Hello. I have started a small business where I sell baked good from home (licenced) and at flea markets and such. My first flea market is coming up and I have had a few people tell me my prices are ok and some say they are too high. I have done the "times 3" rule and when I add up all my cost of ingredients, packaging, time and effort, and a bit more for profit, this is the best I can price my items tomake it "worth it". Im not doing this for charity, Im doing this cos times are rough and I NEED to get somemore money flowing into my home. example of price: Banana nutbread with chocolate chips, whole loaf, 12 muffins, or 24 mini's...16 dollars Carrot cake....whole cake or muffins, 16 dollars variety of muffins.....16-18 dollars a batch (12 muffins or 24 minis) When I look at the prices of baked goods and gift baskets online, I seem to be cheaper than almost all of them. Important note: I am living outside of the US, so I am paying more for ingredients (like chocolate chips) that are imported. I have to pay 5 dollars for a bag of chocolate chips and also 5 dollars for vanilla wafers. IF this is too much, how much would you charge? Again, as a business, not for charity. And I would highly appriciate any tips! Im nervous about my first flea market and having to explain to some customers why I priced items the way I did. I would link my website but its not allowed. BTW, all these baked goods I sell are not available anywhere else I live, especially my ADA approved items.
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Keep the prices just the way they are. You are doing the right thing. If you lower them any more, you would practically be giving your goods away. I would definitely buy goods from you at that price you have. Your fine. Don't let people tell you it's too high... because it's really not. If they have a problem with it, tell them to make their own goods.. and see how much it costs them.
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