Whether you're selling on Shopify, at craft shows, or out of the trunk of your car, pricing matters.
If you don't know your product cost, stop everything right now and go figure that out. I even did the math for you.
I'm serious. That is the one thing that if you do not know, you should not rest until you find this answer.
Determining your cost is tricky, but determining your price shouldn't be.
This handy calculator tool tells you your profit margin depending on your markup. Knowing your profit margin can give you data to know when you're making a wise move in changing your prices, or determining new ones.
I know these numbers are scary but don't ignore them. Just use this tool and plug in your price to see your profit and gross margin. Used in conjunction with our How To Price Your Products guide, you'll be seeing profits in no time.
Did this tool shine a light on your pricing? Let's discuss in the comments.