I love inventora!! I am new too it and still in my testing phase with my candles. So I am not selling at all but just adding all my supplies into inventora has been so nice to keep track. I love it. Game changer. I am so glad you have done videos on it. Thank you!
Erica, thanks for sharing with us. I have been following your videos for a while and I find the very instructional and pertinent. Hope you and Chris keep doing well with your business, and congratulations on your new location ... Joey
This makes me feel better. I have a candle that is a little bit bigger but I sell them for $30 and I thought that might be too expensive cause they don’t sell too well. But the cost to make is about what yours cost.
I don't know what she does but I don't include packing (packing for shipping) when calculating my retail price. I only include the packaging if is apart of the "materials." For example, I include the cost of the box that my 20 count tealights go into when calculating my selling price, but I don't include the shipping box for when I make an online order.
Great video, and I love being able to try it out first too. I understand all about creating a material list for a product and how to come up with your price, but how do you go about dealing with shipping materials? Is that part of your COGS or do you figure it in a different way. Just started selling and got an order from a friend in the south and realized I don’t have much of an understanding of that lol. Thanks!
Thanks for the insight! That was super interesting. Could you also show how much profit is left before tax if you sell candles on Faire and the buyer comes via Faire? The Faire fees are quite high. I only sell directly to small stores and sell my candles at half price. But if all the Faire fees were removed, I wouldn't earn much.
Hey Erica. I have been following your content and would love to discuss how to have a bigger sales channel. Do you have an email ID where we could discuss this?
@@stevechappellie904 don’t include any of your shipping materials into your COGS price. Only include what it costs to make your candle (basically anything that would sit on a retail shelf) This should help you see a more accurate COGS number!
Thank you Erica for sharing this info! 💖 Will give them a try soon! Btw, have you ever tried coco83 w some soy wax? On its own, coco 83 is almost impossible to wick and have it burn ideally. Too much flickering and sooting no matter the wick type or size. 😵💫 Currently using the HPSP and Premier wicks which are better than the cd’s or cdn’s. Think if I added 10 to 20% soy this would make the wax blend more stable when burning? I use 8% FO load and I keep the candles mostly dye free. I only have 3 different ones that I add a small amount of dye. So frustrating this wick testing it’s been 10 months now and want to launch my business in the next 3-4 weeks at the latest before I miss out on the best selling season.🤪😅🥹 Do you happen to do phone consultations at all? That is if you even have time for that as a new mom…!😅 Most of us would be happy to pay you for your time. You could maybe do just 10-15 min consults so it would take a huge chunk of time out of your already busy schedule. ☺️ Thanks so much! Kat
I buy my vessels from overseas with gold lids at .49 cents each - 12 oz frosted white with gold lids. And my embossed gold stamp labels made are .06 cents each
You may want to consider buying your vessels directly from a manufacturer overseas . YOURE buying them from a company that buys them overseas . My vessels are high end and my labels are high end. The vessel and label with shipping overseas is less than 1.50 each including gold lids
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✨JOIN INVENTORA: inventora.co/memoryboxcandleco
I love inventora!! I am new too it and still in my testing phase with my candles. So I am not selling at all but just adding all my supplies into inventora has been so nice to keep track. I love it. Game changer. I am so glad you have done videos on it. Thank you!
Erica, thanks for sharing with us. I have been following your videos for a while and I find the very instructional and pertinent. Hope you and Chris keep doing well with your business, and congratulations on your new location ... Joey
Thank you so much Joey!
Hi, Erica! Thank you for the in depth tutorial - is there a video where you calculate finalized pricing while including shipping and packaging?
This makes me feel better. I have a candle that is a little bit bigger but I sell them for $30 and I thought that might be too expensive cause they don’t sell too well. But the cost to make is about what yours cost.
Awesome video, Erika. It's been a long time since I checked in. How's the little one? Growing all the time, I presume! ❤😂❤
@@jillgross6232 hi Jill! He’s doing wonderful! Growing like crazy!! Already 23lbs 😄
Is there a reason why you don't include packaging etc. in your costs? Do you include these while calculating a selling price?
I don't know what she does but I don't include packing (packing for shipping) when calculating my retail price. I only include the packaging if is apart of the "materials." For example, I include the cost of the box that my 20 count tealights go into when calculating my selling price, but I don't include the shipping box for when I make an online order.
Great video, and I love being able to try it out first too. I understand all about creating a material list for a product and how to come up with your price, but how do you go about dealing with shipping materials? Is that part of your COGS or do you figure it in a different way. Just started selling and got an order from a friend in the south and realized I don’t have much of an understanding of that lol. Thanks!
Thanks for the insight! That was super interesting. Could you also show how much profit is left before tax if you sell candles on Faire and the buyer comes via Faire? The Faire fees are quite high. I only sell directly to small stores and sell my candles at half price. But if all the Faire fees were removed, I wouldn't earn much.
I'm not sure if you've already done a video on this but it would be nice to see all the apps you use such as inventora and the benefits of each
Check out the videos there is a video on apps that Erica uses that are very helpful to her & the business 😊
What is mark up%
Hi, my name is Dana. Can I join Inventora without having a business name? Thank you for your time.
I wish inventora would sync with GoDaddy! 😭
I want to use it so badly
We like your website but the new pop up is hard to deal with.
When you exit out of it does it keep popping up?
Hey Erica. I have been following your content and would love to discuss how to have a bigger sales channel. Do you have an email ID where we could discuss this?
After purchasing and printing, my labels cost 25 cents each.
I'm screwed. My candles cost $18.29 to make. YIKES!
@@stevechappellie904 is that after purchasing every supply item in bulk?
@@MemoryBoxCandleCo Yes! I divided cost of wax, wick, vessel, fragrance, box, shipping box, labels and care card and shipping tape.
@@stevechappellie904 don’t include any of your shipping materials into your COGS price. Only include what it costs to make your candle (basically anything that would sit on a retail shelf) This should help you see a more accurate COGS number!
Thank you Erica for sharing this info! 💖 Will give them a try soon! Btw, have you ever tried coco83 w some soy wax? On its own, coco 83 is almost impossible to wick and have it burn ideally. Too much flickering and sooting no matter the wick type or size. 😵💫 Currently using the HPSP and Premier wicks which are better than the cd’s or cdn’s. Think if I added 10 to 20% soy this would make the wax blend more stable when burning? I use 8% FO load and I keep the candles mostly dye free. I only have 3 different ones that I add a small amount of dye. So frustrating this wick testing it’s been 10 months now and want to launch my business in the next 3-4 weeks at the latest before I miss out on the best selling season.🤪😅🥹
Do you happen to do phone consultations at all? That is if you even have time for that as a new mom…!😅 Most of us would be happy to pay you for your time. You could maybe do just 10-15 min consults so it would take a huge chunk of time out of your already busy schedule. ☺️
Thanks so much!
Kat
I buy my vessels from overseas with gold lids at .49 cents each - 12 oz frosted white with gold lids. And my embossed gold stamp labels made are .06 cents each
Where do you buy these from?
You may want to consider buying your vessels directly from a manufacturer overseas . YOURE buying them from a company that buys them overseas . My vessels are high end and my labels are high end. The vessel and label with shipping overseas is less than 1.50 each including gold lids