How should I determine how to price my products? I've looked at many websites and at local shops to get ideas but prices vary so much that I don't know where to start. Obviously, I don't want to price everything too low but I don't want them to be too high, either. That said, I guess I'd rather price at the higher end since I use high end ingredients and make gourmet-type products. Is there some formula I could use to make this easier?
Most people say the cost of the ingredients times 3, Then you have to look around to make sure you are near the prices in your area. By near you can be lower or higher based on your feeling.
Good luck
Julia
Most people say the cost of the ingredients times 3, Then you have to look around to make sure you are near the prices in your area. By near you can be lower or higher based on your feeling.
Good luck
Julia
Plus factoring an hourly amount for your time. I read somewhere that they also add this to the ingredients and multiply by 3, but that seems too high. Perhaps multiply the ingredients by three and add a reasonable hourly wage.
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