Tess Posted January 24, 2007 Share Posted January 24, 2007 Hey all. I am re-doing my cost, and making sure my prices arent going to need a hike up. In doing so I came across a little labor question, that will be especially important this year, since I am hiring employees. When figuring cost, do you add the labor % INTO the cost or Outside the cost? For ex, are you doing your cost $XX.xx * XX% (labor) then that total times 2 for wholesale or 4 for retail? OR are you doing $XX.xxcost times 2 for wholesale (or 4 for retail) plus 20%?Just wondering what the rule of thumb is. Oh and is 20% enough for labor/utilities?TIA Quote Link to comment Share on other sites More sharing options...
roxi4112000 Posted January 24, 2007 Share Posted January 24, 2007 i think alot of it comes down to where you live, i couldnt sell a candle for alot so i dont add in my labor when figuring the cost of candle to me, i do however break down elec, supplies(paper towels, baby wipes etc), and shipping into the cost of the candle. hope that helps:grin2: Quote Link to comment Share on other sites More sharing options...
bugtussle Posted January 24, 2007 Share Posted January 24, 2007 I don't use the formula / cost (matl) x 2 for wholesale. I take matl + labor + profit (what you need your company to make) = wholesale price. Sometimes you have to "tweak" it for your particular area. There was a good post on this just before the board went down last week. Carole Quote Link to comment Share on other sites More sharing options...
Tess Posted January 24, 2007 Author Share Posted January 24, 2007 I cannot find the post. Did it get removed? Quote Link to comment Share on other sites More sharing options...
Janette Posted January 24, 2007 Share Posted January 24, 2007 I don't use the formula / cost (matl) x 2 for wholesale. I take matl + labor + profit (what you need your company to make) = wholesale price. Sometimes you have to "tweak" it for your particular area. There was a good post on this just before the board went down last week. CaroleI base my prices this way also. Janette Quote Link to comment Share on other sites More sharing options...
bugtussle Posted January 24, 2007 Share Posted January 24, 2007 Tess, this is the link http://www.candletech.com/forums/showthread.php?t=41928Carole Quote Link to comment Share on other sites More sharing options...
Tess Posted January 24, 2007 Author Share Posted January 24, 2007 Thanks!! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.