How Much Money Did I Make? Shop Update Vlog
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- Опубліковано 4 вер 2024
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It’s definitely not weird to talk about finances, really appreciate you speaking openly about it ❤
Also keep in mind this isn't profit either, its gotta cover the costs of the items, and the insane amount if taxes shell have to pay on that income.
Exactly, it doesn't factor in all other costs, like the products, subscriptions (like Shipstation & Shopify apps), shop & transaction fees, packing materials, etc. Canadian customers are charged sales tax which I don't get to keep, but is included in the sales number. As for income tax, it's not too bad. It's about 10% of my net income, after all expenses are deducted. Before incorporating, I was paying closer to 30%.
Yes, I was just thinking about this. Would be nice if it was all profits 😍
I’m still a bit off from opening my own shop and it’s been crazy to realize just how much money I’ve already spent and how much more I have to spend before I can even begin selling!
I’m lucky I will be getting a nice tax return because I already blew my budget for this month and my printer just bit the dust 😂
Have to decide what to get, spend the whole thing on the best possible printer ($900) get the lower range eco tank ($300/400) or get the good printer with the initial low cost and then spend $ on ink later ($100, plus $90 for ink each time) and on top of all that I want to get a thermal label printer 😅
@@mistymoon883 I say get the Ecotank printer, try it out and if you don’t like it then you can return it. I know it’s a pain but that might save some of your tax return. But I have an Ecotank and it’s great, mine isn’t the best model but in terms of being a quality printer it’s prints pretty well. If you do decide on that printer go with the large format that’s where I screwed up. Also, you can get the ink from Costco around 50 bucks, all 4 bottles. Good luck to you and your shop!
@@wonderwonder30 Thanks!
The printer I’m replacing is an Ecotank but it’s the very first model from years ago. Got it for my husband when he went back to law school and for years we were cranking out 500+ pages a month, only refilling twice?
I really really want the ET8500 as the reviews place it as the best option for art prints but the $900 is a bit much. I’m not sure if the lowest model 2800? Or the 3800? model is good enough quality to use for products to sell, or if it’s better to get the printer that (apparently) has really good quality but will cost more for ink.
If I outsource printing I don’t need to stress about the quality but as I’m so small and just starting out the costs are crazy expensive to get only a small amount done.
I guess get the $400 Ecotank, testing it out and returning if it’s not good enough is the best option! Or maybe get the cheaper one and hope that I can afford the best one before I spend too much on ink lol
Husband reminded me that it would be considered a business expense come tax time next year, I need to look into how all that can work in my advantage lol
Thanks for letting me write out my thought process and Thanks again!
@@mistymoon883 I got the cheapest Ecotank and it was awful. I returned it and got the 3800 and it is awesome! The only issue I have run up against is doesn’t do thick paper like 200 gsm and the maintenance box is something you might have to replace if your doing prints without a border. And I totally get sourcing out prints it can get expensive but Red River Paper has the best paper to print prints and you can buy a small quantity, you can always get test paper to see how they print out. Yeah, your husband is right, you can write it off but taxes are weird lol. But yeah, save yourself some money and go cheaper so you can buy some good quality paper. Just think you’re doing the best you can and if you have loyal customers they will understand what you are doing. I follow a bunch of artists who are right where you are and I appreciate their hard work and it somehow makes me appreciate the things I buy from them. So don’t worry you are doing great!
I plan on ordering some of the bags for the holidays because I like to use reusable packaging instead of wrapping paper. It would be really cool if you could do a sassy Santa bundle with gift tags and release them a few months before Christmas so that we could order them in time to be able to use them during the holidays.
You’re so right about Canadian shipping being stupid. Opus Arts was charging me $20 shipping for 1 pencil crayon, from BC to ON. It’s funny that the shipping is cheaper from the UK. Keep creating 💛💜💙
Right?! The lowest parcel price for even the smallest & lightest of packages is ridiculous. I guess the plus side is that heavier packages don't get much of a price increase.
Then for international it starts out relatively inexpensive (for under 250g) then starts skyrocketing as you hit higher weight classes.
@mzebony Wow! Really? That’s ridiculous. And I thought when I sent a couple of my coloring books in Canada the shipping was expensive just because I was ordering from the US. Yikes.
