Money and pricing

For small business owners who want to know if they are really making money. Learn your true cost per item, how to price for profit, how to price against the market, what to do when costs rise, cash flow, keeping money apart and simple bookkeeping.

7 lessonsAbout 37 minutesEnglish and PidginFree

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Who it’s for

Sellers who are busy but not sure they are making a profit.

What you’ll learn

How to find your real cost per item
How to set a price that leaves profit, and margin vs markup
How to compete without a price war
How cash flow works and why busy shops run out of money
How to keep simple books in ten minutes a week

Lessons

1Know your real cost per itemMany sellers think their cost is what they paid the supplier. Your real cost also includes transport, packing, payment fees and the delivery you don’t…5 min · with a task 2Setting a price that leaves profitPrice too low and you work for nothing. Price too high and nobody buys. Use your real costs and a margin to find the right price.6 min · with a task 3Price against the market without a price warSomeone will always sell cheaper. If you only compete on price, you work harder for less. You can charge a fair price when buyers can see why you are…5 min · with a task 4When your costs go up, check your pricesSupplier prices, fuel and delivery costs change often. If your price stays the same, your profit quietly shrinks. Here is how to spot it and adjust wi…6 min · with a task 5Cash flow: why a busy shop can still run out of moneyProfit is what you make on paper. Cash flow is the money you actually have today. A shop can sell a lot and still have no money to restock, because ca…6 min · with a task 6Keep business money and personal money apartWhen shop money and house money share one account, you can’t tell if you are making profit. A separate account and a simple pay-yourself rule fix that…4 min · with a task 7Simple bookkeeping on your phoneBookkeeping is just writing down money in and money out. Ten minutes a week on your phone tells you what you really made.5 min · with a task

Do this in Shopinbos Business

Shopinbos Business shows the margin on each product, records every sale (including ones you record by hand) and pays your money out to your bank through Paystack.

Start free with Shopinbos Business →How-to guides in the Help centre