Create a Gold Jewellery Bill Format for Shipping Effortlessly

Gold jewellery bill format for Shipping

hello guys i hope you are doing really really well today i am going to show you how to price your product or how to set a selling price for your item so first thing that you have to do you have to uh calculate the cost so how you can calculate the cost you have to add a material okay so the material cost plus you have to add the labor okay and then plus you have to add the overhead so guys material is the um the things that you need to make your product the material and the other thing is labor for example um obviously there will be a labor involved you have to pay someone a salary so you have to add that one and then the last thing is overhead so overhead is basically the taxes or some kind of fees for example you list your item on a website you have to pay them a certain amount of fees so that is considered as overhead so when you add them together you will get your cost so first step you find the cost so now we will put the values we just put the assumption so for example our material cost us let's say 10 or 10 rupees okay uh plus uh the labor uh cost us let's say eight dollars or eight rupees and then the overhead uh cost um is let's say two dollars okay so this total will be 20 okay so 20 or 20 rupees is our cost so guys in the next step what we have to do we have to mark up our cost twice so why we are doing it two times for the first time we will get our wholesale price and then in the second time we will get our selling price or retail price okay so first step that we have to do is we will multiply cost with markup okay so this will get our wholesale price okay guys so uh let's as we already calculated our cost uh price is 20 okay then we multiply it with the markup so markup let's say we have two so when we multiply our answer will be 40 dollars or 40 rupees so this is our wholesale price okay so this was the first step so the next step we will get our retail price so how we can get the retail price same thing we have to do we have to multiply the wholesale price okay with markup okay okay then we will get our retail price okay guys so as we already calculated here our wholesale price which is 40 so we will put the 40 over here our markup is 2 okay so 40 multiplied by 2 is equal to 80 okay so guys this is our retail price if you want to know the markup i already made a video about uh how to find out the markup what is markup so markup is basically a profit margin it is a profit margin so most of the time it is between two to two point five or sometime it is more it depends so this is how you can calculate your retail price so uh sometimes um some people they got confused and they think only the material is the cost price so no not only the material but you have to add the labor plus you also have to add the overhead in order to get your cost price so then you will get your exact cost price so once you get the cost price it will be very easy you have to multiply it with the markup for the first time you will get your wholesale price okay and then uh for the second step because you have to calculate your retail price so simply and just uh multiply your wholesale with the markup again and then you will get your retail price so here you know we already get our answer so guys this is for today's video i hope you liked the video i hope you enjoy the video so please do subscribe to my channel guys thank you very much