Nail Your Prices!
How to price your handmade products so they make a profit with every saleA 3-part mini-course delivered live
Click to jump down to the video:
Part 1: Covering Your Costs
- Some common pricing mistakes
- Pricing based on what feels right
- Pricing based on what you would pay if you were the customer – you are not your ideal customer
- Pricing based on competitors’ pricing
- Assuming you need to make a loss for the first couple of years
- How to calculate your production costs
- A couple of different methods of calculating your overheads
Part 2: Adding profit
- What profit is
- Profit margins
- How to add profit to your price
Part 3: Adding Markup
- What markup is
- What it covers
- How much markup to add
- How to calculate your retail price with markup
- A final worked example
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