Thank you so much for sharing! I took notes and I'm going to use this my own business that I'm starting. You explained everything so well and I love that you used the white board. I'm definitely a visual learner. I'm so excited to start!
Thank you for producing this video. I love this concept, so if you just wanted to markup 75%, you would take your base X .75= 2.76, add that to the base of 3.68 + 2.76 = 6.44 or 6.45, correct?
Yes. It’s so many different wording and formulas out there, this is just the one I find to be easiest to follow. But yes, cost / value are essentially the same thing.
So , most profit margins are between 5,10,20%. Decide that number , then multiply it by your revenue to get the profit you will earn per product . If the profit margin was 10%, my profit would’ve been $0.36 per scrunchie
Hey girl heyyy 💕 comment below if you’re still interested in part 3 about product pricing !
Hello! I'm interested in part 3
I’m interested! Thank you!
part 3 please 😊
Yes 🙌🏻❤
I'd definitely like to see a 3rd part to this
Thank you so much for sharing! I took notes and I'm going to use this my own business that I'm starting. You explained everything so well and I love that you used the white board. I'm definitely a visual learner. I'm so excited to start!
Thank you so much for all the wonderful and much needed information. Looking forward to Part 3 video!!!
Thank you for producing this video. I love this concept, so if you just wanted to markup 75%, you would take your base X .75= 2.76, add that to the base of 3.68 + 2.76 = 6.44 or 6.45, correct?
Hey friend I’m so excited to watch
Thanks for watching friend !
Thank you for sharing!!
Hey, can this step be use in lip gloss business?
Your videos are awesome tank you❤
Thank you for sharing ❤
Thank you ❤
Hello great video. I need to see and hear this.
Where did you get the 0.55 for overhead expense?
❤❤❤❤
I am all the way invested. If say for example, I wanted to raise to 10% profit margin, how do I do that? Can you answer in part 3, please?
I sure will! Thank you so much for watching ☺️
Could you create an excel calculator for this??
Absolutely ! I’m not very great at excel but if I figure that out I’ll be sure to link it 😌👏🏽
@@SlayTheReneeWay I hear you! I'm still trying to figure out how to input formulas ha ha. But when you do, I know we'd be sooo grateful!
@@SlayTheReneeWayyes PLEEEEEEEASE!
I seen where they said the cost is also associated with the value
Yes. It’s so many different wording and formulas out there, this is just the one I find to be easiest to follow. But yes, cost / value are essentially the same thing.
What would be considered overhead expenses? And how did you determine that it was $0.55?
Packages, tape, paper, electricity...
@@africansister thank you
How did you get the $312 per month
Just emailed 📧 you
Wait, how'd you get the $0.18?? 😅
I decided the profit margin is going to be 5%. The revenue we earned was $3.68, multiply that by 5% you get $0.18. I hope that made sense lol
So , most profit margins are between 5,10,20%. Decide that number , then multiply it by your revenue to get the profit you will earn per product . If the profit margin was 10%, my profit would’ve been $0.36 per scrunchie
Great question by the way, I wasn’t very clear I see that now lol
@@SlayTheReneeWay Ohhh ok! Thank you for this explanation. I really appreciate it!
@letitslime1653 no problem!