Pricing your Print on Demand products is an important step. However, how to set a reasonable selling price? You can consider some points following to make a perfect pricing strategy for your business.
Costs
In Print on Demand business, you’ll need to pay attention to the following costs:
Base cost:
Base cost is the amount of money to produce a Prints on Demand product according to your requirements. This will include material cost, production cost and printing cost. This base cost may different from each products, whether your design printed on one side/ two sides or the whole product, it will also make a difference in ‘base cost’.
At BurgerPrints, you can update base cost when you create campaign for your product.
Shipping cost
BurgerPrints will deliver your product from the manufacturer to your customers. Shipping cost of some products will be included in the base cost or this will be an additional fee your customers have to pay. Please note this section to offer the most reasonable selling price for your customers.
Design fee
If you are outsourcing the design then this is definitely a fee you need to consider.
Tax
For some markets, you will have to pay a tax if you sell your products in that market (such as Sale Tax in the US, VAT in the EU or GST creating Australia …) depending on local laws.
E-commerce Platform Fees
With some e-commerce platforms like Shopify, you will probably have to pay a fixed fee or percentage on each order.
Fixed a profit
After carefully calculating the costs, select a fixed profit level and add to your selling price. You need to research your market carefully to make sure your final selling price is acceptable (if it is too high you will not be able to sell the product).
At BurgerPrints, the system will automatically calculate the profit for you when creating the campaign. You can refer to it and combine with your specific research to get the best pricing strategy.
Test and review
Reconsider your selling prices on a regular basis in relation to the market. Research your potential customers (demographics, income …), how will they pay for your product?
It is advisable to test and adjust the selling price to get the best effect.
Tips: Can create attractive promotions on selling price to attract customers.
Good luck!