How To Price Your Products | Retail and Wholesale Business: Selling Price Tips and Tricks 

can i ask

you can decide markup or the smart way is to research your industrys ratios to see what similar businessses markup is..take an average and play around a bit with it in ya forecasting..buuuut seee most small business owners have no clue what im talking about since they wear the sales hat..not the financial hat and uncle joe does the books but does not understand the metrics beyond the numbers...

thanks for your time

Labour cost to make one unit i think

If im not mistaken the overheads is all the other expences a company has. For example you manufacture metal product. Your material is your steel or aluminuim etc. Labour is what he said in video. And overhead will be like how much electricity your machine uses and the oil and water that is used with machine and so on. Thats what i was kinda told about overhead. Its the other costs the company has to make up for. Basicly the other expences the bills and so on. Like you maybe renting a building for business, but you must also pay the water and electric bills. Your business at end of day must provide the profit in such a way that you can buy new material, pay the labourer , and also pay the overheads.

Profit÷total revenue x 100 =

He is a crazy it is wrong way to decide wholesale price

Correct, I'm saying this too.

Oh, he will "not" for sure 😊. Coz He don't know as well

That's an example

Thats called wholeseller 😂 he is explaining business owner bro

its just an example..the numbers are made up to illustrate the calculation..relax and try to apply what your learning in ya biz

It should be the same as the wholesale price of your competitor's product. Doesn't matter how much it is costing you. You have to find a way to reduce the cost.

@@kenilsejani3043 I want to start a wholesale business but i can't figure out what's the cost of competitor

Nahi bech sakte kyun k uspe mrp mention hai agar bechega to fasega

Overhead = tax fees

Mark up refers to the value that a player adds to the cost price of a product

The difference between cost price and selling price.....

Markup means profit

Yes but you should be a repacker with all legal documentation

Profit margin! It could be 2, 2.5, 3 as per company objective to achieve profit

No one puts that much margin Material where you will het at 10rs no where you can get if you get material at 10rs then how about making and labour and transport and maintaining charges!?? You have to consider all that

Jitna Paisa chaia

no. your price has to cover everything. this formula helps you figure out really what you really need to charge. most businesses price their products too low and they run out of cash! 😮 Think of a job. if you dont make enough you cant cover all ya bills. you lose ya job you lose your cash flow! so be brave and think.. can i cover my biz and household running this business at a respectable profit margin over a period of time??! if not just keep ya job and pray you wont get fired!😂

How? Can yoh explain?