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Chance_Taker4

Finally going to start selling my creations. Need math help

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I'm breaking down cost per bait to see if I can even be competitive when it comes to selling my baits. I did some calculations I believe to be correct but would like to find someone who can tell me yes or no I'm in the ballpark. My calculations broke down as such:

$20 gal Plastisol (.04 per bait)

$8 4oz of scent (.02)

$3.45 2oz Glitter (.002)

$5.49 4oz Coloring (.001)

$15 100ct laminate bags (.15 per pack)

 

Based of my average of 400 baits per gallon and avg of 10 baits per pack I calculated $.95 per pack. Does this seem right or did my math no add up?

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$ 20.00 a gallon for plastic ?  ( from 5 gallon pail ? ) 

 glitter and color @ .001  and .002   ?

 is shipping included for all items ? 

10% ex. tax  and state sales tax.

just need labor , electricity and paying for all molds and equipment .

 

Edited by Bass-Boys
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On 10/26/2018 at 2:48 PM, Chance_Taker4 said:

I'm breaking down cost per bait to see if I can even be competitive when it comes to selling my baits. I did some calculations I believe to be correct but would like to find someone who can tell me yes or no I'm in the ballpark. My calculations broke down as such:

$20 gal Plastisol (.04 per bait)

$8 4oz of scent (.02)

$3.45 2oz Glitter (.002)

$5.49 4oz Coloring (.001)

$15 100ct laminate bags (.15 per pack)

 

Based of my average of 400 baits per gallon and avg of 10 baits per pack I calculated $.95 per pack. Does this seem right or did my math no add up?

 

who knows if that’s right since we don’t know what Lure you are selling .. however I would say that you need 75% margins (at worst) over retail pricing when calculating just material and packaging costs of a product. Because after material costs you need to deduct labor , tooling , locations , and yes excise .. THEN you create your wholesale pricing levels .. After all that is your profit margin ..hence why you need to have a 75% or higher margin when starting with just material costs .. 

 

make sense ? 

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