Profits and mark-up?

[Former_Member]

Do you have a certain % or $ you aim for as your profit? What all do you factor in? I am trying really hard to keep my prices down for military families, but still hope to gain at least a little profit. I think I will be profitable now that I have been able to gain inventory but just wondering if I'm way off with what I'm doing.

Thanks :)

[Former_Member]

It looks like your doing something right since you just joined in April. I usually try to compare other items similar to mine from shops that sell often, to get an average price. I make sure it covers the cost of materials and my time. Your time should probably be what you would expect to make per hour. I once read it ranges between $10 - $20/hr. depending on the craft.

Hope it helps.

Pam

[Former_Member]

I was thinking of basically paying myself a % commission of my purchases instead of some type of wage. Has anyone used this type of model before? If so has it worked for you?