EveryStem User Guide: Definitions (Click here for PDF version)
Recipe Pages: The recipe pages are the working pages within your EveryStem event.
Scroll to the bottom of the recipe pages to see the financial details of your recipes.
The terms we use within the Recipe Pages are defined below.
Extended Cost: The total wholesale cost of all the items in your recipe multiplied by the quantity of designs you are making of that recipe.
For example: You enter 1 in the QTY box in the header section for a recipe.
The Extended Cost is the total wholesale cost of all the items in the recipe for 1 design.
You enter a 10 in the QTY box in the header section for a recipe.
The Extended Cost is the total wholesale cost of all the items in the recipe for all 10 designs.
Labor Fee: The portion of your retail value that is allocated to labor/design fee. Shown as a percentage.
For example:
Extended cost for your recipe is $10. Your markup is 3X. $10 x 3 = $30.
The Labor Fee is calculated after the markup is applied to the items in your recipe.
$30 x 30% = $9 Labor Fee
$30 + $9 Labor Fee = $39 Retail Value
Supplies - Retail Value: A placeholder for any additional costs or fees in your recipe. Enter at retail price.
Retail Value: The Retail Value of your recipe.
The minimum amount you need to charge your client for your design as calculated by the software based on your markups and fees.
For example:
Extended cost: $10
Markup: 3X
Labor Fee: 30%
Supplies - Retail Value: $5
Retail Value = $44 (calculated by the software)
Charge your client no less than $44 for this design. If you are pricing for a future event, round up to build in a buffer for price fluctuations.
Quoted Price: Enter the price you plan to charge your client here.
This is the price you are quoting the client. If you do not enter a Quoted Price the software will set this value to equal the Retail Value by default.
Difference: Difference = Quoted price – Retail Value
The Retail Value is the minimum amount you’ll want to charge your client for your design as calculated by the software.
The Quoted Price is the amount you charge your client. You enter this number into the recipe.
When the Difference between the Retail Value and the Quoted Price becomes negative and the font changes color, that means you have gone over your budget for that recipe and will not achieve your profit margin goal.
If this happens you have two choices to get back on track. Either raise your Quoted Price or lower your recipe quantities to course correct so that your Difference is at least zero or a positive number.
Profit Summary: The EveryStem Profit Summary is an overview of your event’s financial information and can be accessed by clicking on the Profit Summary button at the top right side of your screen in an event or viewed at the bottom of the Summary page.
The terms we use within the Profit Summary are defined below.
Extended Cost: The wholesale cost of all the items in all your recipes in the event.
Extras Cost: The total cost of all the flowers you’ll need to buy to hit your wholesale pack quantities.
For example:
You create an item in your EveryStem account called “Rose, White, Tibet” with 25 stems in a pack.
You add “Rose, White, Tibet” to your event and enter 12 stems into your recipe.
You can’t buy 12 stems from the wholesaler. You must buy them in packs of 25.
In this case you will have 13 extra roses.
The Extras Cost is the cost of all the items you need to buy to round up your order to full wholesale pack quantities.
In this example let’s say the roses cost $1.50 per stem. And you have 13 extra stems.
13 x $1.50 = $19.50 is your Extras Cost.
Total Cost: The total wholesale cost of all the items in your recipes plus your extras.
Total Cost = Extended Cost + Extras Cost
Quote: The price you charge your client for all the designs represented in your event.
This number must be higher than or equal to the retail price to achieve your profit margin goal.
Retail: The minimum price you need to charge for all the designs represented in your event calculated by the software based on your costs, markups, and labor fees.
Difference: Difference = Quote – Retail.
The amount between the price you are charging your client and the price the software calculated you need to charge to achieve your profit margin goal.
Profit Margin on Flowers: Shown as a percentage. The portion of your sale that you get to keep as a profit after paying for the wholesale costs of all your items (flowers and supplies) in the event.
Profit on Flowers: The portion of your sale that you get to keep as a profit after paying for the wholesale costs of all your items (flowers and supplies) in the event.
Labor Fee Total: The total amount allocated to labor / design fee for all recipes in the event. Note: this total is found only on the summary page.
Supplies Retail Value Total: The total amount allocated in the Supplies-Retail Value line for all recipes in the event. Note: this total is found only on the summary page.
Still have questions?
Email LuAnn anytime to ask questions or to schedule one-on-one customized support.