpful!
Thank you so much for sharing. I have learned something new.
Thank you Jerika! You always provide such valuable information 🙏🏾❤️
Happy to help!
Thank you for this. Super helpful. 👌
Thank you ! You are the best ! Helped me alot !
Wow! Thank you so much for this detailed video. Thank you
Awesome video
Thanks so much
Fantastic tutorial.
Love your channel.
This was so so amazing! I literally used this as a tutorial to walk through it and help me build it. Thank you! :)
Thank you for this. I hate maths, I can do it but I hate it. I have just gone through the process of pricing my items and getting my son to double check everything. I hate having to recalculate my products based on different suppliers and different quantities, I also am ordering in larger quantities than when I began. I am only starting out, I am definitely going to use your method, thank you❤️
This video was super helpful, thank you so much for taking the time to break excel functionality down and provide clarity on a subject that can be rather overwhelming. 👍🏻
This is such a fantastic breakdown of how you keep track of your costs. Thank you for this information!
Jerika! Thank you so much for this awesome teaching video to help out greenies like myself. You are a fantastic teacher! These comments are so beneficial as well. May the small business gods bless you as you continue to grow and may you have great success. Happy soaping!
Thank you so much for this video.
This is great information for any beginner! Thank you for sharing your knowledge
This is a very important aspect to know. Thank you!
I appreciate you!! I have been struggling getting my soap out there and on a good road to success and I've been discouraged for years. My daughter wanted to expand her streams of income and joined me in this journey. I'm so excited and looking forward to learning more from you. You're awesome!
You have given me a gold mine of information!!!! 😊
Happy to help!
You are absolutely wonderful! Thank you for being such a wonderful "virtual mentor". This was just exactly what I needed to understand how to accomplish!
Hi , Jerika! Precios information!
Thank you🤩👍
Thank you for information congratulations on 15.000
Thank you so much 😀
Thank you for making this video, it was so helpful💕
You're so welcome!
WOW Thanks so much!
awesome thank you!!
Thank you for this excellent information.
Thank you so much for this! I have always struggled trying to calculate prices for my products. Now that I will be getting into soap making as a business your videos will help me tremendously! - Thank you, Christina
so very helpful - thank you for sharing your expertise - you ROCK!!!
Thank you this video was extremely helpful
Awesome 👌, thank you very much for this information 😊
This was soooo helpful... Thank you sooo much Jerika 😘😘
Great information for small business!
Excellent 🎉 you are a professional !
Thank you for the info and the excel tutorial, one of the best videos I've seen on pricing goods.
i love it, thank you very much. greetings from Chile.
Thank you so much for your videos on the business side of things. I really appreciative all the info you have taken the time to share with us.
This is so helpful. I have already watched it ten times.
Thank you 😊
Very informative.
My pleasure 😊
I’m really excited for this video I really sometimes have trouble trying to plan a price for my soaps and products and it sometimes can be really hard really excited😁😁😁
😍 gracias!! This is going to helped me a lot. I’m just staring to do soaps
Thank you so much for this!!! I'm LITERALLY just getting started and this part of it really overwhelms me! I've just printed out all of my invoices and am going to start creating my COG spreadsheet so that when I solidify my recipes, this part will already be done.
Thank you for the refresher course on excel. And I learned a lot at this point for a premeditated soaping business.
You absolutely deserve all of your subscribers plus many more. Again, thank you for all that you share 🤗
Wow, thank you!
Thank you so much for this info!! So appreciate it! I’m just starting making things and also teaching my kids. This has been so helpful!