Retail prices

[jemma890]

Hi

Im looking to start retailing but just wondered how you decide what price to charge if you cant find a rrp.
I'm thinking about nail files, foot/heel creams, foot files etc

Thanks x

 

[Zabulec]

Hi, when companies give you RRP it normally has 40% profit margin

 

[jemma890]

how do you work out what to charge if there is no rrp
x

 

[MelSoper]

Normally it is 40%-55% Profit, depending on how much you wanted to charge, work out the price that you pay for it then add however much percentage you want to make ontop of it, then there's you price to charge.

I would look around at salon's in your area to see if they stock any of the products and see how much they charge for them and go from there

 

[squidgernetball]

Blimey, my mark up is usually 100%!

Vic x

 

[jemma890]

thanks this is my first time retailing anything so unsure of how to work it out x

 

[Mooey]

Sorry - I know this is an old post, and I haven't been around for a while but those saying they have a profit margin of 40-55% I think are mistaken. Whilst the wholesalers may sell to you at a 40-55% discount to the RRP, the profit margin is usually 100%(+) as Vic said x

Oh and Jemma890 - I'm sure you already have a pricing structure by now but a good formula to use is:
Trade cost + 20% x 2. That will give you 100% profit margin. If you need a 200% profit margin it would be x 3 and so on. Hth