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170 – Are you confusing mark-up and margin?
Manage episode 292481737 series 2483891
When it comes to working out your selling prices, one of the biggest mistakes people make is getting their margin and mark-up all mixed up!
It’s easily done as the two words are pretty similar. But it can be a costly mistake to make if you get it wrong.
In this episode, I explain what the difference is between a margin and a mark-up, and what percentages you should be aiming for depending on how you are selling your products. Discover:
- How to do the maths to work out your mark-up 00:48
- How to calculate a margin 03:09
- What mark-up should you be aiming for? 04:56
- What your mark-up needs to cover 05:33
- Typical margins that big retailers might work towards 07:37
Stay in Touch
British Brand Accelerator - Find out how you can work with me to build your British-made brand
Join Make it British - become a member of our community and promote your business in our directory or UK-made brands and manufacturers
Make it British on YouTube - subscribe to my YouTube channel to watch many of the podcast episodes as videos.
301 episodi
Manage episode 292481737 series 2483891
When it comes to working out your selling prices, one of the biggest mistakes people make is getting their margin and mark-up all mixed up!
It’s easily done as the two words are pretty similar. But it can be a costly mistake to make if you get it wrong.
In this episode, I explain what the difference is between a margin and a mark-up, and what percentages you should be aiming for depending on how you are selling your products. Discover:
- How to do the maths to work out your mark-up 00:48
- How to calculate a margin 03:09
- What mark-up should you be aiming for? 04:56
- What your mark-up needs to cover 05:33
- Typical margins that big retailers might work towards 07:37
Stay in Touch
British Brand Accelerator - Find out how you can work with me to build your British-made brand
Join Make it British - become a member of our community and promote your business in our directory or UK-made brands and manufacturers
Make it British on YouTube - subscribe to my YouTube channel to watch many of the podcast episodes as videos.
301 episodi
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