Knowing your cost price is the first step in coming up with a profitable retail price for your product. Now we've followed the three steps in the know your cost lesson and have a cost price. The next step is to know your market. After all, there is no point charging $35 for your product if everyone else is charging $100 you sites like Etsy and Amazon to search with similar handmade products like yours. You can also do a product search in Google to see if there are any other places selling handmade products. make a mental note or take screenshots of the prices being charged as that would help finalize the price you will charge for your product.

This step is about researching what others are selling their products for and what customer expectations are when it comes to what they get For the price being charged, use the discussion area to comment on your findings or if you need additional help searching for where your product is sold