How do I determine what markup should be on the final selling price?
I own a local online store and I am working on fixing my pricing calculations.
I want to know how to determine how much markup I should be putting on the final selling price, taking into consideration that I sell various items, nothing in specific.
I have monthly costs and yearly costs, if it helps, I could provide the costs to get the exact formula.
Thank you in advance,
If you provide more information on your store and the type of items you sell, you might attract a more pinpointed response from an expert! I know you mentioned that you do not sell specific items, however, maybe providing some examples of items and/or your top sold items might help us understand better. The more information, the better.
In the meantime, I found a previous thread regarding the strategy behind markups on sale prices:
Even though this particular thread is specific to book sales, I think some of the strategies mentioned could be helpful to you.