Minimum percentage of profit on product

[MRizwan530]

A few days ago I made a product which costs me Rs. 50. This product of mine will be sold at medical stores and general stores. I need advice.What should be the minimum price of this product for user?

 

[Kamon c4]

What’s the actual market price of the product if you know it then you can be able to know the price at which your selling but you should make atleast Rs 20 profit from the sale

 

[MRizwan530]

What’s the actual market price of the product if you know it then you can be able to know the price at which your selling but you should make atleast Rs 20 profit from the sale

Yes, you have read my mind. I was also thinking that there should be a profit of at least twenty rupees. Because of this profit, the salesman and the shop rent have to be paid.

 

[Sincerem]

You need to strategically plan your overall profit, because you're the one running your business affairs alone. You ain't sharing your idea with any one, unless you're into joint business initiative. Then your partner(s) should be the only one to determine the average profit the business should make.

 

[Yugocean]

(Product cost + Tax + Transport charge + Profit) x 2 = MRP
Let the seller decide discount.

 

[Naz Noshin]

A few days ago I made a product which costs me Rs. 50. This product of mine will be sold at medical stores and general stores. I need advice.What should be the minimum price of this product for user?

You should not only check the price of things which make the final product .You should also notice time and then you take profit accordingly.
Like if a product cost you Rs 50 but to make that product you spend full day then you should get profit according to time as well.

 

[Goodday]

The profit you should calculate on the product mainly depends on the cost price and the demand for the product too. If you find more customers for the product, you can decide to increase your price by a decent margin and if there are not many customers for the product, you have to be targetting lower profit too.

 

[mizzzlotam]

The market, demand and supply of such products at a particular time will determine the profit to be made. The minimum profit for me should be anything less 20%. Though profit may vary depending on the market.

 

[Shahid Abbas]

A few days ago I made a product which costs me Rs. 50. This product of mine will be sold at medical stores and general stores. I need advice.What should be the minimum price of this product for user?

If you keep more margins in it, then its sales will decrease, so my advice, keep a maximum 10% margin and profit in the product, this will increase your sales and due to this you can get good amount of profit on the daily basis.

 

[Shayo]

Before you set a price for your products, you have to know that whatever the kind of product you sell the price you charge your customers will have an effect on the success of your business.
For this your product, you know the cost price already, so find out need the market price. If the market price is more than your cost price then you have to lower your cost to fit in. profit percentage should be around 20%.

 

[Trexxxy]

I think only can determine what is the right percentage of profit you expect to make. If it is a quality product and you know it is going to sell thousands of items I'd say 15-20rps sounds about right, you might decide to increase if you want.

 

[Erik4150]

It depends on you and your partners. You need to discuss with the store owners and find out how fast the product will sell. If it is a high quality product your percentage should be a lot bigger.

 

[mubinadaddy]

First before determining the profit, you need to know the market price, because knowing the market price will give you çlue on the amount to sell it and the percentage. But getting 100% profit is not bad idea. I the products is good enough it will sell itself even at the percentage of 100%.

 

[kayode10]

You have to add the cost of production, the cost of raw materials, and the cost of labour to the price of the product and alhaji little bit cuz that will cater for all the expenses. at least you should be able to make at 20% profit on every product you sell in your company. Take for instance, if it comes to something like $15 to produce a good there is nothing bad in selling it at $20 or $23. The extra course your ad in cater for some other things and your own profit.

 

[Emma Aneni]

You ain't sharing your idea with any one, unless you're into joint business initiative. I think you need a strategic plan for your overall profits you're the one running your business alone and you know how much you've invested into it and what you aim to achieve.

 

[Briangsam]

This should be completely down to you. You seem to own the business, so after all incurred cost is calculated, the profit margin should then be decided on keeping how important and needful the product is or will be to consumers.

 

[Nurudeen]

There are a whole lots of factors to b considered when calculating the total number of profits to be taken on your business. For example you need to put into consideration the total amount of money on your transportation and some other factors like shop rent and payment of employee

 

[Sariana23]

If the product was made by you, as you describe it, and you also know what you have spent, you must also charge the time of dedication, what we call labor. On one occasion I did a course and the teacher reported that the cost of the final product is the multiplication of the cost of the material by 3. That is, if the product cost Rs. 50, you should sell it for Rs. 150.

 

[Ridorz]

You have to consider a many things before you can place a price on your product. You will need to consider a transportation, your workers salary and the amount of money you are paying for place you are using, all these expenditures need to be considered.

 

[Dylinks]

To start with, profit can't be determined inform of percentage. Profit is determined by the occurrence of the product or service is been sold i.e. turnover in sales. The acceptability of that particular goods and services matter.