HOW TO PRICE YOUR PRODUCTS TO ENSURE PROFIT | ONLINE BUSINESS PRICING STRATEGY

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If you've been guessing the price for your products, this video is FOR YOU! It's time to understand how to price your products to match your brand and put money in your pocket! Watch the full video for details on my free mini class.
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[@TheBrandHustler]

How do you come up with the prices for your products? *Comment Below.*

[@oluwadare12]

I normally price my product according to what I paid for it upfront, then look at its perceived value and try to meet somewhere in the middle a little lower than my competitors. My idea profit would be to make back what I paid for the product, and have enough left over to go toward another restock other merchandise. Now I'm pressing play to see what you say. Lol Teach me the game sis!

[@TheBrandHustler]

How do you feel after watching the video?

[@TheBrandHustler]

Yes press play and let me know how you feel after watching lol

[@MadameEclat]

I do: Cost of total products i ordered from manufacturer = $179.88 ($14.99 x 12 shoes) then I add on my shipping cost for those products to get to me which brings it up to $231.70. Then I take $231.70 ÷ the 12 shoes I ordered -> 12 and that gets me to $19.50 I take that $19.50 × 200% = 39. This $39 is my MINIMUM sale price if I give a discount code or if I need to get rid of inventory. But at least I will get what I paid for back instead of losing $$ then I take my $39 × 2 = $78! $78 is the price of my item. However, i I did not consider including my seller fees.

[@oluwadare12]

The Brand Hustler The Brand Hustler Aww you’re amazing!! That was such a great surprise that you actually had a spreadsheet for us to download. I am smiling from ear to ear cannot wait to put this to use. You actually gave me so many great ideas, and I had never heard of the times two method, but I agree with you that that doesn’t always work when you look at the cost and time it takes you to buy, prepare, promote, sell, and ship your product. You are a godsend I truly look forward to your videos I am always hawking this station LOL👏🏾 keep up the amazing work! The 4 C’s in addition to your tips is my new way moving forward, thank you so much!

[@swanzieb7631]

I take what I paid for the product (including shipping) and multiply it 3.5. So if I bought 30 products for $20 and shipping was $5, I’ll divide 30 by the 25 to see what I paid for each item which is $1.20. I’ll multiply that $1.20 by 3.5 and get $4.20 and then I’ll most likely round it up to $5

[@Dzire.thedoll]

My business will launch 2021. I don’t have a pricing strategy yet, that’s why I’m here sis... show me the waaaaaayyyyyy 🤞🏾💞

[@Dzire.thedoll]

Update since finishing the the video:: so my thoughts on how I wanted to price my products are exactly how you mentioned which makes me feel more comfortable in how I came up with the prices! I’m super excited and now have the full confidence because I have a professional basically backing up my thought process!.. thank you so much! Continuing to go through allll of your videos ☺️

[@reginaweems6563]

My business will launch 2021 as well. Good luck and blessings Queen !!!

[@naturallygifted2002]

@@reginaweems6563 blessing to you

[@lyzonkosi5064]

Did y'all launch

[@Dzire.thedoll]

@@lyzonkosi5064 yes! MobWithMinks is up and running successfully 🥰🥰

[@lavenderjohnson3876]

This aspect has to be the hardest for me because, since I am a new entrepreneur I don’t want to come off as too pricy. But, I also do not want to sell my self short, I am highly aware of my talent and so are my locals who encouraged me to create a business in the first place. So idk! 😭 Let me just finish watching the video. 😂

[@bosstravels3625¹]

I feel this way as well. But I know one thing if they want it they will buy it. Get your coins.

[@kelaroberson]

same

[@kieraglenn4509]

I’m so happy I found you! You answered every question I had! Definitely using all of your tips!

[@beautybrainsboutique1317]

I set prices for double what i paid plus $3-$4 more for packaging and 1/2 of shipping. So say i have a $10 bag, i will charge $23-$24 and shipping will be around $3.

[@ambersanders5746]

I like this strategy..

[@theresawest1754]

I’m just starting up my business so I’ve been listening to other people strategies and winging out what I feel will best help me and your video definitely has helped thank you 😊

[@oluwadare12]

Thank you for dropping a new video Shanell I love your content!! I'm watching the video now!

[@TheBrandHustler]

Yay! Thank you!

[@TheeSupreme333]

💛💛💛I’m tuned in!

[@petrasuniverse9457]

I do not have a pricing strategy selected just yet, but I have done some research and did a "Rough" practice if you will. I am so excited to have come across one of your videos that lead me to this one. This journey is so new and exciting.

