How do I markup something I want to sell?

Question

What percentage do I mark it up in order to make a decent profit...for example Cost of Goods+Labor*markup % = selling price? Do you know what i mean?

Answer 1

The starting point is that the standard retail markup is 100%. If you buy it for one dollar, you sell it for two. The markup for groceries is much lower, and retailers often have a lower markup on other merchandise. If you are selling to retailers, look at the price they are charging for similar merchandise and try selling yours to the retailers for half that. As you gain experience you can adjust your price up or down.

Answer 2

I don't think there's a simple answer for that. In the business I run, our gross profit percentage runs around 37-38%, or a markup of around 62%. But we also have sales of $150,000-$200,000 per month. Thirty seven percent of $175,000 will cover a lot more overhead expenses than thirty seven percent of $10,000.

Answer 3

charge 30% of what u paid for it then add taxes on it so in the end you made 30% profit!