Hi everyone, aside of cost price and time, is there anything else to consider when pricing items in my shop? Any ideas/ thoughts greatly appreciated. Thank you. Matt.
Hidden costs that need to be factored in include
folksy/ paypal fees (these work out at about 10%)
the time taken to photograph item /write listing/ promote item
packaging costs /time taken to go to the post office
a profit margin.
If you are planning on selling items via shops then you would need to consider if you have sufficient margins to cope with their larger commission or whole sale prices. This blog post should help you.
Thank you Sasha. That is a great help and I had thought of few of those points. I do feel like… well going by those points I am definitely underselling my product by some way! However, I don’t want to not sell anything !!! I suppose we all have that problem! Thanks again. Matt.