Free tool
A 20% markup is not a 20% margin
It is 16.7%. The two get used as if they mean the same thing, and on materials across a year the difference is real money. Work out either one here.
What you paid the merchant, before anything you add.
Which do you know?
The percentage you put on the cost price.
Charge the customer
£480.00
You keep
£80.00
Markup on cost
20.0%
Margin on price
16.7%
The difference, in one line
Markup is measured against what you paid. Margin is measured against what you charged. Same money, two different sums, and the margin is always the smaller number.
Which is why a 50% margin needs a 100% markup. If you have been told to work on a 30% margin and you have been adding 30%, you are a third short of where you think you are.
Set it once, in your price list
Belo holds your own prices and your own markup, and every quote it drafts uses them. Which means you work this out once rather than in your head on a merchant forecourt.