Paying Yourself

[Guest]

How do you pay yourself...

do you take a percentage..
do you not pay yourself at all?

Just a curious question

 

[Tabitha]

I just reach into my cash register when I need a few bucks. Bad huh?

 

[Tabitha]

OK, here is a better repsonse, with my online sales, most every payment goes into paypal. Every 2 weeks (or so)I see how much $ I have in paypal, I reinvest 1/2 by buying supplies and spend 1/2 on anything else, Christmas gifts, school clothes for the kids, etc.

 

[Guest]

LMAO TAB, I cracked up on your first answer.. but I like the second one better..

 

[Tabitha]

I used to make me really crazy that an old boss of mine would reach into the register, pull out $20.00 bucks & ask me to order a pizza, or would pull out $5.00 to tip a delivery guy, etc, but now I totally do that.

There is no way I am structured enought to make daily deposits & write checks for everything. Cash is so much easier to deal with.

I do have a receipt book & EVERY sale gets recorded no matter how small and I have a receipt box, every $ I pay out no matter WHAT it is for goes init. I sort them by category at tax time so I know every penny that comes in & every penny that goes out. The difference betweeen A&B should = what I put in my pocket.

 

[dragonfly princess]

I haven't made any kind of profit yet so I still use whatever I do make to buy supplies. But I loved the first answer too tab!!!


:twisted:

 

[webstorewebsites]

Does paying bills with the money count?? lol

 

[Soapmaker Man]

So far, the past 3 months I've had my etsy store, I've been really surprised. :shock: I have bought a lot of new shop tools and equipment with the proceeds. I want to only make about 25% profit from all sales. The rest goes into buying more materials and updating tools and adding to the TOG Mold Shop. Oh, it helps me buy more soap supplies since I don't sell a lot yet. Phyllis is getting her etsy store, The Bath Emporium stocked better. We are changing soap names from The 'Ole Goat to The Bath Emporium. You will see that on all new soaps and lotions1 Reminder to get Shannan off VIA Flat Rate my swap stuff tomorrow!!!! You big dummy, Paul.... :roll:

See, too darn busy! Who wants to come to SW MO and help me in exchange for a new TOG Mold?
:?:
Paul.... :wink:

 

[Guest]

Hell someone need to come out here and help me! LMAO!

I was just wondering because I was trying not to use any of the money for personal things.. but the economy right now SUCKS!

I need it for bills... :roll:

 

[Soapmaker Man]

Hell someone need to come out here and help me! LMAO!

I was just wondering because I was trying not to use any of the money for personal things.. but the economy right now SUCKS!

I need it for bills... :roll:

We'll switch locations Shannan. You come build my TOG stuff, I'll come out to California to see your beautiful soaps and marvel1 If you are having a hard time with those beauties, I'm in trouble! Better stick to my TOG stuff! :shock:

Paul.... :wink:

 

[Guest]

California is just too **** expensive! 4.15 a gallon on gas.. who the hell do they think I am :shock: Oprah? SHOOT!

Im a soapin mama!

 

[pink-north]

I hear you Shannon. In Canada we're paying $1.04/ litre which works out to be about the same you're paying. It's to the point that I can't go anywhere to get supplies. I know our dollar is up right now, but that isn't helping me any. I still have to pay big $ for everything.

 

[chksdtr]

Uhmmm,,,, we have invested way more into the company over the last year than we have gotten. We still just reinvest what we do get, work on new product, perfect current recipes, buy new "shop" toys. One day we will make more than we spend and it will all be good. Then we can begin paying ourselves back the enormous amount of monies we have sepnt!

 

[gallerygirl]

I have learned to account for everything, including paying the help (ME) I think we often short change ourselves when we start doing our pricing. Although I am speaking about my own experience in the pottery trade, I believe the same issues probably apply to the soaping trade. What is nice tho, in the soaping trade, there are programs out there designed to help a soaper factor in everything to get to the bottom line as to how much is spent to make each b&b product, thus knowing how much to mark up to make your profit. Just from my pottery trade, I have learned that we don't place a high value on our services, our production. We have to remember that we are making a product that most people don't make. So when you are selling - you are selling to a clientelle that are seeking out "the real deal". That's my 2 cents worth. I have always admired greatly those who made the soap I bought from. I have appreciated their research, work and product they have made. k