Hey guys, you all know I'm getting a stringing machine, of course I don't buy a machine to make money or expect to save a load. In fact I thought if I even break even, I've got a machine here for my convenience and can also be sold at anytime for a good amount of money. So breaking even is a gain. However, regardless of the results, I'd still like to keep track of how this machine has affected me economically. I decided to do a forecast of all my costs. Obviously not everything will go according to plan. All prices are compared to ProShops I use for stringing. I have gotten all the prices very recently, you may PM me for the sources. Also this model would assume that every penny I make from sales would be stuffed into a can never to be opened. All prices have been converted from US to Canadian, sorry for any inconveniences. Here it is: Machine - Laserfibre MS200TT ECO - $540 - Shipping - $70 $ 610.00 Strings - BG65 x 5 = $30 - BG66 x 5 = $31.5 - BG85 x 5 = $36 - Hi-Qua B-696 = $42.5 - Babolat Super Fine Play 17 = $50 $ 190.00 (w/o shipping) Tools - Starting Clamp = $42 - Alpha Flying Clamp x 2 = $48 - Straight Awl = $3.5 - Curved Awl = $3.5 - Badminton Awl = $2 - Setting Off Awl = $3.5 - String Mover = $7.50 $ 110.00 (w/o shipping) ---------------------------------- Full Cost -$ 910.00 ---------------------------------- ---------------------------------- Strings Badminton: BG65 - $6.00 - 5 peices BG66 - $6.75 - 5 peices BG85 - $7.25 - 5 peices B-696 - $0.90 - 50+ peices Tennis: Babolat SFP 17 - $2.80 - 18+ peices Laserfibre Classic - Free - 12 peices Labour = 9 dollars for B-696 = 7 dollars for BG65 = 10 dollars for BG66 = 12 dollars for BG85 = 17 dollars for SFP 17 = 25 dollars for LF Classic Badminton labour = $595 Tennis labour = $606 ---------------------------------- Gross Profit = 1236 ---------------------------------- ---------------------------------- Net Income - $292 (Enough to get myself fixed clamps upgrade) *Uncalculated Losses - Some close friends will get some freebies from me - Not all strings will get sold - Uncalculated shipping - Might break somebody's racquet ><" *Bonuses - Saving $18 everytime string BG85 for self instead of $12 labour - Saving $16 everytime string BG66 for self instead of $10 labour - Saving at least 30 dollars everytime string tennis for self (cheapest stringjob $32) - Save time and gas money for restringing (especially with gas in 95 - 102 cents range) - Ability to try new/interesting strings for cheapest price possible - Convenience (Want new strings? You're not wasting $32 dollars, more like $3!) - Experience and satisfaction of being a stringer - priceless
I'm also going to try VERY hard to keep a basic accounting system for the machine. At least until my break even point. Basically each time it is strung I will write down the cost of supplies used, and the money recieved. I think it'll be interesting to see how reality compares to my forecast. Also if you guys would like to do your own forecast and you'd like to use my model and just edit it to your own needs, feel very free to. I'm interested in what figures you guys come up with as well.
Hi Fishmilk, and fellow stringers ! I agree with you that it can be a good idea to keep a record of expenditure when stringing as there can be a lot of initial outlay, with the purchase of a machine, tools, reels of string etc. Not everyone is interested in doing a lot of stringing for everyone, but I wondered if you or others had thought of recording all the information on a spreadsheet such as Excel. ( that is if you have a PC of course ) I have been stringing regularly now for 3 years and find the recording of lots of information on a spreadsheet invaluable. I keep a record of every racket I string, including the date, player, racket, string, tension, charge & profit. Once you have constructed a simple table of columns then it is very easy to update on a weekly basis. Takes 10 mins. Players like it as I have an exact record of all their previous restrings and we can discuss if they wish, to experiment with a different tension or change the type of string used. The spreadsheet has now grown & has seperate pages which include, String stocks, string types, Restring records, Monthly restring totals, Profit per month, Racket sales etc. and 2 of these sections produce a graph which I can use to predict demand during the season, most popular strings for keeping in stock, and profit made per month. This may sound complicated, but is in fact simplicity itself to set up, and takes very little time, but would probably not be necessary for anyone stringing less than say 30 rackets per season. From starting restringing as a hobby and to keep down costs, I have found a steadily growing demand locally that has now grown to around 300 rackets per year and as I now have 3 years of information recorded on Excel, the data is helping in all sorts of ways, and may be useful if I ever try to make a full time business from restringing. Thought I would share this with anyone who restrings regularly, and I assure you I am no computer geek ! excel does all the calculations and graphs, I just use the information, which I believe customers appreciate, it makes me look more professional, and it has helped me to develop this little hobby of mine ! I will soon need to get my family involved if trade continues to grow at this rate. Ramada77
