170 – Are you confusing mark-up and margin?

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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