Can someone help me with my online business please? I'm going to be set up as a sole trader. I need help with pricing up.
Here are the costs:
T-shirt: £1.40
Ink: £1.00
Packaging: £0.67
Artwork: £3.00
Labour: £3.00
Paypal fee: 3.4% + 20p
VAT: 17.5%
The total running cost of my business is around £100 every 2 years.
Can someone help me with how much I should charge for T-shirts? This may seem like a stupid question but I'm just trying to get everything right and I'm a bit confused because people seem people where just telling me to work out the cost then charge whatever I want and take the profit. Others were telling to work out the cost then double it to get the RRP then take half for me then half for the business on my earlier question. So I'm a bit confused.
Here are the costs:
T-shirt: £1.40
Ink: £1.00
Packaging: £0.67
Artwork: £3.00
Labour: £3.00
Paypal fee: 3.4% + 20p
VAT: 17.5%
The total running cost of my business is around £100 every 2 years.
Can someone help me with how much I should charge for T-shirts? This may seem like a stupid question but I'm just trying to get everything right and I'm a bit confused because people seem people where just telling me to work out the cost then charge whatever I want and take the profit. Others were telling to work out the cost then double it to get the RRP then take half for me then half for the business on my earlier question. So I'm a bit confused.