Food Biz Wiz
191. Markup vs. Margin: The Importance Of Knowing The Difference
You’re sitting in a meeting or on a phone call with a buyer and they throw out a percentage. Are they referring to margin? Markup? Which one? And what does that mean for YOUR brand? In this short episode, we break down…
- What margin and markup are
- Why you can’t afford to mix them up
- PLUS, why it’s okay to clarify with a buyer which they’re referring to!
Follow along with my live math example below:
Wholesale price: $5
Retail price: $8.50
Profit: $3.50
3.5 / 8.5 = 41% Margin
3.5 / 5 = 70% Markup
Find the two calculator resources that I mention, as well as the links to our Food Biz Wiz Facebook and my Instagram, linked in our full show notes here!
This episode is sponsored by our Retail Ready® Masterclass for growing YOUR food business! If you listened in and KNOW that you want access to ALL of my buyer insights, plus to be a part of our supportive, knowledgeable community, then Retail Ready® is THE place for you. Check out our Masterclass for my actionable tips to increase your sales now, plus an invite to join us in Retail Ready®. Click here to watch our Masterclass and learn those tips, plus all that we cover with our course, strategic support & community!
You’re sitting in a meeting or on a phone call with a buyer and they throw out a percentage. Are they referring to margin? Markup? Which one? And what does that mean for YOUR brand? In this short episode, we break down…
- What margin and markup are
- Why you can’t afford to mix them up
- PLUS, why it’s okay to clarify with a buyer which they’re referring to!
Follow along with my live math example below:
Wholesale price: $5
Retail price: $8.50
Profit: $3.50
3.5 / 8.5 = 41% Margin
3.5 / 5 = 70% Markup
Find the two calculator resources that I mention, as well as the links to our Food Biz Wiz Facebook and my Instagram, linked in our full show notes here!
This episode is sponsored by our Retail Ready® Masterclass for growing YOUR food business! If you listened in and KNOW that you want access to ALL of my buyer insights, plus to be a part of our supportive, knowledgeable community, then Retail Ready® is THE place for you. Check out our Masterclass for my actionable tips to increase your sales now, plus an invite to join us in Retail Ready®. Click here to watch our Masterclass and learn those tips, plus all that we cover with our course, strategic support & community!