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Old 02-19-2007, 03:27 PM   #1 (permalink)
 
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Default Simple Pen Pricing Model

If you have Excel, dial in here and use your own numbers to play with the model: http://yoyospin.com/pricing_model_pens.xls

Note that page one of this file has a similar model for bottle stopper pricing.

And, if you don't have Excel, here are the same files in pdf:
http://yoyospin.com/pricing_model_pens.pdf
http://yoyospin.com/pricing_model_stoppers.pdf
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Old 02-19-2007, 03:49 PM   #2 (permalink)
 
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Thanks, Ed. I have been trying to figure out pricing - pretty much guesswork and local conditions up to now. I wish I could turn 5 pens/hour.

Chris
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Old 02-19-2007, 03:58 PM   #3 (permalink)
 
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Ed, thanks, that is very helpful. Also, I bought your closed end pen DVD from AS and it came the other day. Lots of information, I learned a lot. Great value for the price.
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Old 02-19-2007, 05:03 PM   #4 (permalink)
 
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Thanks Ed.... that's excellent... get it?... excel lent? ... geez, I crack myself up [:D]

All kidding aside, that spreadsheet is great... thanks again [:)]
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Old 02-19-2007, 06:28 PM   #5 (permalink)
 
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Thanks for sharing, Ed.

Marc...you'd better be careful with that sense of humour...it's getting close to being as sharp as a skew!! [:D]
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Old 02-19-2007, 07:24 PM   #6 (permalink)
 
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Ed,
this is great!! I tried it for a number of my pen types I make and sell a lot (Barons, FT's and Slimline) and I was amazed how close the different pricing calculations came to mine. I worked very well for standard wood pens, but then I used it for my Titanium pens and here the difference between the program and what I can get for them was quite large. The problem was that Titanium prices went up like hell and it is very labor intensive.
But nevertheless, I like this approach and keep a copy on my computer.
Thanks!
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Old 02-19-2007, 08:08 PM   #7 (permalink)
 
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Nice job, Ed. That is a very intelligent pricing model. I am due to update my prices and will use this with a great deal of weight in the final decision. Thanks for sharing it!
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Old 02-19-2007, 09:22 PM   #8 (permalink)
 
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Thanks for the spreadsheet. One thing though, you show $30 per hour for your labor, unless you are paying someone else, or are incorporated, this is profit also and is taxable. If you are a self proprietor, your labor expense it taxable.
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Old 02-19-2007, 09:40 PM   #9 (permalink)
 
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There are lots of ways to slice and dice the tax code, and that’s not really what this model is trying to address.

Everyone should feel free to change the model to accommodate their particular situation. If you’re just a hobbyist for example, with no business entity, then the direct labor rate and profit figures could be merged into one item.

For me, the model is set up so that there are two taxable entities...Davidson LatheCraft LLC pays tax on the 8% profit and I would have personal taxable income based on the $30 per hour rate that the LLC pays me.
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Old 02-19-2007, 10:17 PM   #10 (permalink)
 
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very nice spread sheet will come in handy
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