One of the secrets to business success is pricing your products properly. Calculate all of your fixed overheads. Add this to the cost of sales which is the variable cost to sell each product or service. Then add the money you would like to make from each sale which is your desired profit. This is the best method to use to make sure you are maximising your profit. Remember to take into consideration your revenue target for how much of a profit you want your business to make. It’s also helpful to look at the competition, after all, your customer most likely will, too. Finally, keep an eye out on where the market is heading.
