Minimum percentage of profit on product

[Alexandoy]

If you are going into a retailing business - buying products from a wholesaler and selling it by retail - what you should have done is to survey for the prices of the goods that you intend to sell. If you bought that product for Rs. 50 and the stores are selling that for Rs. 50 then you cannot earn a profit anymore. If the stores are selling that for Rs. 70 then you can sell that for Rs. 65 and still earn a profit of Rs. 15. But you can only do that if you know the selling price of the stores.

 

[KvngMurphy]

Often atimes, business owners make a higher margin in some sectors compared to others because of the economic factors of each industry. If you have a product offered for sale, try to first find out what the selling price is in the market in other to guide you set prices for each item. For example, if you are an accountant you could expect margins of 19.8%. If you’re in the foodservice business, you might only see net margins of 3.8% and so on.

 

[Ezzyoj]

A product that cost Rs.50 to produce should have a minimum profit of Rs.20 maximum of Rs.30. Wholesale prices at this range is not bad, have it in mind that you need to keep expanding the brand and also increase the quality of the products. Keep it up