The price of your product is a matter of ability. The right price for your product determines the success of your company. For wholesale prices, you need to highlight the fixed costs, variable costs, and market value of your product.
The right price for your product seems affordable to your customers, while at the same time covering the production costs incurred to give you a profit margin. You can get more information from https://www.turbopiranha.com/amazon-seller-fees-for-fba-and-fbm/.
· Estimated total production costs: This includes the costs of purchasing raw materials, transportation, production, fees or additional costs, office equipment, storage costs, licenses, insurance, and more.
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After calculation, divide the total cost by the total number of products you made. This shows the price of each product. Remember that labor costs are not included in production costs.
· You need to determine a reasonable profit margin: You will develop this skill through trial and error. Many wholesalers double the price of their impartiality. This offers a 100 percent profit.
This means that you bear every dollar you invest in making goods and that you also get the same amount. However, this trick might not work if your competition charges a lower price than you. Analyze every detail, including the market scenario, before setting prices.
Before you set a wholesale price for your product, remember that retailers want the best quality at the lowest price.