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YITH COST OF GOODS FOR WOOCOMMERCE

Easily and quickly check the real profit margin on the sale of your products.

Subtract the costs from your income and you get the profit, your actual profit. This is one of those laws we learn in school that we all take for granted. Then we actually forget about it when we decide to start a business. And we often start looking for a reason why our company is going bankrupt when it is already too late. You wonder how your revenue margins can be so low while sales were fine. You wonder why, despite fifty orders a day, your business is dying little by little every day, until the company accounts have inevitably gone into the red. The reason is almost always there: hidden between the folds of those unexplained costs that you somehow missed, that you didn't take into account. Many businesses fail because their owners did not actually plan an in-depth analysis of the relationship between costs and revenues. It is the story of Jonathan, who bought clothes abroad to resell them through his e-commerce. The sales price was higher than the purchase price and that was enough to believe that he had a reasonable profit margin. But Jonathan, in his enthusiasm and inexperience, forgot something. He had underestimated his shipping costs, forgotten about customs fees and the cost of labeling individual garments. His company, which also had every potential to succeed, only lasted about three months. The best-selling product of his e-commerce, a t-shirt that customers could choose to customize, was itself the cause of the total bankruptcy of his company: it may have a high turnover, but the costs of customization – which also were underestimated From the beginning – they completely canceled the profit margin. Jonathan's story is the story of all the entrepreneurs for whom we created our YITH Cost of Goods for WooCommerce plugin. A simple and powerful monitoring tool that allows you to constantly monitor your e-commerce trend and analyze the relationship between product costs and your net income. For example, through our panel you can include shipping costs, taxes, VAT costs, payment gateways and a 360 degree overview of your total costs: this will help you find out which of your products have a higher profit margin (which are not necessarily the ones that make the most sell!), what kind of profit you make in case of promotions or discounts and what sales prices cover all costs, especially those that often go unnoticed and that can actually make the difference in your business success .