[@luvbak21]

Thanks for this very informative video and for supporting other businesses! ❤️ Incorporating seller fess was genius

[@melanygarcia2057]

I fully live off my business selling makeup and my rule is usually multiplying the cost of the product by three as the minimum price I can sell it for. For example if I get something for a dollar the minimum amount I sell it for is $3 one dollar for my money back one dollar for the bills of my location and one dollar for profit.

[@ahmadkashaun5137]

I then watched a thousand videos on this topic. You explained all of this so well! Thank you!!

[@nylagilmorebey4812]

Thanks so much for this helpful video! I didn’t have a pricing strategy before I watched this

[@TheParrine]

I’m just starting that’s why I been watching your videos for help.

[@april_delor]

This was so informative!!! Thank you!! I appreciate your videos so much!! ❤️

[@TheBrandHustler]

You are so welcome!

[@brieboo101]

I love the advice about including shipping into the products price already!

[@TheBrandHustler]

So glad to hear that!

[@sisyrevamuhammad]

Thank you for this informative video. Just getting started with an art gallery store of my work and some products. Had some idea how to price my art but no idea how to price items from that work. This was a big help. Love your videos, very clear and to the point.

[@TheBrandHustler]

Yayyy 🥰❣️! I am so glad to hear my videos have been helpful to you . I hope you were able to discover the pricing for your art work and products. I am wishing you much success in all that you do !

[@vanessaperalta20]

You are so great at explaining this and informing us newbies. Thanks for doing you! ☺️

[@TheBrandHustler]

You’re welcome 🥰

[@JustLoui45]

You have been so generous with your offerings, thank you. So glad I found your page :)

[@TheBrandHustler]

You are so welcome! Thank you for your support❤️.

[@EllarayneRoe]

Thank you so much I love all your videos but this one I have to replay more than once to really take in the information because this step is VERY important!

[@TheBrandHustler]

Thank you so much for you support !! I am wishing you much success in all that you do 🙏🏾❤️.

[@EmpoweredByGod-egIL]

Absolute Value without the Fluff! Thank you! 💪🏾💯

[@TheBrandHustler]

My pleasure!!

[@allsber]

I've analyzed the market, from the cheapest to the most expansive and compare quality to my product to decide what kind of price would be suitable for my product. Then I calculate product cost, shipping cost, sales taxes, VAT and what I would be left with in the end. And I have found out that it work for me to caculate the whole sale product + shipping cost times 6 and that is the selling price (including 25% VAT and 40% sales taxes) I'm in Scandinavia

[@Minnettescandlesandessentials]

I was using the x2 method but will be doing some changing!! Thank u!

[@michaeljenson5739]

I really enjoy wanting your videos and learning a lot for a newbie, thanks for sharing

[@TheBrandHustler]

Glad you like them! I hope they have proved to be beneficial to you on your journey of entrepreneurship 🙏🏾❤️.

[@sarahroughface7024]

THANK YOU 💗

[@yanalambrechts5348]

I'm starting my own beautysalon + online boutique in january 2021, i'm watching all your videos on replay! Girl you're bomb 🤍✨

[@TheBrandHustler]

Thank you so much🥰 ! Congratulations on launching your Business 🎉💞! How did the launch of you online boutique and Beauty Salon go ?

[@luvangel8503]

Here to learn. Gathering information so I can go into this business with Confidence

[@kenayako135]

No pricing budget at all lol excited to see the rest of the video ☺️ ready to learn some and get my pricing started on a better scale

[@sharisewooten3721]

This was great! My plan was to just make sure I made profit of just my purchase of product. But thanks to you for all the great insights I will be adjusting my numbers a little more in depth for a profit. Thanks

[@TheBrandHustler]

Yayyy🥳🎉!! Glad to have been of help !

[@marcennadavenport3416]

This is my 5th of your that I have watched! Hope you will do a podcast??!!

[@Mskiaraimani]

Just found your channel today thank you so much for all of this insight😫couldn’t find this info anywhere else ♥️

[@TheBrandHustler]

I'm glad I could help !

[@cynthiajenkins2317]

I love that you promoted Juanita Brown's product AWESOME!!!!!!! You will be continually BLESSED!!!!

[@TheBrandHustler]

❤️❤️❤️

[@eboniedasilva7004]

I don’t have a pricing strategy at the moment, I’m here to learn how to price my product. Thank You for this information

[@indiabrown9233]

Hello thanks so much for the tea very informative knowledge is power thanks for teaching me.

[@TheBrandHustler]

You are so welcome India ! Thank you for your support !

