Figuring a wholesale price

[CandleLytes]

If/When you decide to sell your candles at wholesale how do you firgure your wholesale price. When my dad had his tool shop he said he would offer his customers a certain percentage off case amounts. So if a case of hammers was 59.99, and his profit was 45% he would offer a wholesale discount of 15% so he was still making a 30% profit. But he said people may do things different in the candle biz.

Right now my candles are at a 45% profit but I may up that to 50% very shortly as I am getting busier and busier. I am not asking for you to tell me what to offer, I am just asking what your "procedure" is and sees how it compares to the idea I already have in my head.

Thanks.

[Vicky_CO]

Girl you have your prices all screwed up You are manufacture not a wholesaler. You pricing structure is set up if you buy wholesale and then resell.

Cost X 2 for wholesale Cost X 3 or 4 for retail. I say 3 or 4 because some markets and product bear the X 4 some can not.

Right now you are giving your retail customers what you should be giving your wholesale customers.

[CandleLytes]

That's why I asked because my first thought was the same thing as what you just said. My dad disagreed with me and said I should offer my products at a wholesale price but require a case minimum. I told him I could do that, and take off a certain amount per candle, say, .15 (that's just an example) and that is not wholesale, it's discounted. THANK YOU... for making me right and not him.... lol. And I know, it's my business, not my dad's but I asked him for advice based on his experience as a business owner. Won't make that mistake again, LOL. Thanks Vicki.

[Vicky_CO]

The difference is your Dad was a retailer not a manufacturer.

Your Dad is right in that if I buy something in like Tart burners for example I pay $8.00 for one then I would charge $16.00 to my retail customers. I would not be able to wholesale those but I could still afford to give a quanity discount say someone bought 6 of them I could give them a discount of say 15% to 20% I could call it a wholesale discount but it really not because the market could not bear the mark up that customer would have to do to make a profit.

My wholesale customers ask the same that if they buy a candle from me at $4 then they can charge $8.

You should have minimum for wholesale a lot of us do a minimum dollar amount and per candle minimums

Mine are $200 first time buyer $100 repeat buyer and 4 per scent and size.