{"id":18174,"date":"2019-07-31T09:01:03","date_gmt":"2019-07-31T16:01:03","guid":{"rendered":"https:\/\/www.websitebuilderexpert.com\/?p=18174"},"modified":"2025-01-20T16:37:09","modified_gmt":"2025-01-20T16:37:09","slug":"how-to-price-a-product","status":"publish","type":"post","link":"https:\/\/www.websitebuilderexpert.com\/ecommerce-website-builders\/how-to-price-a-product\/","title":{"rendered":"How To Price a Product: Our Guide To Kickstart Your Profits"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text css=””]So, you’re all set up and ready to start selling with an ecommerce website builder<\/a>, but you’re not sure how to price your products. It’s a common concern that almost every small business owner faces at the start – myself included! Ask too much, and your customers will go straight to your competitors. Ask too little, and nobody will take you seriously. Then there’s the issue of profits, markups, and margins – how do you calculate the selling price of a product to cover all your overheads?<\/p>\n

I’m here to help. My guide will walk you through five steps to nail your product pricing, from the costs you need to identify to some psychology-backed pricing tips to give you a headstart over the competition. Let’s get started![\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column]\n

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\n \n 1. Decide Your Pricing Strategy <\/h2>\n\n <\/div>\n\n <\/header>\n\n \n\n [vc_column_text css=””]There are a plethora of methods you can use to finalize your product cost. In this guide, I’ll show you how to price a product using the most beginner friendly method: cost-plus pricing.<\/strong><\/section><\/p>\n

You simply need to select a percentage profit that you would like to make and add it to the price after cost:[\/vc_column_text]\n<\/p>

\n \n \n Final product price = cost of product + percentage profit required <\/strong><\/div>\n[vc_column_text css=””]For example, let’s assume your product costs $10 <\/strong>to make and you want to make 25%<\/strong> profit on each product you sell:\n

$10 (cost) + $2.50 (25% profit) = $12.50 (product price)<\/strong><\/p>\n

This is a great approach to start out with, especially if your costs are fairly easy to calculate and don’t fluctuate. This said, it won’t be the right strategy for every business, so it’s good to look into alternatives – more on that later!<\/p>\n

Read on to find out how to price a product with the cost-plus strategy!<\/strong>[\/vc_column_text]\n