so in total with all of my streams of
income
farmers markets and events e-commerce
platforms direct
sales wholesale customers and my other
category
i made hey everyone
welcome to another video today's video
is super exciting because
i'm gonna be talking about exactly what
my company made back in december
we finished crunching all of the numbers
recording all the revenue from our
different streams of income
and deducting our expenses from that and
i'm so excited to share with you guys
exactly how much we profited this month
in our business
if you're new here welcome to my channel
my name is jerica and i am the owner and
creator of quench
and on this channel i talk everything
about my business and how i run it how i
make my products and also some
behind-the-scenes information about
exactly how much my company makes if you
are starting a soap or bath bomb
business yourself
then this is definitely the type of
channel that you would want to be
subscribed to so
please do so we are almost at 6 000
which seems unreal to me
everyone who has helped me get to the
point to where i am now
thank you so much so for the month of
december we had about five streams of
income
in-person sales e-commerce direct sales
wholesale customers
and other and i will go into what other
is don't you worry i will talk all about
that
and give you the exact numbers of how
much we made through each stream of
income
and then on the flip side of that this
video will also go into the expenses
that we incurred throughout
the month of december if you want to go
straight to the numbers i went ahead and
put in some time stamps in the
description below so you can jump around
to the information that's most relevant
to you now without further ado
let's get into it so first we're going
to talk about what everyone is really
interested in and that is the income
like i mentioned before i have about
five streams of income and the first one
i'm going to talk about is my in-person
sales and in this i'm including farmers
markets
and the events and the consignment
situation that we have with a local
bakery in town
last christmas season last december we
had a lot of events
lined up a lot we did a lot of in-person
shows
and made okay money doing that obviously
with what's going on this year that
wasn't available
and so we only had one event that we did
and
actually it was really surprising to us
just how well we did at that one event
the organizer of that event actually
found us through the farmers market and
she liked our display
she liked our products and she reached
out to us on instagram and told us about
this event that she was having at her
pizzeria and because
it was an outdoor event on their patio
in the middle of downtown
the rules about vending were not as
strict because people are going to be
out in the open air and you could easily
social distance
on the large patio that they had i
talked briefly about that event in a
past vlog but there was no table fee
and it was our first time doing that
event with that organizer so we had
absolutely zero expectations
as to what it was going to be like safe
to say it absolutely
blew our expectations we were i should
say kale was
he was the one that actually did this
event while i stayed home but
he almost sold out at this event and
actually that has never
really happened to us before in all the
events that we've been doing in the
three years we've been making soap he
arrived at this event and it was only
a five-foot table situation which is
really small for the amount of products
that we have
and we didn't really bring that much
product as well because we were so busy
filling orders at that time for
wholesale customers for retail customers
so we didn't really have the best setup
we didn't have all of our products but
people
came to support the local businesses
because
it was absolutely crazy i think a part
of it had to do with the fact that there
weren't very many events
happening because of the illness and
also because of the location of this
event like i mentioned it was a pizzeria
an outdoor patio
on the main street of aurelia so it had
a ton of foot traffic
from what i heard there were beautiful
lights that they put up it was one of
those things where if you didn't even
know about the event and saw something
like that happening
you would probably walk over and check
it out so i think we had a lot of random
foot traffic in addition to
a lot of people that wanted to come out
to this event to support
local businesses so in this event we
made one thousand four hundred and fifty
dollars and ninety four
cents i'm gonna have to confirm with
kale on this but that could be our
record number of sales for any event
that we've done in one day
we're also down to one farmer's market
in the month of december we usually
attend about
four a week back in the summertime and
fall and this farmer's market that we
attended
turned into a christmas show and we had
about three saturdays of going to this
farmers market slash christmas show and
because this is indoors there were a lot
more restrictions that vendors had to
adhere to in order to be able to vent
there
each vendor had to have a barrier
between themselves and the customer
