Help required trying to work out trade prices?

Discussion in 'Growing and Managing a Business' started by MrV, Mar 3, 2014.

  1. MrV

    MrV
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    Hi everyone,

    Ive recently launched my business selling specialist imported aquarium wood, I have some shops interested in selling my product but as this is all new to me I havent a clue regarding how trade prices are worked out? in my case, as my product is a niche and hard to source, I have the luxury of creating my own retail pricing, would this rule still apply to trade? basically guess the price?

    Many thanks, Ben
     
  2. RoseAb

    RoseAb
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    Some people use a fancy formula to figure out pricing but many think that is not the way to do it. I think that it is mostly guess.
    Although you have niche product, if it is too high priced, they might not even try it.
    So you might have to consider your competition's prices.
    I'm not an expert at pricing so you might find many other good suggestions.
    Possibly even your retailers would suggest a price range for you, because they might have a good idea what will sell in their store.
     

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