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Sure, you might encounter the odd picky customer who will still bombard you with questions about your product…While there’s no hard and fast rule, try to price your items at 0 or above.
Yes, it's very difficult to forecast, but take some time to think through all the factors that contribute to your sales figures: Consider showing best, expected and worst case scenarios.
It's worth realising that financial predictions will change quite a lot so keep on top of it, perhaps schedule a monthly meeting to see what factors have changed.
In comparison, if you choose a niche that caters to consumers in the upper middle class, you won’t have that problem.
They have more disposable income, so they'll be less careful with it.
Explain the fine detail here, the real background to your business.
Some of the things you should include are: You should also include some constraints - what could go wrong? - but keep these simple, so as not to give a potential investor or bank manager the impression yours is a high-risk business.
Show you a fully aware of the market you are focusing on and of your competitors, and that you can challenge them.
Ensure that you've done some in-depth market research to further justify the need for your product.
Here’s the rationale behind it: After accounting for operations, warehousing, and marketing costs, most e Commerce store owners end up with a 20-30% profit margin.
Let’s say you’re earning 20% on all the products you sell. :( If you’re selling a 0 item, you’re making . Think of it this way: The amount of time and energy you spend on processing and fulfilling your order is the regardless of whether you’re selling items or 0 items.