Food Biz Wiz
191. Markup vs. Margin: The Importance Of Knowing The Difference
Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE.
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!
Download the Food Biz Wiz Listener Guide and make the most out of our 250 episode library! Get our curated playlists of top episodes on sales pitches, wholesale buyers, founder mindset, marketing, and more. Fast track your learning by downloading our free Listener Guide HERE.
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!