carla l asked:
I’m looking to start my own online shop. I bought products at Wholesale Price, but now I have to figure out how to come up with Retail Prices to sell my customers. I need help! Thanks
I’m looking to start my own online shop. I bought products at Wholesale Price, but now I have to figure out how to come up with Retail Prices to sell my customers. I need help! Thanks
August 27th, 2009 at 20:01
You could start by comparing your prices to others but keep in mind that you’ll want to do more than just cover your operating expenses. Start researching.
August 29th, 2009 at 22:40
ok u bought at wholesale..so here the key to that
lets say u bought 100 lawn mowers and a comparable mower is is $300 but u payed $20,000 for those 100 mowers
u can go 2 ways u could sell them for $295 and sell them for a profit of 95 bux each but u wouldnt seel a huge amount..well say 2 a week so thats 190 every week profit
now heres option 2
u sell them for $225 each which beats the comparable 1 (by almost 100 bux in the mind of a possible buyer) but then u sell 2 a day that way..$250 profit a week
we run alot of fireworks tents in minnesota and this is how we go about it..my 1st year of doing it i worked with TNT fireworks who straight out said we make our own retail price and cut it about in half to make it look good to the buyer then we offer buy 1 get 1 which makes then think its an awesome deal
we had been buying wholesale fireworks for a few years prior but here we have to ….were supposed to only use “safe and sane” but wed buy nothing but the good stuff..so after that we looked at safe and sane products and “killer bees” that were retailed for $10.xx then is sold for 5.99 each plus buy 1 get 1 was basicly $3 each..we buy then wholesale for $.33 a peice for generic or the spitting image for $.40 each
so when we sell them buy 1 get 1 ..for dumb people that think its a deal we sell them for $3.00 and make a killing..when something is noticebley cheaper people take note and talk to their buddys which is the best advertizing out there…who would u listen to?..a tv commercial/ad or yer neighbor that has no reason to lie to ya…thats just 1 example but if u can make people talk about the prices on the good side youll have it made fast..and of course the more product u buy the better the deal youll get from your supplier..hopefully that helps