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
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