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It is critical to keep track of and analyze the expenses and profits of your eCommerce business, especially on the Shopify platform. However, it is not always easy to calculate your profits precisely. That’s why you need a Shopify profit calculator.
A profit calculator app helps you track the business number of orders, shipping cost, advertising cost, and more. Then, it brings all the metrics together so that you can make data-driven decisions and grow your business effectively.
In this blog, we will tell you the importance of knowing your profit margins, and finally, some of the best profit calculator apps on Shopify.
The importance of knowing your profit margins
The ultimate goal for most businesses is profitability.
First, if your sales are rising but your profit margins are falling, you should look more closely at how you manage your company. In addition to reasonably pricing your goods and services, it’s crucial to avoid undercutting yourself and putting your company at risk of going out of business.
Therefore, understanding your profit margins is crucial because it reveals how much of each dollar ends up in the bank.
Second, a good business with healthy profit margins allows a company to remain afloat during tough times and capitalize on opportunities when they arise.
Moreover, knowing your profit margins shows whether your company is making enough money to cover its costs. It also allows the business to plan to reinvest in itself, expand its operations, and pay its employees competitive wages if the profit margin is high enough.
Finally, knowing your profit margins and presenting them on the financial report is a good way to send a signal to your investors. For example, if your profit margins are high, you can send a positive signal to potential investors, lending credibility and stability to the business.
Top 5 Shopify profit calculator apps you can rely on
With the importance of knowing your business’s profit, it’s time to get your hands on calculating. However, you can also opt for the top 5 profit calculator apps on Shopify that we’ve picked out to get the best result!
1. True Profit Calc & Analytics by OneCommerce
Rating: 4.9/5 ⭐
Pricing: $19.95/month – $69/month | 14-day free trial
True Profit is a leading Shopify profit calculator app with powerful automation and real-time tracking capacity. More importantly, this Shopify app allows you to monitor costs and revenue in an all-in-one dashboard, helping you save time from jumping from one report to another.
Besides, it also provides integration with multiple ad platforms for all Shopify merchants. Therefore, you’ll know exactly how much you are spending on each ad campaign and make data-driven decisions for your business.
If you upgrade to the Advanced and Ultimate plans, your monthly order limit will be higher. Additionally, the exceeding order costs will be lower than the Basic plan.
- Keep track of all costs including COGS, Ad spends, Transaction fees, and shipping costs in real time.
- Analyze all changes to your store data at different time ranges with a new Time series Line Chart.
- Easily monitor your profit on the go with a mobile app that is available on Google Play Store and App Store.
2. BeProfit Profit Calc & Reports by BeProfit
Rating: 4.9/5 ⭐
Pricing: Free installation. Upgrading plan from $25/month | 14-day free trial
The second Shopify profit calculator app on our list is BeProfit. This profit calculator app is designed to maximize your business profits and help you grow your online store.
The Ultimate plan offers customizable and multishop dashboards, LTV cohort analysis, marketing performance insights, and more.
Features of BeProfit Profit Calc & Reports:
- Turn complex data into understandable concepts and give you a complete overview of your business through intuitive charts and graphs.
- Provides a fully customizable analytics dashboard to create and export data reports, and use different profits. calculation preferences
- Integrate with Facebook, Google, Instagram, TikTok, Pinterest, Snapchat, Bing Ads, Google Analytics, and more.
3. Profit Analytics & Benchmark by Conversific Profit Analytics
Rating: 4.9/5 ⭐
Pricing: Free installation. $29/month – $199/month | 14-day free trial
The next Shopify profit calculator app is Conversific Profit Analytics. Additionally, if you want a feature to benchmark your store and compare it to your competitors, this is definitely worth your consideration.
If you upgrade to the Business plan, you’ll have unlimited stores, all date ranges, segments, all benchmarks, and all integrations.
- Easily monitor your store performance and resources and track your profit with its Marketing Analytics reports.
- Learn the strengths and weaknesses of your business by comparing your own online store against your competitors in the industry.
4. Profit Calc: Profit Calculator by Profit Calc
Rating: 5/5 ⭐
Pricing: $29.95/month | 15-day free trial
Fourth on the list, we have Profit Calc – one of the most straightforward Shopify profit calculators on the platform.
Profit calc only offers one plan, which is the Unlimited orders plan. It offers advanced analytics, premium support, and major ad platform integrations.
- Effortlessly customize your product costs to get precise cost of goods sold information.
- Automatically calculates credit card fees: Built to work with Shopify payments, Klarna, Paypal, Mollie, iDeal, and Stripe.
- Calculate your store’s gross margin, profit margin, average order value, total ad spend ROI, and total profit.
5. Profitario ‑ Profit Analytics by Saritra
Rating: 4.9/5 ⭐
Pricing: Free installation. Upgrading plan from $20/month | 14-day free trial.
Profitario comes fifth on our list. Their profit calculation for Shopify stores and free invoices for AliExpress orders makes them a great choice for small dropshipping businesses.
Upgrading to the Professional plan will provide unlimited Shopify stores and orders for your business. Moreover, you also have analytics integration, dispute integrations, shipping cost integrations, and more.
- Bring all the important cost data together in one dashboard: Revenue, cost of goods sold (COGS), advertising spend, returns, and disputes.
- Come with a Chrome Extension that pulls in your AliExpress orders and matches them to your Shopify orders.
- Track price changes over time by using the Historical Costs tool and offer easy tools to quickly enter COGS for each product and variant.
Profit calculation has a significant impact on your long-term business strategy and bottom line. That’s why you should be very careful to calculate it.
Shopify profit calculator app has come to life to create a seamless experience to run and manage your business. As a user, you now have all the tools to calculate your business’ profitability to evaluate your company’s finance better and increase your income.
Finally, you can take time to learn more about fantastic features from the above apps and how you can apply them to your business. I hope that this blog from OneCommerce can assist you in improving your business’s bottom line by calculating the correct profits.