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Old 02-11-2010, 02:00
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Default Selling Wholesale Help!! PLEASE!

So I have a great opportunity to sell some items wholesale to a local grocery store and I'm trying to figure out my wholesale prices. They already have some other clips in their store and the company gets them all from China so their wholesale price to the store is $1.75. How am I to compete with this price when most of my supplies and everything costs that much, not including display cards and the time it takes me to put them together. I still want to at least try to go in with my wholesale prices but I know I won't be able to go much over $1.75 each clip/headband, because why would the pay more for hair clips they already have cheaper in their store. Do you think it would be worth it? The lady told me the other company sells a ton of clips. What is the best way to price my stuff?

If when I'm done making something and it costs me $1.25 including the display card how much more should I add to at least give myself some credit for the time it take to make it. Should I see how many I can make in an hour?

How do you price your items? If anyone wants to share their list with me I'd really appreciate it.

Sorry so long and I hope it make sense...
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Old 02-11-2010, 02:14
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Default Re: Selling Wholesale Help!! PLEASE!

I'm sure everyone has their own way of pricing, but here's what I do for wholesale:

(Cost of materials + cost of labor) x 40% (profit margin) = wholesale price

For my cost of labor, I would figure how many clips I can make in an hour and divide $10.00 by that number. (I use $10.00/hour because I have a couple of girls I know I can pay $10.00 per hour to make a quality product). That would be the labor cost for that item. I don't always hit the 40% markup on wholesale but that it what I am shooting for pricewise.

I would say be very certain its going to be worth your time to get involved because once you're in and supplying it's very frustrating to realize that you've underpriced and are making very little or no profit (speaking from experience on this one . Hope this helps...good luck!
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Old 02-11-2010, 02:17
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Default Re: Selling Wholesale Help!! PLEASE!

Quote:
Originally Posted by tessielou View Post
I'm sure everyone has their own way of pricing, but here's what I do for wholesale:

(Cost of materials + cost of labor) x 40% (profit margin) = wholesale price

For my cost of labor, I would figure how many clips I can make in an hour and divide $10.00 by that number. (I use $10.00/hour because I have a couple of girls I know I can pay $10.00 per hour to make a quality product). That would be the labor cost for that item. I don't always hit the 40% markup on wholesale but that it what I am shooting for pricewise.

I would say be very certain its going to be worth your time to get involved because once you're in and supplying it's very frustrating to realize that you've underpriced and are making very little or no profit (speaking from experience on this one . Hope this helps...good luck!

Yeah I was thinking 35%-40% profit! I guess I can go in with what I want (maybe a little more in case they want to talk me down) and if they don't like it, any cheaper may not be worth my time.

Thanks for the help
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