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Hi everyone,
I’m starting to offer more of my products for wholesale and it got me thinking about what is a “good” profit margin or if there is a rough industry standard.
For example:
RRP: $14.55 (excl. GST) / $16 incl. GST
Cost of Purchase goods: $3.91
Wholesale discount: 40%
Wholesale price: $8.73
Gross Profit: $4.82
Gross Profit Margin: 55%
Is 55% profit margin from my cost of purchase to wholesale sell price a good or not so good mark-up?