The first so-called “adding machine” was invented by Wilhelm Schickard in 1623. Over 300 years later, Texas Instruments produced the first handheld calculator and made history.
A little over 50 years have gone by and, already, a new revolution in business calculations has arrived: the online business calculator.
If you’re searching for the best calculators for your small business, you’ve come to the right place. Today, we’re guiding you through our top five favorite online calculators for growing companies.
Ready to find out which free and convenient internet calculators are the best? Then you better keep reading.
1. A Wholesale Pricing Business Calculator
Does your B2B company sell bulk products to other distributors or retailers? Then you need the wholesale pricing calculator from Stockabl.
This calculator allows you to differentiate between whether you split your production and design rates or keep them the same. You input each rate along with the time, material, and any commissions it takes to produce one product.
Once all of these items are complete, Stockabl’s calculator spits out your breakeven price per product. The calculator will then show recommended wholesale prices based on 20%, 30%, 40%, or 50% margins.
That’s not all, though. Stockabl goes one step further and helps you or your business partners calculate a suggested retail price. That way, you both know the true value of your goods.
2. A Breakeven Analysis Business Calculator
Sometimes, you only need to know the breakeven price per product. In those cases, stick with the much simpler and easier to use breakeven analysis calculator from Sure Payroll.
A breakeven analysis is important when calculating cash flow. Here’s how SurePayroll.com can help you do it.
To get started, you’ll need your expected unit sales and any fixed costs associated with selling a single product. Next, type in your price per unit and any variable unit costs it might take to produce a second product.
It really is that simple and you’ll soon see how many units you need to make zero profits. The calculator will also show a graphical representation of profit by sales volume. That way, you can determine how many units you need to sell to hit the margins you or your investors want to see.
3. An Inventory Turnover Business Calculator
As a small business owner, you spend a lot of time and money ensuring you have just the right amount of inventory. Too much inventory and you’re probably overpaying for warehousing. Too little inventory and your customer service may suffer.
That’s why you need the inventory turnover business calculator from Bankatfirst.com.
The inventory turnover calculator only asks for three values:
- The estimated value of your current inventory
- The cost of goods sold
- The estimated value of your inventory after goods are sold
Once you’ve inputted these values, your inventory turnover calculator will tell you how many times your inventory turns over per year. It will also tell you how many days it takes for one total inventory turnover to happen.
Oh, and here’s an insider’s secret: make sure you always set off thousands, millions, billions, etc. with commas. For example, 10000 should always be inputted as 10,000. If you forget to add the comma, the numbers will come out wonky.
4. An Email Marketing ROI Business Calculator
For every dollar you spend on email marketing, you can expect an average ROI of $42. Sound too good to be true? See the truth for yourself with the email marketing ROI business calculator from BPlans.
Here’s how it works.
The calculator will ask you a few questions about your campaign. It will want to know the size of your mailing list plus your estimated costs per campaign, estimated response rate, estimated conversion rate, and estimated average purchase price.
Once you’ve inputted all of these, the calculator will tell you the estimated cost per contact. It’ll give you an estimated response rate and the number of buyers.
Of course, you can also see the amount of revenue and profits you can expect from one email marketing campaign.
If you like the email marketing ROI business calculator, you may want to check out BPlans’ other business calculators.
5. A Business Worth Calculator
Business valuation services are expensive. Yet, when it comes time to sell your small business or take it public, investors want to know how much you’re worth. Lucky for you, Bizex has you covered with their free small business valuation calculator.
The first step to discovering your company’s value is to determine your cash flow. That means you’ll need full-year results for the last three full years you’ve been in business. Specifically, your annual sales, costs of goods sold, operating expenses, and add backs.
Next, the calculator will ask you to determine the multiple of earnings you need to use. You’ll state your company’s industry and manager’s salary. Plus, you can add any risk factors to ensure the most precise results.
Finally, the business worth calculator will ask for the purpose of the valuation. This one is completely optional, though.
Once you complete all of these fields, you’re finished! In as little as a few minutes, you can see a ballpark estimate of how much your company is worth.
Keep in mind that this calculator uses the Multiple of Earnings method. That means this calculator isn’t ideal for enterprise-sized or even mid-market companies. It is, however, perfect for your growing firm.
The Bottom Line on the Best Calculators for Small Businesses
With these five best calculators for small businesses, you can stop wasting time and money. Discover everything from wholesale pricing to business valuation, all with the ease and convenience that comes with digital calculation.
Loved this article and want more advice for your small business? Then you better keep scrolling!