New Features

We Released a Couple of New Enhancement Requests on 7/17/2016

The first release really isn't new, but is available to everyone right now. That feature is the Bulk Email feature. I use it to send everyone my announcements.

Starting July 19th, you should be able to use our new Profit Margin Report. You can find it under the Applications menu, click on Profit Margin Evaluation to run it.

If you have last year's operational data handy, and the extra time to enter it before this season's rush, you can run our Profit Margin report to take the guess work out of your pricing. It relies heavily on your specific situation, using critical parameters you setup and the operational data you enter.

Specifically, it analyzes:

  • Completed Jobs
  • Time entered against completed jobs
  • Cost of Materials (direct costs, associated with jobs; forms, eyes, etc.)
  • Overhead Expenses (indirect costs; shop supplies, license fees, insurance, utilities, rent, etc.)
  • Markup Percentage (specified in the Studio Setup screen)
  • Shop Rate (specified in the Studio Setup screen)

The Profit Margin Report uses your sales and expense information to answer the following accounting questions:

  • How much profit or loss am I experiencing for each trophy category?

             The report calculates your gross profit on each trophy by subtracting your total costs from your list price.

Gross Profit = Selling Price - (Material Costs + Labor Costs + Overhead Costs)

  • What is my gross profit margin for each trophy category?

              The report calculates your gross profit margin by determining your gross profit (Step 1 above) and then divides                 this number by the list price for the trophy.

Gross Margin = (Gross Profit / List Price) x 100

  • How does my gross margin differ from my markup?

             The report compares your actual gross profit margin (Step 2 above) against your markup percentage you

             specified in the Studio Setup.

Actual Gross Margin vs. Markup Percentage

Gross Margin is the percentage difference between the selling price and the profit.

Markup is the percentage difference between the actual cost and the selling price.

             The markup percentage is always higher than the gross margin percentage. Many people mistakenly over

             estimate their profitability due to this fact.

  • What price should I be charging t reach my financial goals?

              The report calculates your list price for you based on your own specific situation. It suggests what you need to

               charge in order to stay profitable. There are no proven price lists that work for everybody's small business.

Price - (Material Costs + Direct Labor Costs + Overhead Costs) x Markup Percentage + Cost

Taxidermy Direct® YouTube Channel

If you would like to see a specific tutorial please let me know. If you have questions, most likely other people do to. I will continue to add videos as requested and as time allows.

Our entire video library can be found on our YouTube Channel

New Business Articles Published

"How do I Calculate my Price" was published to our business blog The Buck Stops Here®

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