Yay! I'm so excited to get my package and I love being able to see a little more of the behind the scenes on what it's like to be a small business owner, including finances. As someone who hasn't ever been exposed to that world, I find it incredibly entertaining and informative.
Thanks for ordering! I'm happy to hear you like the info. I'm kinda nosy and like knowing all the details about other people's businesses & whatnot, even if it's a completely different industry than mine. 😆
As a small business myself, I admire that you feel you can be transparent enough to share your finances!
100k? Wow! Congrats on all your success. I've been watching you for *years* and I noticed your hard work and consistency throughout. Hopefully more success to come.
Wooo this is so exciting to watch! I’m actually an art teacher (crazy where life takes us - years ago when I started watching you I was a youtuber and never in a million years would have imagined I’d be teaching art) and I may have to show your vlog to my students so they see it really is possible to run a business based on the art they’re already creating. Thanks for sharing this!
So long as they understand they also need to be able to do stuff like troubleshoot code, figure shipping costs, do financial spreadsheets, find manufacturers, have a job while starting the brand, work like crazy for 10 years to get to this point… totally possible if you’re the right person with a little luck.
Congratulations Baylee! Its amazing to see your evolution. I've beenwatching for years now and its nice to see you enjoy an update without the usual "well, its 2am I think ill wrap it up for the day" . I look forward to your continuing to smash it. You work so hard xxx
i love seeing the backend of stuff in regards to finances and what not. seeing sales vs overhead vs profits vs product expenses fascinate me. mostly, though, it's just because i'm nosy and like seeing the inner workings of things
i think it's really interesting to hear about the financial side of your business; not a lot of people talk about it, and i'm happy you're willing to share
Thank you for the transparency. This is very interesting and motivating to watch. I wonder if you could make a "how I started my business" - video and give tips to others who are also interested in starting an art business.
Oh that would be fantastic!😮
@baylee jae not weird at all hun .. the thing is people have to also take into account all the money you have paid out for the prints /bags/ washi etc the shipping is a lot. i love all your vlogs and your live stream on youtube.. its always inspiring .. well done and congrats on your lanuch
A quick reminder about that printer! If you change paper, you're supposed to recalibrate it so that it can print better for that type of paper. It might help stop the weird issues you're having since you mentioned that it started when you switched over to the new one.
I finally figured that out yesterday 😅
Gotta remember, that income has to cover several months of salaries, taxes and future stock purchases. And all the other things that I don't even have a clue about.
I am very happy for you and it is very kind of you to talk about your finances and troubleshooting. I also have a shopify store and the most I sold in 3 year was $300. But watching you , I have learned a lot of managing a small business. Our markets different , but related to art. I’m not giving up, I still love my shop and is my happy place. Congratulations in your success, and keep it up. 🎉❤
seeing the financial side of this is great for small businesses like mine that want to get bigger. it's inspiring to see where i can end up, though i've got a long way to go!
I feel like from experience living within the EU, tracking is always a fricking must.. It is never fun to order something from the US, Asia, or anywhere else and not knowing where it is, how far its along or if it has been stopped at some border, especially because in Denmark we have a strict and high tax on things from outside the EU and package's are often hold for a day or two before they get to the delivery part, so i feel like "forcing" tracking on package's is a good choice :)
I haven't even finished but as soon as you said sweaters I DIED! Setting aside mons for it now!!! I cannot wait to see what you have planned!
Thank you for sharing this. Not enough people online discuss money. Especially YT. Would love a video on YT profit - all your expenses as well, it really teaches everyone about business and self-made as well. Love the background here as well, the light background with the pop of green shelving is beautiful. You are doing so well, congratulations.
I really appreciate you baylee for taking about finance stuff on your video, I'm working on my shop and your video helps me to understand of how some of it works for artist. ❤
Absolutely loved this vlog, thank you for the transparency! Cannot wait for my order to arrive! 😁😁😁
Baylee sprinting to check up on the toast is the most relatable thing I've seen all day! 😂 Thanks you for sharing all of this, and have a blessed day!
Thanks for sharing. I don't think talking about your store finance is weird because part of your vlogs is talking about the ins and outs of small business. Glad your opening did so well!
