Product Update: Product Sales Profit Margins

At ClubReady, we want to make sure you are up to date on what we have been working on to help your system run more smoothly and efficiently - so you have more time to focus on your club! 

If you ever have any additional questions, or would like some clarification on anything, please live chat with us, email us at support@clubready.com, or call 800-405-4818.

This feature's updates:

Clubs will now be able to see profit margins on their product sales.

First, clubs will need to ensure that their products have an associated wholesale cost per unit, or cost to the club in Setup > Products > Products > individual product:

Clubs will then be able to see the profit/loss on each product in Reports > Sales > Product Sales:

*Please keep in mind, the "Purchase Amount" may reflect a different amount than the price multiplied by units if any of those units were discounted. However, it will show dollar and percentage profits from the revenue generated versus cost to the club per product in the selected time period.

Corporate level users will choose between viewing profit margins based on wholesale cost versus price (i.e. seeing club level profits) OR corporate price versus wholesale price (i.e. corporate profit on corporate products that the clubs would have purchased directly from corporate to sell in the club). This is now a choice in Reports > Sales > Product Sales:

Similar to the club level, this will assume there is a corporate cost associated with corporate products in Setup > Products > Products > individual product:

How does this affect me at the club level?

This feature will allow clubs to more easily, efficiently and accurately track their profits and profit margins for each product. Knowledge is power in this situation and can help guide clubs in their decisions on which items to feature more prominently, which items to discount and clear off the floor, and potentially which items to stop ordering.

Please be aware, if there is NO wholesale cost or corporate cost listed on the product, depending on how you are viewing the report, your profits and profit margins will be left blank.

So, what is the takeaway?

At ClubReady, you can be assured that every day we are working hard to protect the integrity of our system for you. This ranges from enhanced operations to data and information security - while putting pieces in place to solve problems before they arise so that you, our clubs, can spend more time working your business than working our system.

Again, if you have any additional questions, please reach out to us with the chat feature, email us at support@clubready.com, or call us at 800-405-4818.