Another month has flown by and I have no idea how we are at the end of August. (technically Sept as I write these for the previous month!).
So this month, I may have killed my figured even more because well....I ordered some items for myself and so I get a profit but not profit on my own money right. Yes I gave myself a discount on some of it as it seems silly to give myself a markup when everyone else gets a cut.
So I had quite a few sales this month, again all friends and family, I cannot stress how meaningful it is. So here are the stats.
8 sales - I made a profit on 2 of them, the rest were negative. Why? Well I have noticed that the site says it will cost a specific price for the item and shipping, so I add a small margin on top of that. Then for some reason none of those figures ever actually match up when things are actually charged. It has caused me some major annoyance and I have therefore changed some of my pricing because of that.
2 of those sales were mine and I really messed up the discount (again the different in what the website said it would charge versus what actually charges).
So gross sales were $741.19
Cost to Fulfil $907.89
Additional expenses $37.93
Canva/Shopify $81.59
Total loss for the month of August is - $286.22. This was pretty high because of my sales.
The total overall profit since I started in April is now -$488.50.
Some of the changes I have made, like altering the currency to AUD instead of USD will help with the additional expenses from bank fees and currency conversions and increasing the prices by a small amount will hopefully alleviate the constant losses.
The problem with Print on Demand in Australia is we simply do not have the suppliers therefore shipping is a massive issue as it always has to come from US/UK - except for my T-shirts which I use The Print Bar for and is an Australian company.
I am not sure this is a viable business as it is now. I want to start getting things printed locally and sending them out myself, but I am not sure my designs are good enough. I think they are personally, but I am not getting people to the site, let alone to see if they add anything to their cart and decide it is too expensive.
Anyway, we shall see off next month is better, be sure to follow along on facebook, instagram or even tiktok!
So my total