[@Yourgirlmomo]

Found this video at perfect time! In process of getting ready to launch my business and was unsure of what prices I should use

[@TheBrandHustler]

Hey Hustle Babe🥰 ! How did your Launch day go ? Are you happy with your price points ?

[@kaycee6036]

Most people are visual, and would like or expect to see to see step by step on how to price their product especially just starting off. Please consider doing a video showing how to come up with pricing using formulas, etc. That would greatly help.

[@anizacalvillo6159]

I’m still working on everything and my plan was to add the pricing of the ingredients together and divide that by how many units the products can make and that’s my pricing for each product

[@jesssheppard7658]

I have not created a price strategy yet aside from keeping track of all costs up to now in a spreadsheet. Starting here :)

[@prilala1739]

I never knew where to start with pricing so I am here today learning how to price my products before I even bring my business back up fully.💗

[@TheBrandHustler]

You got this!

[@bisharahassan5205]

I don’t have a pricing strategy yet. But I want to learning before i start my business

[@drgraham1295]

This was great info. I was just doubling the price of my product. I was not considering all the other factors. Thank you for sharing.

[@TheBrandHustler]

Thank you so much for watching ! I'm glad you enjoyed it ❤️.

[@aquariangyrl2295]

Very helpful.. Big up yuhself!!!

[@Itscarmenjoanna]

I don’t have a pricing strategy yet, just learning before I start my business💜

[@tracisoncasarrubias8358]

I used the suggested pricing from the platform I use to make my shirts.

[@HalimaLove]

I was about to play the guessing game but then i decided to get serious so thats why im here ! teach me sis

[@ichiree_beauty]

Thank you so much! ✨

[@TheBrandHustler]

Any time!

[@LL-ex1gp]

Great video, there are so many shops on Etsy who price wayyyy too low.

[@jaeling625]

I typically add my product orginal price ,all my shipping items like what they ship in I will divide that into how many I got and freight to determined my price.

[@pershkwacha]

Your building me each day , thanks 😊

[@TheBrandHustler]

Keep it up, you got this 💪🏾!

[@ASHASTORMTV]

I'm so happy I found you right before I launch

[@deletedbyebye975]

Real shit 🥂

[@wedebdesira3936]

Thank you

[@pocabeautyco897]

That was so helpful.

[@TheBrandHustler]

Glad you think so!

[@rpink_179]

My strategy: Count up how much to make the product, round up or down (round it), try to add at least 50% profit

[@iamhida493]

I’m sorry could you go more into detail? I’m a beginner myself 🥴

[@kjayview2]

Great video!!! I was wondering do you also have a video on how to price a "service" business (eg., instruction/tutoring, web design, etc.)? If so, please let me know the name of the video on your channel...would love to see it!!! Thanks!!!

[@pushpakumaara4619]

Thank u somuch...

[@geadonnamoore2719]

I'm using what I just learned from you to price my products when I do actually have them to sell to customers.

[@TheBrandHustler]

Blessings ! I'm glad to be of help !!

[@altheaprass]

Ty, very helpful

[@TheBrandHustler]

You’re welcome ☺️

[@por-tiawilsonrodrigues8906]

You just eliminated the feeling of being overwhelmed. You were talking about me when you mentioned packaging...It has to be cute...lol But I want to make a profit. I also have a fear that people will not want to purchase my products because of the price. This just made me feel so much better about things. Thank you.

[@TheBrandHustler]

Hi Por-tia ! I am so happy to hear that I was able to help alleviate some of your stress ! I hope that you were able to apply these tips towards your business !

[@ClassieeCookiee]

I do not have a pricing for my business as of yet, I am still in the beginning steps. I will be using the times 2-10 method

[@naaatalienow]

Loved the part where you opened a packaged to showcase a small business that sent you a product 💕

[@ladydaynae6569]

I don't have one yet but after this video i definitely will!!

[@spoileddiva313]

I price up times 3. I add everything including all fees for me to get the item and then do the markup. Gives me wiggle room for sales.

[@LuckyyLEVEN]

How did you determine to do it by 3 ?

[@iamhida493]

Can you go a little more into detail? I’m still a beginner

[@bosstravels3625¹]

Thanks I needed that information.

[@deletedbyebye975]

I don't have a strategy yet but ready to take notes 🥂

[@juanisharene]

I don't have a strategy, I know ill gain some knowledge watching this video lol!