at their table and i showed you guys
what kale had made for
me and it was basically a plexiglas
shield on two posts
and we attended this christmas show last
christmas as well and there was
definitely a huge reduction in traffic
this year for obvious reasons but even
then we still made some pretty good
money doing this
so attending this farmers market
christmas show we made 1264.63
it's actually interesting how we made
more in one event
than we did on the three saturdays that
we were doing this farmers market so you
can see how
adding both streams of incomes local
events and
farmer's markets can really be helpful
in boosting your revenue and i decided
to include consignment in this category
as well even though we're not actually
present to sell the product
it's still kind of an in-person sale in
the sense that the customer is
looking at the product in person before
buying it this is a fairly new
arrangement for us so we weren't sure
exactly how it would go but we're making
okay money doing it so far
and what consignment is is is you put
your products in somebody's store
and and they take a cut of the sales so
through our consignment arrangement we
made 145 dollars
and 60 cents so in total for all of our
in-person sales we made
two thousand eight hundred and sixty-one
dollars and seventeen cents
our next stream of income that i'm going
to discuss is a huge one especially
during these times and that is
all of the income that we made through
our e-commerce platforms
we currently have three one of them is
etsy one of them is our main website
through shopify
and the third one is local line which is
the virtual
version of our local farmers market and
for our shopify we actually had a record
month we've never made this much through
our shopify before so that was really
exciting
and if you're in the position where you
are wanting to turn your soap hobby into
a soap business
i highly recommend getting a shopify
i've had mine for
almost the entire time that i've been
making soap as a business
and even though sales were super slow in
the beginning it was always nice to be
able to direct people to that website
it really helped new customers see that
i was a legitimate business
shopify has such beautiful templates too
so you don't really need to know about
codes or
be particularly internet savvy in order
to create a beautiful website i really
think having that shopify
helps my sales huge because people go
there and they really like my website so
on our shopify
we made 2463.66
if you want to check out what my shopify
looks like the link to that is down
below we also get our income from
etsy i've had my essay for about two and
a half years now i
i started it in 2018 and it slowly
slowly slowly grew
sales on my etsy have been really good
since the beginning of this whole
illness began even though the sales did
die down during the summer
as the christmas season approached the
sales continued to climb and climb and
climb and it really reached ahead
in december and i'm really excited to
say that just a few days ago my shop
finally passed
the thousand sales mark which is amazing
back in march when
i didn't have very many sales coming in
i was about 50 sales
so you can see how an etsy shop can
really blow up in a short period of time
on our etsy in the month of december we
made six thousand
two hundred and twenty three dollars and
thirty eight cents and the last
e-commerce platform that i wanna talk
about is
our local line and like i mentioned
before this is the virtual version of
our local farmers market so on local
line we made
one hundred and twenty three dollars and
nine cents so in total
on all three e-commerce platforms we
made eight thousand
eight hundred and ten dollars and
thirteen cents the next stream of income
is super important and that is our
direct customer sales and
because we do a lot of farmers markets
and because we like to participate in
local events
our local customer base has really grown
and in this christmas season a lot of
them reached out to us
directly for products which is awesome
they typically pay either e-transfer or
cash and these are people that we've
built relationships with over time
through our direct customer sales we
made 1160
the next stream of income is our
wholesale customers yes
they even put in orders in december i
mentioned before that
we got a big dump of wholesale customer
orders
back in late october and early november
which caused us a lot of stress because
we were trying to
fulfill those orders in addition to all
the retail orders we were getting in
and so in december they put in more
orders to replenish what they had
and we took those orders even though we
had to tell them we wouldn't be able to
deliver it to them until
2021 and in the month of december we
made
1 928 and 31 cents through our wholesale
customers
the last year of income is interesting
and i call it the other category
and this is income that my business made
not through
the sale of my products but through
other ways
mainly youtube i started this youtube
channel
back in 2014 way way way back a long
time ago
i really paid attention to it in
september
and it has now grown to almost 6 000
subscribers that is insanely cool but
what came
