Hey Hassan, 👋... I would like to share my ideas with you which are;
1.Calculate your cost of goods sold.
Cost of goods=cost of products+cost of labours+suppliers+expenses
gross profit=total revenue - cost of goods sold
2.Scan the competition because your competitors prices can have direct impact on your charges.
3.compare your prices with other shops. Revisit your prices regulary . Businesses environment is constantly changing.
4.Books like 32,48 pages are bought 15 bob you can sell 40sh ,drinks of 500ml sold 1200 sell 1500, 200 ml sold 460 sell 600.
5.Display your prices lists infrot of the shop to make it easier for your customers.
6.Check the dependency on prevailing market prices of items.
7.Use Social media traders which will give you latest market prices.
8.If new in the market discount your products with ten shillings which will attract more customers .
9.Consider the location which is in an open place where customers are able to see your business. Consider locating in urban areas than rural areas.
10.Apart from books and drinks 🍻 add more stock which are consumed daily like bread, milk, cooking oil, sugar, salt, cakes, e.t.c.
Have a look of this shop and you will thank me later 🙏
#PricingChallenge