Price Right for Peerless Profits
by
Flora M. Brown, Ph.D.
Want to increase your profits?
Price your products right. What are some ways to do this?
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Remember that to make money you must charge more for your designs than you pay for your inventory.
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Many basketeers double their wholesale costs and add 20% for labor. Others just triple or quadruple their total costs.
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Charge for shipping and delivery. If you don't charge your customer for these, guess who's paying for them and thus lowering their profits?
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Set your prices in line with other gifts with high perceived value. It's no secret that customers are willing to pay more for an item on Rodeo Drive than they will for the same item in Downtown.
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Don't undercharge for your skill.
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Raise your prices as your inventory and gas prices increase.
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Don't try to compete with warehouse and discount store prices.You are a custom and gourmet gift provider.
Get more great tips and ideas
on sales and marketing
About the Author
Flora Morris Brown, Ph.D. is a Professor Emeritus at Fullerton College, educational consultant, gift basket expert, writer and professional motivational speaker. From her websites, blogs and newsletters she motivates small business owners and gift retailers with sales-generating ideas, marketing tips, design ideas and business success strategies. She is mother of four and grandmother of three. When she's not traveling she enjoys her home in Anaheim, CA.
