How I Price My Products

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Hi! my name is Evan and I'm super stoked you want to learn more about me!

I show people how to build their businesses. I learn a skill, test it with my own companies and share it!

I got my start by selling CDs at 13 years old. I’ve worked as a fry cook, I’ve mowed lawns, built go-peds, managed restaurants, sold mortgages, worked in Hollywood, and sat at a desk. I’ve cold-called, done graphic design, pounded pavement, traded crypto, and worked on an ambulance.

I finally settled down and devoted my life to becoming a firefighter in my early 20’s. It took me 5 years of training, fire academies, and paramedic school to finally land that job.

I spent 8 years of my life answering 911 calls. Now I get to pursue my real passion, which is building businesses and educating.

My first successful company is called Scorch Marker.

I was building a commemorative plaque for the fire department in my woodshop and desperately wanted to burn our motto “together in, together out” into the wood. So I pulled out my wood-burning tool, plugged it into the wall, and screwed the whole thing up!

But my wife and I had found another way. We created a chemical solution that reacts with heat. We were inspired by YouTube creators! You apply the liquid to wood, apply heat, and the wood burns only where you drew! Pretty cool right? We invented the world’s first wood-burning marker – Scorch Marker.

Little did we know that this was the beginning of something big. We agreed to spend $500 of our savings to see if we could turn the idea into a product. 2 years later and we got into retail, became a bestseller on Amazon, created jobs, and made a lot of mistakes.

It’s the mistakes that are important. Those are the valuable, teachable moments that doers get to enjoy and learn from. They make you stronger.

Building, maintaining, scaling, running, or managing a business is not easy. But it can be done!

That's why I'm here. To teach what I've learned so you don't have to make the same mistakes that I did!

One of the things I feel I was put on this planet for is teaching. I absolutely love connecting with other humans who want to do what I've done, build a DTC company.

That's why I built my personal brand Vanader. I test the things I'm learning with Scorch Marker, make the mistakes, lose the money, succeed then I teach it.

It keeps me sharp, keeps me progressing and most importantly it help me make friends in the space.

Can't wait to hear from you!

Evan

[shunkryan]

Man! Best product pricing info I've ever come across. You're killing it! Thank you👊

[abdulmuneebshakoor]

There's criminally little information out there on pricing e-commerce products, so this was great!

[mbradbury]

Nice! Good video! I’m just putting together a product for e-commerce sale now and was wondering about pricing. Thank you!

[SachaLotus]

I’m not even into e-commerce but loved the information u put out. Great video and explanation 🙌🏼

[andresmoran]

Dios te bendiga por compartir tu experiencia 🙏

[LAH]

Love the transparency! I sadly cannot 5x my COGS price as my competition only COGS by x2 up to x3 😫. How would you price to wholesale? I've been applying 50% profit = $10.44 to wholesale should i charge more?

[pankajsaini]

Vander very nice information.Thank You Very Much.

[fabiangarcia]

Great video. I hope you can help me with something I don't understand. For example if I sell the item on market places where there are fees for everything, should you charge those as cost of labor? Like transaction fee, listing fee, shipping fee, sale fee etc.
Or just treat them as operation cost. Thank you!

[JCKNM]

Hey Evan would you also consider including other things like insurance, energy consumption, etc. in configuring COGS?

[RipperFXLabsAustralia]

Hi, Loving the content you create. Quick question on the profit & shipping. Line #27 on the excel sheet states, Profit must cover shipping to customer. So you have factored in the minimum shipping cost per item, lets say $7.00 per item. So if a customer buys, say x12 items from me or you, they are effectively paying $7 x12 individual shipping costs = $84. These combined items may all cost say $25 to ship together. Would you say your method is only good for a store that sells maybe 1-4 items per transaction and for stores that sell maybe 5+ items on average to price without the shipping cost added? And charge by shipping volume or dead weight? Cheers.

[bananaman]

Why not include the shipping costs to the end customer to calculate profit/ margin ? At the end of the day, when you deduct shippings costs, that's what you bring home before tax isn't it ?

[hellohobro]

Great video Vanader! If my unit of price is $19, 4 times of that is $76. I think that's about $20 more expensive for my protein powder compared to other products on the market.

What do you think is a good profit margin for my product? Maybe about 30%..?

[KatieLovett-ph]

should 80% margin be for retail and wholesale?