Posts Tagged ‘wholesale pricing’
Im Brenda from Phydelle and Phydeaux Designs, back with this weeks edition of Craft Venture! We talked last week about debriefing from your holiday season - identifying lessons to learn and new opportunities, as part of our January series on cleaning up and making over our online shops. Let's revisit pricing this week - January is the perfect time to recalculate your prices, particularly if you're introducing new designs and new lines!
We talked about pricing recently. Is it too soon to think about pricing again? No! As a small business owner, you should always be thinking about your pricing structure and strategy! Your expenses constantly fluctuate - revisiting your prices a few times a year will help you make sure you're not unintentionally losing money.
Also, after the holidays, retailers are looking for brand new goods and designs. What better time to revisit your wholesale pricing, while you spruce up your shop and introduce new goods?
Welcome to Craft Venture "“ business and marketing tips for indie online business owners. Like me! Im Brenda, owner of Phydeaux Designs on Etsy1000 Markets, and Phydelle Designs on Etsy. Last week, we talked about considering what the market will bear when you are pricing your products or services, as part of our discussion about pricing "“ perhaps the most challenging part of owning your own business. and
Hopefully, you've read our whole series on pricing your products and/or services, and perhaps you've even worked on your own pricing as a result! As you know or have learned, pricing is both very simple and incredibly complex. Cover your costs, build in a wage, make sure you have a profit margin.
What about wholesale pricing?
Ah yes, the dual edged sword: wholesaling. Has your heart gone pitter patter when you read an email from a potential wholesale customer, only to go floppity flop when you realize that wholesale prices are significantly lower than your own retail price? Before we dig into wholesale pricing, maybe we should back up and talk about what wholesaling is?