Let’s face it… figuring out how to price your products accurately is a pain in the neck! In the 13 years since shopVOX started, we have heard more questions about product pricing than anything else!
I just want an easy cost/price field; why must this be so complicated?
I’m so confused. How can I price by unit?
How can I set up my own pricing grid?
Can I price by sqft?
What’s the difference between boolean and numeric attributes?
How can I add labor costs to my product pricing?
What is a product template?
Where can I find my materials, and how can I add a markup?
My products have unit and sqft pricing - how can I build that in shopVOX?
How can I calculate wastage?
Can I add a quantity break in my product pricing?
The list goes on and on and on. So, I’m here to tell you that we have cracked this pricing problem and found a cure for your product pricing neck pain!
Before we dive into our miracle cure, we recommend starting with a few steps that will help your shop organize and develop consistent product pricing.
The first step is clearly understanding what price you want your end customer to pay you for your products and services. Ask yourself these questions:
Do you know how you get to that end price? Write it down on a piece of paper, or add the elements of your pricing to a spreadsheet so that you can deconstruct how the total price is calculated.
Does your final price include costs for materials, labor, and overhead?
What kind of markup will you add to your cost to ensure you make a profit?
If you need help finding a price for your products and services, here is a great video to help you consider what goes into pricing and how to mark up your pricing to ensure you make a profit.
Next, download the Golden Product Database into your shopVOX PRO account.
What is the Golden Product Database?
Our industry experts have developed a list of common products you can easily customize without adjusting back-end formulas. These products come pre-built to fit industry standards. Add your materials, labor, and markups, and you’re ready to go! Configure the pricing to suit your needs, and use it right out of the box!
See the Golden Products in Action!
Golden Products in shopVOX allow you to add your own costs and markups to your materials and labor rates within the product template, and all of the formulas are pre-built, so you don't have to add anything else. It is a fast and easy way to hit the ground running with your new shopVOX account and not spend hours figuring out how to price your products!
Simply select a Golden Product from the available list, and add your own materials, labor, and custom fields. Adjust your markup, and that's it! Easy peasy!
Learn more about Golden Products and how they work with this step-by-step guide.
Need to Access the Pricing Template Formulas to Make the Pricing More Specific to Your Shop?
If you are a shopVOX PRO user, this will be no problem! While you cannot access the back-end pricing template and formulas inside the Golden Product, all you have to do is make a copy of your Golden Product, rename it, and voilà! You now have access to the back-end pricing template, and you can change formulas, add dropdowns and modifiers, and customize this product even further to your liking. To learn more about configuring the pricing templates and adding your own formulas, check out our documentation!