with that was also income that i'm able
to generate through adsense and i was
able to make
pretty significant income in the first
month of being monetized i mentioned the
dollar amount in a vlog and even showed
my analytics from the first two weeks
that i was monetized i was monetized in
november 15th
and what youtube adsense paid me out was
for those two weeks where i was
monetized
and this is the number that i'm gonna
tell you now i made 446.57
through youtube adsense alone in just
two weeks and actually got that money
from youtube
by the end of december so that was
really cool i also was able to make
other money through sponsorships and
affiliates and
partnerships and i won't go into what
exactly i made from those guys but it
was still a pretty significant amount of
money
and i will probably do a video down the
line about
specifically youtube and how i was able
to grow this channel as a soap maker
and i know that there are a lot of
people on youtube talking about how they
make their youtube channels and how they
made it successful
but i know when i was starting out i
didn't really find anyone specifically
talking about
making soap and bath bombs so this is a
void i definitely expect to fill
in 2021. so in total with youtube and
all of the other types of income that
i'm making not through
the direct sale of my products but
through other means that total is 754.60
so in total with all of my streams of
income farmers markets and events
e-commerce platforms direct sales
wholesale customers
and my other category i made fifteen
thousand
five hundred and fourteen dollars and 21
cents in december
and as we know it is not all sunshine
and rainbows every business has expenses
and this business is no different this
is the part of the video where i talk
about everything that i spent in the
month of december and as you guys all
know
so businesses are expensive to run the
first expense i want to talk about
is our banking expenses if you have
started a business yourself i highly
recommend getting a business account so
that you're able to separate all of your
business transactions
from your personal transactions and the
reason why i want to do this is so that
you're able to track
to the penny everything that your
business is making and everything that
you are spending through your business
it's also much easier come tax time
when you have all of that information in
one place and the transaction fees that
we had to pay this month
were 26 dollars and 25 cents now i'm
gonna talk about e-commerce fees
so to own a shopify website and to sell
on etsy
there are going to be fees every month
so for shopify we pay
a monthly subscription fee to actually
have that website
and that's around 33 but also shopify
takes a little bit of a cut from each
transaction that we make
i shouldn't say shopify actually it's
the payment processor that we've chosen
to use
they take a bit of a percentage through
every transaction and shopify adds that
to
the subscription fee every month so the
monthly subscription for shopify
in addition to all of those transaction
fees came to 43.35
we also had to pay for our domain
renewal and this is something that we
pay
every year in order to have our domain
say www.quenchsoap.com and that was
coming close to expiry so we had to
renew that that cost us
20.95 for the year so in total
shopify cost us 64.30
etsy fees are much higher and the reason
is because they take a lot more cuts
out of your sales and this is the reason
why if you were to see my products on my
shopify versus what's on my etsy
my products on etsy are priced a little
bit higher and i do this in order to
offset
some of those fees etsy takes a cut from
every single sale that you make etsy
charges you for every listing that you
put up
and they also take a percentage every
time they sell my items through their
offsite ads i want to create a video in
the future about etsy fees and
everything that you have to pay
in order to sell on etsy and even with
all of that even with all of their fees
why i still think it's a good idea to
sell on etsy that's a whole video in
itself stay tuned for that but in total
on etsy fees i spent 278 dollars and 32
cents
in total with our shopify and our etsy i
paid
342 and 62 cents to be able to sell my
products online in the month of december
my next expense is equipment and the
longer you run your business the more
you realize
how important it is to invest in
equipment even though
a lot of that equipment is going to be
expensive i absolutely make my
decisions on whether or not to purchase
a piece of equipment
on my needs i think to myself is this
going to help me produce my product
faster is it going to help me make more
sales
those are two key factors in me deciding
on whether or not it's worth it to buy
something
and in the month of december this was
really something that i needed to buy
and that was a
humidifier so on a humidifier i spent
152.53
my next big equipment investment was
actually in my youtube
i wanted to improve my sound quality i
wanted to improve my picture quality i
really wanted to make the best videos
that i could make
so that i'm better equipped to deliver
all of this information
in the most pleasant way possible for
