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There are a range of ways to calculate your prices. Use the following interactive calculators to help you work out your prices. Once you have read and understood the examples, you can type the numbers that are relevant to your business into the calculators to see your prices.
- Take the cost price and add the same percentage mark-up to all items (e.g. 50%). Talk to your suppliers, competitors or relevant business and industry associations to find an industry standard.
- Useful when you have multiple products at different price points and other costing methods are too complex.
- Adjust the mark-up depending on your strategy. For example, if you are using penetration pricing, you would use a lower mark-up than your competitors.