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Business strategy
What is a reasonable profit margin for any business?
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[QUOTE="Mika, post: 282801, member: 29399"] When you are just starting, a 10 percent profit margin is good. If you are established you can add a 20-25 percent profit margin. This is my favorite pricing strategy that has always worked for me. When you are new, people will not trust you, you can attract buyers only by offering your products for cheap. When people find your products are cheap, they are willing to try your products. When you have a small profit margin, your product will be cheaper than your competitors. The idea is to sell more products for lesser profits. IN doing so, you will buy sales and reviews. Once you have managed to build loyal buyers and when you have a lot of positive reviews, you can increase your profit margin to 20-25 percent. Since you have positive reviews, and you also have loyal buyers, you will have buyers who continuously buy from you as well as new buyers. [/QUOTE]
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What is a reasonable profit margin for any business?
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