I've got a shop and just wondered if there was a standard mark up percentage that's used. Some suppliers provide an RRP price but some don't so I have to trawl through ebay and other internet sites looking for similar products. Is there a standard percentage to use?
2006-11-14 21:35:06 · 11 answers · asked by Anonymous in Business & Finance ➔ Small Business
There is no hard and fast rule, it varies tremendously by product and sector. A good starting point is to check out your competition, you don't want to discover that you have priced your goods way above your nearest competitor.
2006-11-15 00:10:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
it depends on the cost of the items. Items that cost less than a dollar should have 100 - 150% markup, $1-$5 should prob have a 30-75% markup. Anything over $5 should prob be around 40% on the lower dollar items then around 30% on the upper items until you get into really big ticket items then you can even drop your margin to 20% or even 15%. It's all based on the market you live in and current pricing in other stores and wether you want to make your money on volume or higher margins.
2006-11-14 21:45:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Work out your RRP price markup percentage of different type of goods then take an average and work out if you can afford that or dose it need to go up by 10% etc.
2006-11-14 21:50:00 · answer #3 · answered by toothache 3 · 0⤊ 0⤋
Depends on the product, the demand, and what the market will bear.
We have some items marked up 50%, and some marked up 500%. And anywhere in between.
It is trial and error. Mark it to the highest price you think someone will pay, and if need be reduce it later.
good luck.
2006-11-14 21:38:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It depends on the product, the demand, the cost of the good, the area your shop is in. No less than 10% markup though otherwise its not worth it. Make the most you can ")
2006-11-14 21:39:45 · answer #5 · answered by Rossco 4 · 0⤊ 0⤋
I have been looking to buy Xbox 360s but the mark-up is 8% so I'm looking at other stuff now.
2006-11-14 21:43:30 · answer #6 · answered by Mungo 3 · 0⤊ 0⤋
Lets take Department-stores in general they mark it up 100%( double) after a certain time the mark down begins.
But its up to you what you like to charge, or better what your customers would end up paying.
2006-11-14 21:39:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no more than 30%
2006-11-14 21:38:26 · answer #8 · answered by pythonicbeauty 1 · 0⤊ 0⤋
in the grocery store where i work its around 15 to 25% on grocery items and 8% on cigarettes
2006-11-14 21:47:13 · answer #9 · answered by bshelby2121 6 · 0⤊ 0⤋
Your mark up has to cover all your overheads, it would have helped if you told us your product, but remember, you are in business for profit, not loss.
2006-11-14 22:55:41 · answer #10 · answered by Anonymous · 0⤊ 1⤋