Product Pricing Strategy | How to Price Your Products to Make a Profit | Small Business |

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Hello Beautiful People!

Todays video is all about pricing your product and how to find the best price and profit margins. There are many different ways to price a product or service in business. The problem is, most business owners tend to price too low which doesn't allow them the ability to make a profit or scale their business in the future. So in this video, I show you a sample spreadsheet of the math I use to price my products. The pricing in this video is only an example and not my pricing personally for my business. Make sure you are pricing your product according to your business model and what you feel comfortable with.

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I like how this also works backwards too, so if you work out the cost of goods per candle + margin you can see how many you'd need to sell to hit your target

AliHurworth
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Awesome video! Thanks for the information.

ericjohnson
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Thank you so very much! Extremely helpful!

ZionsTreasure
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i need this spreadsheet this is perfect. thank you

jericac
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Thank you for posting this. I love your videos.

jeaniceanderson
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just a question, wouldn’t you want to convert the 45lb to oz then multiply it by the size of your candle? i noticed your formula is equal to 1lb of wax being $3.33 so what if that one candle takes less than 1lb of wax.

baldielocs