Cost & Profit Calculator
Designed and shared by FHA member Claire and her husband Nick Reynolds.
They have created a failsafe method of calculating your overheads for each client. The guesswork is removed and it means you can work out your charges/price list exactly.
This Cost and Profit Calculator is designed to help you to work out the expense of each service by calculating the exact cost of products you will be using, the cost of your time and fuel used where applicable. It will then show you your profit for each service.
The Info to Complete spreadsheet has a list of products which can be changed or added to. The Profitability spreadsheet allows you to input the name of your client and save a copy for each individual.
This is a great working tool. By using this calculator and inputting your own information, you will see immediately if you are making a profit or losing money!
How to Use the Cost & Profit Calculator
The Cost and Profit Calculator is set out in an Excel spreadsheet and there are two tabs labelled Profitability and Info to Complete. The yellow cells are where you input or replace your own information if it differs from the examples shown. The calculator does the rest for you.
Info to Complete
This is where you enter the expenses of your business in the yellow cells, i.e. stock and equipment, costs to your business, hours you work per week, and your hourly rate.
You can edit/change the pre entered products to suit the ones you use. The cells are locked so you can’t accidentally edit the formula.
This is where you enter your information in the yellow cells for the clients name, products to use, the amount of product you will use, the time you will take and mileage if applicable. The cost and profit calculator will automatically work out the service costs to you and show you your profit.
When working you can open the spreadsheet and immediately ‘save as’ with your clients name so the original is always there to work from a fresh sheet.