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Set prices, cost and profit margin

Enter what customers pay and what it costs you, and see your margin as you type

You set a price when you create a product, and you can add your cost of goods so the Shop shows your margin.

Before you start

  • You need the Shop Manager role.
  • Open Products and either create a product or open one to edit.

Price a standard product

  1. In the Pricing section, enter the Price (required). Type dollars and cents, for example 24.50. Only numbers and a decimal point are accepted, so a price can't be negative.
  2. Optionally enter your Cost of goods. This is your cost from the supplier. It is only visible to staff.
  3. Check This price includes tax. It is ticked by default. See Set up tax on products.
  4. Read the Margin bar. It shows your profit as a percentage and in dollars per item. For example, a $24.50 price with $14.70 cost of goods shows 40.0% · $9.80 per unit.

How margin is worked out

Margin is the price minus your cost of goods, shown as a percentage of the price and as a dollar amount per item.

  • If you haven't entered a cost, the margin treats it as $0.
  • If cost is higher than price, the margin is negative and shows a minus sign.
  • If the price is $0, the percentage shows N/A and only the dollar amount is shown.

Price a product with variants

  1. In the Variants section, set the Default price and Default cost of goods. Every variant follows these.
  2. To give one variant a different price, select Edit on its row and change Price. That variant is now Overridden.
  3. To change several at once, tick them and use Edit prices. See Manage product variants.

The Edit variant window shows the margin for that variant using its own price and cost, or the defaults if you haven't set them.

Price a bundle

Enter the Bundle fixed price in step 3 of Bundle contents. Bundles show Total item price and Customer saves at least rather than a margin. See Create a product bundle.

Good to know

  • A price of $0 is allowed for standard products, variants and bundles, so you can sell a free item.
  • For a product with variants, a variant with no price blocks publishing. A $0 variant can only be published when the Default price is also $0. The window reminds you: "A $0 variant can only be published when the default price is also $0."
  • Cost of goods is never shown to customers.
  • Customers see the price you enter. See tax for what the tax checkbox does behind the scenes.
  • To change prices on many products at once, see Manage your product list.
  • Price changes on a published product apply as soon as you select Save changes.

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