You are a big inspiration. I decided to start planning to start a business😅 I wanna make handmade watercolor paint and some other small art items
Fun fact: I watched half the packing stream before realizing it wasn't a vlog. lol. I mean, I didn't mind 'cause I was enjoying the vibes, but I sure did feel silly. lol :D
I did that too! 😂
I'm a few days late but I hope this helps!
The quote issue happens to me a lot at work - basically it's whether it's pasted as plain text or not. When you paste, I recommend using CTRL + Shift + V - that will always paste it as plain text so if you change font somewhere it won't screw up like that.
It affected all my products, even old ones. I don't copy & paste product names, since I use the "duplicate product" feature, then edit the details.
Oh my WORD. I have been having that issue with my label printer too and got so annoyed and bought a new one a few days ago… now I’m wondering if it’s Shopify. Also, so proud of you, Baylee! You’re killing it! And everything is so cute 🥰💕✨
I had to recalibrate the paper size by holding down the button on the top until it beeped 5 times. It's been working perfectly since.
Seeing what you make is really helpful. I’ve been thinking about starting to sell my art (at a much smaller scale ofc).
I love hearing about the finance side of your business. You're such an inspiration to me💜
Lol I like it when people are open with what they make because it’s so hard to judge what success is and who’s “bullshitting” idk I want to take advice from people that sell not people that don’t.
Thank you for talking about the money side of things, it is SOOOOOOO helpful for other artist.
I watched your stream but I'm still excited to see a vlog from you!
You can fix the problem with the lights by changing your camera settings. You can use a youtube video to see which ones to change
Peaches, peaches, peaches, I loooooove yooouuuuuu 🖤 we loves mario also
It’s very interesting to learn more about finances and trouble shooting aspects of your shop. Thanks for sharing!
Super excted to finally purchase some items from your shop, been an avid follower since 2013.
Congrats on your shop launch! I just put my order in! I'm sad I missed the bundles but I got lots of exciting goodies. The planner pads are my fav cause I work from home so they brighten my boring work week. ☺ I appreciate you sharing your sales and stats with us, it's definitely inspiring! 💕
I usually sleep in on Saturday but this morning I woke up briefly and thought “hey Baylee video day is today, I should get up!” So I did and it turned out that I was way too early lol 😅
I really appreciate you talking about the financial part of the gig. And yes, it also brakes my brain that when I have an order (Laval QC based shop) that's going to Montreal (QC), it's pricier then one going to California US! Having to charge so much for shipping is driving me nuts! But what can we do ^^; Also! Can't wait to get my package!!! Congrats on a very successful launch, no matter how big or small!
I sell jewelry from ontario..i don't get a discount either because im not a big seller but it costs 17 CAD to ship four hours from my house to toronto while its less than 10 to ship to florida...make it make sense canada make it make sense
@@YunaleeArt It does, i charge shipping though but a lot of people add the shipping into the cost of the item and then offer free shipping. That way they aren't eating it themselves.
Oh my goodness, the conventions!!! I forgot you did those!!
So interesting. More than 3x I make in a year 😂 hopefully my art business gets bigger soon and I can go full time ❤
Yay! What good timing I just woke up X3
Me too! Good to wake up to some Baylee!
Just bought duckies stationary so exited 😆
Thank you so much! 😁
I think it’s sweet Christian helps. Does he like the packaging? You both looked in your element in that one clip 😊
I've been curious about running online shops and such, I have some modest business knowledge and experience but for a different time before social media I'm now considering having another go, and opening a small shop or Etsy it's a good idea to learn as much as possible from those who are experienced on how things are run today. thanks for sharing this ❤
I sew bags and shipping rules with Shopify is my daily living nightmare. A single bag, no problem but when there are more then 1 I go over the USPS max size and the prices like triples. I really need to spend some time working on it.
I'd have ordered several more notebooks if you had them available 🤣 have you ever looked into doing just a basic journal using like Amazon kdp? Then you are hands off the shipping aspect. I have a matte and a Glossy I designed for my channel and I love the quality of both for an inexpensive notebook option I go though so many myself taking notes and planning and listing what has to go into descriptions etc it's ridiculous 😀
No, I haven't looked into Amazon. It's good to know you like the quality!
