Inventory, bookkeeping and business success topics for makers.
Handmade entrepreneurs, when starting out, often make a handful of common mistakes with their pricing. This can be a result of undervaluing their work, mis-underestimating their time to create, and also not fully calculating their costs of production.
Markup is the amount you add to your production cost price to arrive at your recommended selling price. It is a commonly used technique to determine how much to charge for your products as it ensures that you fully factor in all expenses involved.