Prodigal Ponderings — pricing RSS

The Pricing Dilemma: How Do You Price Your Products?

For new business owners there is perhaps no greater challenge than pricing  products for sale. My wife and I ponder this each time I complete a new product. Based upon a thousand different factors we each arrive at a figure and then we yield to one another to determine a final price. What are the factors? 1. Data alone (materials, equipment, supplies) : how much did the wood cost? What about the glue? The clamps? How about the table saw and miter saw; and the saw blades on each? The more equipment we own the less time it takes to make a product, and the better the product will turn out; but how do you price this out? 2. Governmental cost (keepin it...

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