We saw nothing?? Ha I watched that mishap on instant replay a few times! 😂
Congratulations on your sales!!
Ey my order got packed on vlog! congrats on how far you have come!
I’m so proud of you!
Thank you so much for sharing! So nice to see how your business grew, so proud! :D
The Mario movie was soo good!
They are lovely 😊
The way you’re reusing your labels when they misprint is the way I reuse my label paper. I have us 8.5*11 sheets and can fit 2 labels per sheet so when I have an odd number of orders to package I’ll save the half I didn’t use and carefully tape it to a regular piece of printer paper (usually something that was a misprint) and feed it through that way. I really need to get a proper label printer though…
Baylee, for advice about how much money did you make. I want to make much money selling my artwork
so happy seeing you guys work on this ^..^ GOALS for sure :D
You are lucky that you have Christian... I think when you have a good connection with each other it is fun to do stuff together... ❤
So glad things went well, I know you mentioned moving away from stationary during the live stream but would you consider doing video game in a notepad format similar to duckies or releasing a range of digital downloads in notepad rather than planner format? ❤😊
Yes, actually! I want to make a handful of new notepad designs and release them all at once. Video game would definitely be on the list!
@@BayleeJae yay that’s brilliant as you may have guessed from my orders I love stationary 😂😂😂
Congrats on your success as a Cdn store.
Try upping you shutter speed to help with lights
I’m a little ducky 😂 swimming in the water 😂
Domestic Canadian shipping is abhorrently expensive & it frustrates me on a daily basis 😡🤣
It's cheaper to send a tracked parcel to the US, than to send a small package within my own city/Province.. And it's only getting more expensive.
I recently switched to flate rate CP boxes for certain items, as it actually works out cheaper than regular parcelmail (not much cheaper but every little helps)
Really appreciate you sharing some of the financial aspects of things - I find it so interesting 😊
It would probably be worth it for the most expensive postal codes. I'm not sure I would want to manually fulfill the orders & type out the tracking numbers though. They're also meant for personal shipping & wouldn't count towards my domestic shipping volume. Higher volume = better discounts. They also could not be manifested with the rest of my parcels, so I'm not sure if that would be a problem. So much to think about. 😫
@@BayleeJae lol I would nope right out of this option then 😂
I blanked & didn't take all those things into account 🤦♀️
Definitely a logistical nightmare!
The only reason Flat rate boxes work out slightly cheaper (for personal shipping) is because they don't add the fuel surcharge (which I'm sure you already know - fluctuates & increased a lot recently)
It's just so cost prohibitive to ship domestically & I imagine the impact it has on small businesses is huge 😔
CP really should give better rates for business accounts.. I could complain about this for hours 🤣
Canada Post shipping is SOOO expensive, I am live close to you and shipping is crazy all due to Canada Post unreasonable rates.
What is this new pink water jug you have? I must get!
It's like a purple wood grain, and it's the brand Manna. My mom gave it to me, so I'm not sure where she bought it.
I just looked and the little ducky small print is sold out,aww 😢
with the part about the codes i was like hmm maybe a space [i've had copy issues before] and look it was whahaha
😆
I find everything very fascinating with the whole small business thing. In regards to how much you earnt, is that all profit or is a percentage of that more covering what you spent on the products? I know at times you share the amount you spend on products etc, just curious how the numbers work :)
That number is before any expenses are deducted. It's purely money received from customers. I can't really calculate how much of that is expenses because a lot of my product was purchased for past product launches, and things like packing materials get purchased in bulk for multiple shop updates. I don't even try to calculate it because it would be too complicated.
@@BayleeJae Fair enough, totally understand that. That's amazing, well done. I love watching your videos and seeing your art going from paper or canvas to being a product that can be brought. I completely understand the anxiety of what if no one wants to buy this etc as well. You are doing so well and are such an inspiration :) Hope you are doing well
The shipping showing in the earnings for the month is always so depressing. 😂 I wish Shopify would let you pick to show the amount before shipping because you're like woohoo, then you release you've gotta pay thousands to shipping.
Right? Since I offer discounted shipping options, I charge less for shipping than I actually have to pay, so I take a bit of a loss. That would make the displayed number incorrect still, but it would be a lot closer!
