How much is your markup cost?

[nomad]

Mark-up cost is the profit margin you add to your cost price. For instance, if your cost price is $10 and your selling price is $20, $10 is your markup cost. Generally speaking, I add 10-20 percent mark up cost. If you add a higher markup cost, generating sales will be harder.

 

[Bisolami]

Mark-up cost is the profit margin you add to your cost price. For instance, if your cost price is $10 and your selling price is $20, $10 is your markup cost. Generally speaking, I add 10-20 percent markup cost. If you add a higher markup cost, generating sales will be harder.

I don't have a business for now so I don't have a markup cost. Well, I don't like if the markup cost is too much

 

[hastral45]

Mark-up cost is the profit margin you add to your cost price. For instance, if your cost price is $10 and your selling price is $20, $10 is your markup cost. Generally speaking, I add 10-20 percent mark up cost. If you add a higher markup cost, generating sales will be harder.

Is it proper to add double of cost price as the mark up?. I know there are things considered before arriving at reasonable mark ups.

 

[Niyi Briggs]

It depends on the kind of product. There are products that you add 100% markup cost and still sell out stress free.

 

[Suba]

If the cost price is $10, and the selling price is $20, the profit is $10. and you determine the addition is not 10-20% but 100% of the cost price, or 50% of the selling price.

 

[Shavkat]

I do agree that we need to markuo products at least 10% or 20%. It is how we are going to gain profit. Although the pricing will still depends from one company to another.

 

[hastral45]

There are things you will take into account before arriving into your mark up. Your consider the production cost,, miscellaneous cost like logistic and finally expected profits.

 

[Chibson]

It depends on the kind of product. There are products that you add 100% markup cost and still sell out stress free.

I think the demand of such product is what really matters. If the demand of such product is high then you can add big mark-up cost.

 

[Bisolami]

Is it proper to add double of cost price as the mark up?. I know there are things considered before arriving at reasonable mark ups.

I don't think it is proper. The seller should think about the buyers. Doubling the price of your markup fee will just make your goods too expensive and people won't buy from you.

 

[Chibson]

I don't think it is proper. The seller should think about the buyers. Doubling the price of your markup fee will just make your goods too expensive and people won't buy from you.

Like i have stated, if the demand for such a product is high adding a mark up cost may actually not affect how much of it you sell. So it depends on the demand and supply.

 

[Bisolami]

Like i have stated, if the demand for such a product is high adding a mark up cost may actually not affect how much of it you sell. So it depends on the demand and supply.

You're right
Some products always have a very high demand so they will surely flourish.

 

[Stardom22]

I personally don't do make up. Therefore I don't have the budget for it. I don't have any idea about the cost for it though.

 

[Bisolami]

I personally don't do make up. Therefore I don't have the budget for it. I don't have any idea about the cost for it though.

No that is not what he is talking about.
He is talking about the markup cost

 

[Chibson]

You're right
Some products always have a very high demand so they will surely flourish.

Yeah, an essential product will always sell no matter the circumstances. People will always demand it because they have no much alternatives.

 

[Bisolami]

Yeah, an essential product will always sell no matter the circumstances. People will always demand it because they have no much alternatives.

Sure
This is because the people needs those products and they must buy them.

 

[Reedex]

The mark-up cost should be a thing that must be calculated and must be reasonable.

 

[Heatman]

Mark-up cost is the profit margin you add to your cost price. For instance, if your cost price is $10 and your selling price is $20, $10 is your markup cost. Generally speaking, I add 10-20 percent mark up cost. If you add a higher markup cost, generating sales will be harder.

With the high level of competitive market we have here in my country, I try as much as possible to cut down my markup to 5-10%.

 

[SHAHID987]

I usually charge 20% markup the product which I sell to my customers because less than this will not give me any particular profit in my that particular commodity.

 

[eldavis]

I do not really have a specific price or percentage though. It mainly depends on the customer i am dealing with. There are some i just add as little as five hundred naira while there are others i do add more than that.

 

[Bisolami]

I do not really have a specific price or percentage though. It mainly depends on the customer i am dealing with. There are some i just add as little as five hundred naira while there are others i do add more than that.

Well that is another point
Some customers can pay more money than some other ones.