UNIT
Free Template · Spreadsheet

UNIT ECONOMICS
MODEL

Model your DTC unit economics from COGS through to LTV/CAC ratio. Know your numbers before you spend a penny on ads. Build the financial foundation the business needs to scale.

Format
Google Sheets / Excel
Metrics
12 Core Inputs
Outputs
LTV · CAC · Payback
Price
Free

WHY UNIT ECONOMICS COME FIRST

Most DTC brands start with a product and a social presence. The founders who build sustainable businesses start with unit economics. Not because the numbers are exciting — but because the numbers tell you whether the business can work before you spend six figures finding out it cannot.

The unit economics model calculates the relationship between what it costs to make a product, what it costs to acquire a customer, and what that customer is worth over their lifetime. When the LTV/CAC ratio is above 3:1 and the payback period is under 12 months, you have a business that can fund its own growth. Below that, you are subsidising growth with capital that may not be available forever.

Input
COGS
Cost of goods sold. Materials, manufacturing, packaging, and shipping inbound.
Input
Selling Price
Average selling price net of returns and discounts. Use blended, not RRP.
Calculated
Gross Margin %
(Price − COGS) ÷ Price. The foundation every other metric builds on.
Input
Fulfillment Cost
Pick, pack, and ship per order. Often underestimated in early-stage models.
Input
Return Rate
Blended return rate as % of orders. Build in realistically — not optimistically.
Calculated
Contribution / Order
Revenue minus COGS, fulfilment, and payment processing per order.
Input
CAC
Blended customer acquisition cost across all paid and owned channels.
Input
Repeat Rate
% of customers making a second purchase within 12 months.
Input
Purchase Frequency
Average orders per year for a repeat customer. Critical in consumable categories.
Calculated
LTV (24m)
Estimated lifetime value over 24 months using contribution and frequency inputs.
Calculated
LTV/CAC Ratio
The headline viability metric. Target 3:1 minimum. Below 2:1 is not sustainable.
Calculated
Payback Period
Months to recover CAC from contribution. Target under 12 months for DTC.
Core Formula
LTV = (AOV × Gross Margin%) × Purchase Frequency × Customer Lifespan
LTV/CAC = LTV ÷ Customer Acquisition Cost
Payback Period = CAC ÷ (AOV × Gross Margin%)

Target: LTV/CAC ≥ 3:1 · Payback ≤ 12 months

The model includes scenario tabs for best case, base case, and downside. Run all three before you commit to a growth plan. The business that can survive the downside scenario is the business worth building.

Free Template

DOWNLOAD THE UNIT
ECONOMICS MODEL.

The financial model Viable uses to evaluate every brand. Pre-built formulas, scenario tabs, and benchmark targets included. Enter your email and the download starts immediately.