Jashley73
Titanium
- Joined
- Jan 24, 2013
- Location
- Louisville, KY
I have a fairly simple product idea that I've been mulling over for a few months, and will probably try to cut some prototypes soon. The idea would be to have the parts made by a local shop vs. building my own shop, and just focus on the selling/business side for now.
For those who make & sell a product of their own - How do you weigh your cost of goods sold, vs. the selling price. Spreadsheet of costs x multiplier to come up with a sales price? Or is it a gut-feeling of what the market will bear, then list it for sale? Somewhere in between?
Curious to know your thoughts on this. Thanks
(Edit - To be clear, I'm not interested in job-shop or contract machining services work - products only right now.)
For those who make & sell a product of their own - How do you weigh your cost of goods sold, vs. the selling price. Spreadsheet of costs x multiplier to come up with a sales price? Or is it a gut-feeling of what the market will bear, then list it for sale? Somewhere in between?
Curious to know your thoughts on this. Thanks
(Edit - To be clear, I'm not interested in job-shop or contract machining services work - products only right now.)