[@Gloriaid21]

I don’t have a pricing plan. Thank you for doing this video. ❤️

[@TheBrandHustler]

You’re welcome 😊

[@summer21sthandmade]

I’m so lost and uncomfortable when it comes to pricing. Especially because I have some products that I may have spent $1 for, but the product looks like it could sell for at least $15... so obviously I wouldn’t want to just sell it for $3 (because I hear most people say flip the purchase price 3 times) I’m just lost... ok back to your video!!!! Thanks for all your help and advice in advance!!!

[@shelahjackson-daley2288]

I was doing just like you said sometimes giving a price a time of purchase… but I want to just have my prices in place and consistently

[@jahjahbanks7491]

U are teaching me what to formulate

[@aliciaa1589]

I don't have a pricing strategy, but I am happy to determine an ideal strategy for my brand by learning from you.

[@TheBrandHustler]

Did this video help you find your price points for your Business?

[@sylviatv7235]

Love your explanation. And i price my items x5

[@adaezekwelu7727]

Won't it be more expensive than the standard price? If coke is $2 and you sell at $10 ,won't you have a very low turnover?

[@dannisewarrick6195]

I googled boutique pricing and found that double was the standard 🤷🏾‍♀️ but I wanted more profit 😩

[@edellshuman630]

I havent started on mine but I'm researching trying to figure it out.

[@fayhandy5128]

I don’t have a strategy as of yet, but I’m pretty sure I will have a great one after watching this video.

[@mmdans1]

Raw materials, my making time, packaging are the things I used to price my product.

[@fatimageorges3028]

I do have a pricing strategy my darling, thanks for your expertise.

[@TheBrandHustler]

You are so welcome!

[@RonaldM1992]

I do not have a pricing formula. Ready to learn today!

[@alysiawilliams1158]

I do not have a business price strategy. I am here to learn.

[@jassicarule8884]

I'm just starting my business and I don't have a price list at the moment I'm a little confused on what to set my prices at. And buy the way it a hair business and I'll be make custom wigs and selling bundles as well.

[@jahjahbanks7491]

No pricing strategy just yet still learning and taking notes

[@haleefit1]

I base my prices on what you paid for the item , shipping , branding / labeling etc.

[@theshadybrat]

I double my products and add 8 for shipping

[@shamisomarabwa202]

My pricing strategy: take account of all the costs incurred in the obtaining the raw material of the product, every single aspect; down to the clips and thread to sew the wig. And then I doubled the cost to get my price to incorporate the time and labor it took to make the finished product

[@msjessiedenise]

online boutique: between 45 and 60% + overhead/production costs. On the fly, if I need to make a quick profitability assessment, I times by 3 and add $5

[@imanw9502]

I honestly didn't have one, lol but I definitely do now !! Thank youuuu

[@TheBrandHustler]

Glad I could help!

[@charlisaking5194]

No clue on pricing. Love your "Launch video".

[@shadarieyagraves824]

I do not have any prices set , I am Excited to see what's next

[@jhennyfavelus6142]

Thank you for all the info. Do you still have the spreadsheet up? I can't find it 😞

[@danahickles3197]

I like how you promoted another business.

[@shakelafortson4042]

My current pricing strategy is to look and compare market pricing for similar products and adjust the price to what I think my products are worth.

[@queenkim730]

I add the price of products, shipping, packaging materials and divide. Then I multiply by 2.5 or 3. Depending on the garment quality. I’m still working on it. 😬

[@shay1981]

I do not have one but I will after watching this video!😃

[@myfavsboutiquebyelishiamic6782]

Hi! I do not currently have a pricing strategy. I plan to launch within the next few months.

[@paulinethomas-griffin5909]

Trying to come up with one now.

[@sabrinavlogs416]

I do the cost of goods + shipping × 2, then I add $5 to my total and offer free standard shipping. Depending on the weight of my items, If the item is light, I usually pay $3.78 for the shipping, but for heavier items such as denims, I pay $7.31 for shipping. Now I will do, cost + Shipping × 1.75 + 5 for shipping. So that way I'm making 75% profit, but if I see an opportunity to make the full 100%, I will take it. My price ranges from $12-$45, all including standard shipping.

[@JenBen5]

My boutique is opening 1/21/21 and I was thinking about a 70-75% markup.

[@giamckinnis2576]

I don't have one in particular, I have researched what other similar products are selling for.

[@IamVictorious23]

So what I was doing for my prices and making sure I make double or more. I add shipping

[@Keci254]

I don’t have a pricing strategy, but looking to learn how because last time I lowered my price to satisfy others and lost a bunch of money. I just gave up on the business, but looking to start a new and improved one.

[@thaliaaxvo7196]

i dont have one. im watching your video now to start !