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Pricing: Always an issue.

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Old January 16th, 2010, 11:38 AM   #1 (permalink)
reddog88 reddog88 is offline
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Default Pricing: Always an issue.

Keep in mind, I'm a rookie here.

Pricing:

Give me your thoughts.

Double the item wholesale price, plus 25%, and add the embroidery cost at $7 per 5k stitches, is one formula I've been told of.

Small amount of overhead to begin with here.

Is this feasible?
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Old January 16th, 2010, 02:26 PM   #2 (permalink)
Eric Eric is offline
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Default Re: Pricing: Always an issue.

Generally not bad ... but $7 per 5K is WAY expensive for embroidrey, typically you should never go over $1 per K
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Old January 16th, 2010, 10:44 PM   #3 (permalink)
SunEmbroidery SunEmbroidery is offline
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Default Re: Pricing: Always an issue.

When setting pricing consider your location and who you market too. If you are located in a wealthy neighborhood and you sell niche type items that are in demand then raise your prices. If you sell basically the same products as your competitors and you are located in an area where people price shop then you'll need to be be competively priced unless you have some other type of "draw" such as free delivery or quick turnover that gives you an advantage over your established competitors.
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Old January 17th, 2010, 12:32 PM   #4 (permalink)
reddog88 reddog88 is offline
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Default Re: Pricing: Always an issue.

Thanks. $7 seemed a little high, but, that was their advice.

Like Jennifer said, as we come to understand our market, we'll work it out. It's easier to start lower and raise it, than to start high, lose business because you're too high and not know it, and then lower it, as you've already run off some potential customers.

Our overhead will be lower, as we have no shop to rent as of now.

A rookie thanks you.
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