Pricing Products
I've had a lot of questions about prices. There are many pricing calculators, but here is some information you should keep in mind when you price items. 1) Different locations and markets will and should have different pricing, especially if you're selling locally. 👉Ex: in NYC, everything cost more than in a small town in NY. Massachusetts minimum wage is $15. Cost of living is more in California than Mississippi. Money has different value depending on where you are. 2) Cheaper does not mean more sales. 👉If something cost $10 one place and $20 another, it might give the impression that the $10 item has lower value or quality compared to the more expensive option. 3) Plan to have sales. 👉Sales are inevitable at some point in your business. Charge enough that you're not cutting into profits when you have a sale. Price a little higher and have a sale - people love seeing a discount and feeling like they're getting a good deal! Do not have items ALWAYS on sale. Sales sho...