Pricing

[Eshields1014]

ok so what do you suggest when i run out of oil but i still have a little bit left of all the other ingredients, buy more oil untill more of the other ingredients run out like 2 or 3 of them run out then price from there?

And I did your math problem you gave me teacher, can you check my work to make sure that i did it right? please & thanks

Treats- $20.00(cost for all ingredients) /203(total made)= $0.09 a treat

Label package cost $10.00/ 200 labels in a package= $0.05 a label

Bags 25.41/ 100 bags= .25 a bag

Add it all together... bag .25+label .05+treat .09x 25 treats per bag= 25 treats= 2.25

2.25x4 mark up =9.00

is that right? did i do anything wrong??

[robert]

yeah, thats right. If you think that markup is enough. Markup is your choice. You have to use your judgement with it. If your prices are higher than your competitors, you might want to decrease the markup, or vise versa if your prices are lower. Its up to you.

As far as running out of ingredients. There is a complex math problem that can be used for that, but I won't even try to explain that right now, lol. Plus, a lot more info would be needed.

The best way to do it, is just error on the higher side, so you at least know you aren't losing money, ya know.

How does a $9 bag of 25 treats compare to your competitors?

[Eshields1014]

oh as far as the weight thing i was talking about i will weight a say..25 treats say they a pound i will way the big treats untill i get to a pound say that 5 of the big ones way 1 pound that way i can sell them for the same price...get it?

[robert]

Originally Posted by Eshields1014

oh as far as the weight thing i was talking about i will weight a say..25 treats say they a pound i will way the big treats untill i get to a pound say that 5 of the big ones way 1 pound that way i can sell them for the same price...get it?

ok, that makes sense.

How do those prices compare to your competitors?

[Eshields1014]

Originally Posted by robert

yeah, thats right. If you think that markup is enough. Markup is your choice. You have to use your judgement with it. If your prices are higher than your competitors, you might want to decrease the markup, or vise versa if your prices are lower. Its up to you.

As far as running out of ingredients. There is a complex math problem that can be used for that, but I won't even try to explain that right now, lol. Plus, a lot more info would be needed.

The best way to do it, is just error on the higher side, so you at least know you aren't losing money, ya know.

How does a $9 bag of 25 treats compare to your competitors?

i dont remember how it comepares but i did the math at X3 and its 6.75 a bag.,,, most of the other people do by the pound so how can i figure out how my prices compare?

[robert]

Originally Posted by Eshields1014

i dont remember how it comepares but i did the math at X3 and its 6.75 a bag.,,, most of the other people do by the pound so how can i figure out how my prices compare?

either find out how many treats are in their pound or figure out how much yours weight and then compare it.

[Eshields1014]

Originally Posted by robert

either find out how many treats are in their pound or figure out how much yours weight and then compare it.

haha i new that

[Eshields1014]

So you think I got everything i need to know and im good to go?

[robert]

no, not at all. BUT it appears that you know enough to move forward. You will always be learning more and more as time goes on, and better ways to do things, and what-not.

[Eshields1014]

Originally Posted by robert

no, not at all. BUT it appears that you know enough to move forward. You will always be learning more and more as time goes on, and better ways to do things, and what-not.

well i ment do you think that i know enough to do the pricing on my own now that i understand it...I know there is tons more from here other than that ugh lol