I like seeing how many products you sold vs how much money you earned. It feels like a more tangible number to me? Not sure why
Post office Delivery limit of only 20 packages would be something I need to find out from my post office in my hometown village that I live close to. To see of their limit. Good to know that there is possibly a limit at the post office
That's not what the limit was. It was 20 API requests per minute, which I'm assuming meant fetching postal rates. But I don't work that fast, so I think it was something on Canada Post's end.
@@BayleeJae oh okay that make sense
How many days did it take for that amount of sales? You are amazing.
4 days. Thanks!
Where did you find your desktop wallpaper? its so pretty!
I googled "Dark Souls desktop background". Unless you mean the garden one, which I got by searching for Ghibli backgrounds.
Thank you so much forfor package in my order online
Pick up for Canadians within the area
At my house? No.
It still doesn't reveal your net income of a shop update, since there is a lot of cost of business, costs of inventory, partial costs of business equipment, electricity, share of the cost of the house in general, services like your book-keeper ... all that, it adds up.
Christian is such a prince
Thanx for posting this. The shipping prevents me from ordering anymore. 30 euro's shipping for 30 euro's worth of products is just to much. I get it is not your fault, but my brain can not ( or my wallet) Love your art!
[about it possible being flaunting] i mean you paid for the products. I very much hope you not just make back what you paid for it but that you indeed make money of of it. - shipping - fees
People also don’t take into consideration what you have to keep in the business for expenses to actually buy more product!
Do you cut Christian a check? ❤
I mean is he your employee or just helping?
He is an employee on the company payroll.
How often are shop updates? 2-3 months?
Buttons pins shop
wonderful Dear happy for you dear.
Do you close your shop online when you don’t have a launch?
I try to keep it open, as long as sales are coming in. As a new product drop approaches, I close it for a few weeks.
Ya Canadian mail is 🤬💰🤑💸
I don’t understand why domestic Canadian shipping is so expensive. I wish Canada Post was regulated so they weren’t run like a corporation for profit instead of the essential service that it should be.
Wouldn’t having a single box rule for just the large items mean that any package that contains large items, even if it also contains small items, put it in a larger box? Since you already have a rule for letter mail wouldn’t the default be the smaller box?
In response to the first sentence, that's how I thought it would work, but it only switches to the large box when there is a single large item (multiple SKUs makes it not change the box size). Yes, small box is default. As for lettermail, that is a completely separate thing controlled by a different app and has nothing to do with Shipstation.
@@BayleeJae Gotcha. I thought the rules were being set up in Shopify, not Shipstation. Even though I know we had some coordination issues for rules and whatnot when we were using Shopify too. That is frustrating and so strange. Good luck. I hope you can eventually get it figured out and shave some steps and time off packing.
What you do and have done with your shop is astounding and amazing. I quit doing events years ago, 2016 I think, after so many had scented junk and I ended up in the ER again for anaphylaxis with my asthma and extreme allergies. I enjoy watching the behind the scenes. I know how much work goes into all that. It’s great you show folks who might not know how much goes into everything. I hope someday I can get my online sales figured out too, since that audience transition didn’t go so well from in person to online. Happy packing!
girls can be playa's too.
Baylee question in the area of Canada where you have lived did the Government charge you with a yearly property tax on you automobile?
No. I've never heard of such a thing. Do some places do this?
You are such an art goat. It's always great to see your vlogs. Congratulations on the latest sales!
❤
The striping doesn't anoy... I didn't even saw it before you mentioned it... I know you are a perfectionist... don't. Your videos are of very good quality. And I look at vlogs that are worse. I don't care. It's the content that is counting... ❤😊❤
Why do you put the prices in USD?
Peaches peaches peaches peaches peaches I love you
Where is your work station white stool/chair from?
Amazon. It's not the comfiest for long term sitting, but it does the job when I'm tired of standing.
Thanks!
Question how much did it cost to startup your business? I’m considering starting a shop
Like $500 maybe. I ordered 100 enamel pins, backing cards, and bubble mailers. Maybe plastic sleeves. I can't remember.
@@BayleeJae thank you that helps me figure out starting up a small shop. I will also be able to continue the discussion I stated with my mom the other day. Love your art and am so glad that I can support you.
30€ for shipping plus taxes - that's to much unfortunately 😭