How To Price Your Products

A common mistake that most seller's do - finding the average and picking something in the middle
The correct way to do it
Step 1: Find the cost of production for your product (that does not include shipping)
Step 2: Multiply your costs x5 - Aim for 80% margins or better: They allow you to cover your overhead and expenses
It's a crucial step—don't take it lightly.
Need guidance? DM me the word "profit" and ill send you my calculator

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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!

Can't wait to hear from you!

Evan

[hermes.]

Actually, you should use market prices as a benchmark, and then you can measure your production cost and make the calculation. If you do it the other way around, you might end up with a high production cost and with a higher selling price than the category average, which will make it very difficult to sell your product. There are several financial trainings that talk about that.

[neilk]

Build the best product you can, believe in your product, you can charge as much as you like if it’s that good.

[mutatedllama]

If you can't sell your product without paying for shipping then shipping should be included. That's super basic.

[josiah]

How do you go about wholesaling your product ?

[chuym]

I really want to believe that stache!!

[ArtursBondars]

My product profit margin 600-1000% a basic thing for 3D printed and nicely finished stuff. Dont know if i need to lower it.

[ArizeOW]

So I should sell a T-Shirt that is priced at 8.50 5 times the amount making it 42.50? For a T-Shirt? No one is buying that.

[rawa]

5X is crazy to be honest. When I am trying to add 20% to the cost, it feels like ripoff

[XxmidnightchrisxX]

As a teen in marketing class this is helpful thanks

[dimplepwr]

5x multiplier on costs of goods is only if the market will support it 😅 Most retail spaces only support 2x multiplier. What are you currently selling that is 5x the cost of goods?

[wolfrig]

This is wrong. You need to use the Ferengi rules of acquisition.

[MarketingBusinessEconomics]

This is not right. The correct way to price is based on what the customer is willing to pay for it. Leave some value on the table for the customer to keep coming back.

[james-hannahbanana]

Im an inventor with products . I have one product im almost ready to build and ive never sold or presented any product yet to anyone. Davis invention company is a bad company and stole my money which Im battling for currently. I need help to market this 1 product for the farming industry then 2 more inventions will help as well.