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Hey Fastlaners,
I would really appreciate some help from someone who knows a thing or two about food product margins.
I have a food product and pretty much every customer who tries it loves it. I decided this week to start wholesaling it to help get it in the hands of millions of people. I will be meeting a person on Monday who buys for a massive national coffee retail chain and other big brands.
My product currently costs $1.20 to make and most are happy to buy it at $5. However I think the majority of people would like it as a daily item for $4.
If I sell it to them at $3 each and they sell it at $4, I would be working on a 60% profit margin and the retailer would be selling it at a 25% margin/33% markup).
Am I being too greedy? Is it a good idea to suggest this as the initial offer?
I heard retailers want 33-50% markup on all their products? Is this true?
...If I play my cards right I might just enter the fastlane with this deal!
Thanks in advance
I would really appreciate some help from someone who knows a thing or two about food product margins.
I have a food product and pretty much every customer who tries it loves it. I decided this week to start wholesaling it to help get it in the hands of millions of people. I will be meeting a person on Monday who buys for a massive national coffee retail chain and other big brands.
My product currently costs $1.20 to make and most are happy to buy it at $5. However I think the majority of people would like it as a daily item for $4.
If I sell it to them at $3 each and they sell it at $4, I would be working on a 60% profit margin and the retailer would be selling it at a 25% margin/33% markup).
Am I being too greedy? Is it a good idea to suggest this as the initial offer?
I heard retailers want 33-50% markup on all their products? Is this true?
...If I play my cards right I might just enter the fastlane with this deal!
Thanks in advance
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