![]() ![]() For example, if you wholesale a product for $8 and your target retail mark-up is 200% ($24), charge $12 instead ($8 x 1.5). When in doubt, start with a higher percentage rather than a lower one. We will go into more detail on retail pricing a little further down. However, certain products such as jewellery tend to have a higher profit margin.Īlternatively, you can determine the retail price first to figure out your wholesale price. The standard mark-up is usually 50% – 100%. To do so, add 20 percent or more on top of that number so that when selling products wholesale, you’ll still earn some kind of profit per item sold. Calculate your wholesale product price or selling priceĪfter figuring out your wholesale cost, you’ll want to calculate your wholesale product price. Even if you were to purchase products from a manufacturer, the cost that you have to pay for each item has been calculated with labour included otherwise, all businesses will be running at a loss and eventually go out of business, which is something you don’t want to happen. It is essential to factor in labour – the time it takes you to make each product. ![]() Labour is the number one cost that generally gets forgotten about, common among sole traders and individuals that hand makes products. This includes labour, packaging, and any associated overhead. The more you mark up your price, the higher your profit will be – but also keep in mind that it will also be more challenging to sell and harder for retailers to justify paying such a high price.īefore you start making wholesale transactions, determine how much money you need to turn a profit and determine your cost of goods by adding up all your direct costs related to sourcing and selling your product. ![]() To determine your product price, you first need to calculate your wholesale product cost this is essential in figuring out what to charge your retail customers. While there are no steadfast rules to follow, here are some tips to help you determine the best wholesale product price and profit margin for your wholesale business. If you’re wholesaling, you may be wondering how much to mark up your product price? And what your wholesale product profit margin should be? When wholesaling products, your goal should be to make the most money possible without sacrificing sales volume by pricing your goods too high. How Much Should You Mark Up Your Product Price as a Wholesaler? ![]()
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