Bug Armor: One gallon was about $125. Used 6 ounces. Cost was about $6.
Boric Acid. 5 lbs cost $20. Used 0.5 lb. Cost about $2
Alpine: 500g cost $190. Used 10g. Cost about $4
Giant Glue Boards: Case if 24 cost $77. Used 4 boards. Cost $12.
Steel wool: Maybe $0.20 for what I used.
60 miles on my truck. The gas in it was when Trump was still President, so maybe $1.88 when purchased, like $2.85 to replace.maybe $6 to $8 for the trip.
Total cost to business: $20 to $22.
This question has made me realize I need to keep better track of this. I still have all of my receipts. I need to organize them better and make them easily accessible.
Edit- I’m going back for a second app. He hasn’t had service in over a year, so wanted to give a two week follow up. Charged full price for his property size (1500sq ft or smaller is $99.99. Every 500 sq ft is +$25. Property was 3300sq ft. So $199.99), but gave him follow up for free. Then he goes quarterly. Some of those prices above will be doubled to compensate for return trip. Remove boric acid, glue boards and steel wool costs for second visit.
So the 30-second version:
Sales (revenue)
<less> COGS (the cost to produce the product or service)
<equals> Gross profit
<less> all your expenses (everything not COGS (licenses, rent, utilities, payroll, interest on loans, etc)
<equals> Net profit
Net profit/Total Revenue = Profit margin
So, with this in mind, you want to right down (preferably in something like excel) your COGS for all the various types of jobs you perform. This tells you how to properly price out your jobs. This is CRITICAL.
Then you need to figure out over a year's time how much revenue you need to book to be profitable. The idea is to back into this number. You calculate/estimate your annual expenses (every single penny) and then this tells you how much gross profit you need to cover your overhead. Don't count total sales since you have to pay for the COGS to generate the sales so you need gross profit to exceed total overhead expenses.
Also critical. You currently aren't paying yourself. You have to factor this in as
BrutulTM
mentions.
The margins sound amazing so assuming your numbers are correct, this is how it would look.
Sales $299
<less> $22 COGS
<equals> $277 gross profit.
Lets make up some numbers.
Assume your total annual overhead are $50,000
You make $277 gross profit per job.
You need to perform 180 jobs a year or 3.5 jobs a week to break even. But this doesn't "pay you".
Lets assume you value your time at $30/hour. 30*2080 (work hours in a year) = $62,400.
So now lets factor that in to the equation.
$50,000 + $62,400 = $112,400 annual objective
112,400/277 = 405 jobs a year or 8 jobs a week to break even and pay you a $30/hour salary.
This ignores things like payroll taxes, benefits income tax and a world of other stuff. But for now its a simple model to give you a visualization of exactly how much revenue you need to make for your business to be profitable and for you to make some scratch doing it.
I can't stress enough, excel makes this much easier for you. Something like quickbooks online or something similar is valuable. It isn't critical right now sicne your volume is low and you can handle it all in excel. Either way you need to track everything. Every penny.
More than 30 seconds but you hopefully get the idea.
tldr: Know what your service costs you to provide it. Know every single penny of expenses (overhead). This allows you to know how many jobs you need to perform to be profitable. Calculate in some sort of salary for yourself. Win.