Pricing Formula Guide

Ready to launch your great idea. all is in place but you have no idea how to set your pricing?

Been there! here is a solid formula to follow to get the most strategic pricing for your biz.

Materials

Add up all the costs of your supplies. You can divide the cost of bulk supplies by the amount of products it makes.

Labour

How many hours does it take for you to make your product? Times that number by how much you want to earn in an hour. Make sure it is at market rate.

Expenses

This includes electricity, monthly fees for your shop etc. Work out the monthly cost and divide by the number of products you can make in the month.

Profit

Add on a little extra. The will allow you to have money to save or re-invest into your business. It will also allow room for a wholesale price without cutting in your labour costs.

= Cost of Product