Online shop You run it so that it generates profits for you. We're not arguing about that 🙂 However, it's often the case that we insert products, set a price for them, but then don't really know how to efficiently control our margins, which can change with changes in the price of the products we buy or other costs of getting the goods to sell.
Plug-in Calculate Your PriceIt is one of those tools that makes it easy to control your margins and modify them wholesale, as well as to modify the costs you incur, which affects the final price. This way you are sure that you are making money on your sales. This is especially important if you trade in cheap products and your margin is small.
How Calculate Your Price works
The plugin adds new fields to products and their variants, so you can add information about the purchase price and other costs you incur. You can also enter target margins and calculate prices based on the cost of goods so you always get your profit right. And best of all, you get a group editor to help you easily make these changes across your shop.
When you add this information, the price calculation function also creates special reports that allow you to see how profitable each order and product in your shop is for you.
What Calculate Your Price can do
Firstly, it adds new fields (as I mentioned) to all products and their variants to allow you to store information about:
- Purchase cost
- Transport costs
- Other costs
The total cost we incur when purchasing products for the shop is calculated by adding up all the above amounts.
You can also enter your desired margin as a flat rate or percentage and use it to calculate the final price of your products to make sure you make your expected profits. There's also a tool for 'rounding' prices so they still look nice, even they are automatically calculated.
You can update costs and selling prices in bulk, which is very convenient when adding or changing costs/prices of multiple products in your shop at the same time. To manage the bulk edit, you use an easy-to-read table-based interface (like the one above), which is reminiscent of the Bulk Table Editor plugin, but no surprise since it's the same author 🙂
In addition to allowing you to add cost of goods information to all products in your shop, the plugin provides reports to view costs, profits and margins per order and product / variant. With these reports, you will quickly discover the most profitable products which will help you better plan your marketing efforts. You can also search report rows and/or export reports to a CSV file for further analysis using external tools such as spreadsheets.
To see exactly how the plugin works, be sure to check out the demo before you buy it, to make sure it's actually what you might need. Click on the button below:
Calculate Your Price configuration
Let's take a look at what working with this plugin is all about. After installation, it's a good idea to take a look at its settings first:
The plugin itself is not particularly complicated to configure, but we have a few options that I will quickly draw your attention to.
Go in turn to: WooCommerce > Settings > Calculate Your Price
In the general settings of the plugin, you mainly have the option to enter a custom label for other product costs, as well as the delivery cost. Don't confuse this with the delivery cost to your customer, this is the cost to deliver the product from the manufacturer or wholesaler to you, to your warehouse, this is your cost.
Disabling autofocus here can help to work faster with the plugin tables, which I'll get to in a moment. In fact, you don't have to click on a field to start editing it 🙂 I don't know if this will suit everyone, but feel free to test it out.
The Integrations tab, can help you to pair the plugin with an external calculation system. The last tab of settings, on the other hand, is report configuration.
Adding costs to a single product
When you add a single product or enter an edit, additional fields will appear in the WooCommerce tabs that allow you to manually enter the costs you incur to acquire the product for sale.
This works identically for variants. All you have to do is go into their edit and you can enter your costs.
I suspect that once you opt for this plugin, you will use these fields less often rather than another editing method like bulk editing.
Let's now take a look at the most important functionality of the Calculate Your Price plugin, namely the wholesale editing table. It's hard to imagine a large shop without this type of tool, which optimises our time in a powerful way.
Imagine you have a shop with thousands of products and you want to make changes on all of them. If you do not know Woo well, you will start doing this manually and it will take you a lot of time. If you know Woo from e.g. WooCommerce courseIf you have products with variants, you can use group editing to speed up the process, but it will not be so easy if you have products with variants.
Calculate Your Price in its table will show you both the products and their variants, and this means even less time at the computer for you 🙂 .
You can edit any field and the plugin will automatically calculate the cost taking into account the purchase price of the product, other costs including shipping.
It will also use your requested markup to calculate a new price for your products based on the costs incurred. For example, if the total cost of goods is £100 and your markup is 30%, the new price will be set at £130. The plugin will also multiply these values and the current stock of the product in your warehouse to get the total cost value, as well as the retail value and finally your profit. So you can see at a glance how much money is sitting on the shelves and how much money will appear when you sell the goods.
How to modify the values in a table
You can do this by clicking on the selected field and entering the new value. In the case of individual commodity changes, you do not need anything more, but if you want to make adjustments for a group, e.g. for a selected product category in the shop you want to modify the incurred costs, then you can do it as follows:
First find the products
You can use the category list or the text search by entering a product name or part of it or a code.
Use the first row of the table
The first row of the table is for wholesale value changes for all or selected products. Just enter a value and from the list select what you want to do with it, e.g. increase by X percent, fixed value etc..:
Finally, just save the changes and you can get on with something else 🙂
In general, the plug-in Calculate Your Price It makes it very easy to track product costs, control mark-ups and analyse potential profits.
The addition of the wholesale editor (table mentioned) makes this solution very useful especially for large-scale shops. You can easily do calculations on some or all of your products at the same time. Someone who does such things from their finger, one by one for each product and variants, will definitely appreciate the possibilities this plugin offers them.
In conclusion, if you are looking for an extension for your WooCommerce shop to help you better understand and control your margins, this is an option you should seriously consider.
The plugin is not available in the WP repository, you can buy it from the Woo shop:
However, before you decide to buy it, I suggest you test it well on the demo site I linked to earlier. This way you will find out if this solution works in your particular case and how it is able to help you run your shop and control your mark-ups. None of us wants to find out after some time that instead of making money we are adding to the business. That's not what it's all about 🙂 .
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