you guys
for youtube i invested in a microphone i
bought a new lens
and i bought a tripod and this is the
setup that i'm working with right now
and i absolutely think it was worth
every single penny because i watch back
the videos
on the setup and i'm so clear the
picture is wonderful
i'm really really happy with that and on
my youtube equipment i spent
1 152 and
34 cents so all in all on equipment
in december i spent 1 302. and
87 cents my next expense was huge but
also necessary i sell online so i have
to
ship every single one of those packages
out and with shipping you have to pay
for the shipping labels i use two postal
services mainly
i either use canada post or ups and i
get my ups rates through eshipper so on
shipping labels i spent 1
879 and 26 cents
my next expense is one i highly
recommend for all business owners
looking to
level up their businesses and that is
subscriptions and what i mean by that
is there are a lot of online programs
that you can subscribe to
in order to improve your labels the
content that you create through your
business
and your business materials but when it
comes to graphics and how i
create certain types of content i love
and use canva
i have been using canva's free version
for
years and i've been completely happy
with that but i really wanted to
level up my graphics game and so i
invested in
a yearly subscription to canada for the
first time and i paid that in the month
of december it was 155
and 88 cents which equates to about
12.99
a month and the last expense that i want
to tell you guys is supplies
obviously with a sub and bath bomb
company you're gonna have to buy
supplies in order to make the products
in the first place
and you also have to buy supplies to
package and ship
out that product so my supplies expenses
included
ingredients packing materials ink
containers
and even office equipment that kayla and
i have to buy
and in total for our supplies we spent
two thousand
six hundred and sixty three dollars and
eighteen cents so
in total all of our expenses put
together banking
e-commerce fees equipment shipping
subscriptions supplies we spent five
thousand
nine hundred and eight dollars and 85
cents so if you take our total revenue
and you remove those expenses from that
that number is our total profit for that
month and in the month of december
we made a profit of nine thousand six
hundred and five dollars
and 36 cents and of course we have to
pay our taxes
we've been estimating that we are going
to be paying about 25
in taxes so if you take that profit and
you
multiply that by 25 you get a total of 2
400 and 1.34 cents in taxes so in order
to know our true profit
which is profit minus taxes you get a
final number of
seven thousand two hundred and four
dollars and two
cents that is a record profit for us
in my entire career of making soap i'm
so so
amazed this year was really wild and i'm
so happy that it ended on such a high
note
and even though it was super hard this
year we are super positive about
2021 we're already thinking about all
the farmers markets and events that
we're going to be attending
and also thinking about all these
exciting new income streams that we
their business could possibly be making
as well with that in mind we are so
excited to see where this business is
going to go in 2021
and what our income and expense report
will look like
in january 2022. i remember thinking
last year
this time last year thinking about how
many bars of soap i would have to sell
in order to make this a full-time income
and the number seemed impossible to me
i couldn't fathom having to sell that
much it just seemed
so much but i'm just now starting to
realize that
the more work you put in and the more
time you focus
on your business how possible things can
be
i just had to be willing to open myself
up to new possibilities
and opportunities and with that being
said i really hope this video inspires
you truly
i honestly wished i had a video like
this that i could have watched
last year to help motivate me when i was
just starting out
because all of this is so so
intimidating and if you're in that spot
if you're listening to all of this and
you're watching my video and you are so
overwhelmed my advice to you is to take
it one step at a time
approach it like a student learning
everything and being a sponge
absorbing what they can in order to get
to the next level i promise you if you
keep that up
if you are open to learning and trying
new things you will get there
so thank you guys so much for watching
if you found this helpful and motivating
please give it a thumbs up so we can
continue to grow this beautiful
community of fellow soap and bath bomb
makers
getting ready to crush it in 2021 if you
want to continue to follow this journey
please subscribe and to all of my
subscribers all of you are truly awesome
and i appreciate each and every one of
you
if you have any questions about what you
just saw feel free to leave them in the
comments
that is the place where i will most
likely answer them and until the next
video
keep shining keep smiling and keep
evolving
and i will see you in the next one bye
guys
[Music]
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