Figure out your MySportsStore Profit!

2012-01-27T15:14:25+00:00 January 27th, 2012|Fundraising, SportsSignup Updates|

At some point, every organization wants to know how much money has been raised using MySportsStore.  Although there are reports in the system that address different aspects of MySportsStore sales and fees, there isn’t one that pulls all of the pieces together to show a profit figure.  We can get you pretty close, though…with the Pricing & Profit calculator.

SportsSignup originally built the Pricing & Profit Calculator to help organizations opening MySportsStores determine what to charge for merchandise.  Since the Pricing & Profit Calculator handles the wholesale and retail prices of merchandise, SportsSignup’s transaction fees and estimated credit card processing fees the calculator can also help you determine how much money your organization has made with MySportsStore over time.

  1. Open this Pricing & Profit Calculator populated with sample data (example shown below).
  2. Choose the worksheet within the calculator that matches your credit card processor; easyMerchant, Practice Pay or 3rd Party.  Each will calculate the processing fees at a different rate, so it is important to choose correctly.
  3. Update the calculator’s four editable fields (Steps 1-4) using your own information.  (Follow the detailed steps below to find the information for your organization.)
  4. Save it for future updates and reference.

      SSU Profit Calculator

 

Here’s how to populate your own Pricing & Profit calculator:

Steps 1 & 2 – Find the Item Description and Wholesale Cost information for the calculator by going to the homepage of your SportsSignup admin page.  Scroll down to the Merchandise sales summary and click Edit for each item in turn.

MSS group

Step 3 – Retail Price 

  • For items that have never been discounted, use the Price on the Merchandise Edit page (shown in above example) for the calculator’s Retail Price field.
  • For items that have been discounted (or if you are unsure), you can determine an average Retail Price using the Merchandise Purchased Summary Report.  From the homepage of your SportsSignup admin system hover over Reports, select Merchandise Purchased Summary, enter the Date Range of interest and Go (do not check the box to show bulk orders)
  • The report breaks down the sales by type/size, but you will need to add the Revenue and Quantity amounts of all like products together to come up with totals.  Divide the total Revenue figure by the total Quantity figure to determine an average amount for the calculator’s Retail Price.   In the hoody example shown below,  $365 ÷ 18 = $20.28 average retail price.  Tip: Export this report to Excel and let the spreadsheet do the math for you!

SSU MPS

 

Step 4 – Estimated Annual Sales

  • Populate this field with the Actual Sales using the the Merchandise sales summary figures from the homepage of your SportsSignup admin system.

SSU Manage 

Step 5 – Results

  • The Calculator will display an Approximate Total Profit and an Approximate Net Profit %.

 

Things to know about the Pricing & Profit Calculator:

  • Sales made from Bulk Order Merchandise cannot be tracked in the SportsSignup system.  If you have done any bulk orders, don’t forget to manually add those profits to the approximate total profit displayed by the calculator.
  • The credit card processing fee used for calculation is an estimated amount.  Credit Card processing fees vary based on the organization’s merchant account provider, so the amount displayed will be a reasonable approximation rather than an exact amount.
  • Returned items are not reflected in the Quantity or Revenue figures on the Merchandise Purchased Summary.  If you have returned any merchandise, subtract those amounts manually from the totals.