Don’t ask questions just answer the question. I’ll get to the point in a second.

Let’s say I’m an online shopper and I want to buy waist beads. How much (on average) do they cost per strand?

An impromptu thread on pricing for profit, discounting, creating bundles + other stuff:

Let’s say they cost $12 per strand on average.

They can go for more or less, depending on the brand/story and materials used (this applies to everything)

Real examples I found online:

Now how much do they cost to make?

Of course it depends, we all know handcrafted things cost more but let’s say we’re getting them from a mass manufacturer.

Quick search. Here’s the cost for glass beads with a 50” cotton cord that can be tied and cut to size:

And here’s the cost for acrylic/resin beads with a 31” elastic cord.

Their listing says to inquire about other materials, so I would ask if they work with cotton bands (higher quality) and glass beads. I bet it’d cost less than the supplier above.

To clarify, this is the cost per *strand* of beads.

Let’s go with the higher price just because, although I’m certain you can find the cotton/glass combo for under a dollar per unit.

At $1.26 per unit x 250 units, you’re $315 in. Let’s round up to $400 to account for shipping.

Both suppliers have catalogs with designs to choose from, or they’ll customize to your liking.

I would not order 250 of the same design, I’d probably do 25 each of 10 different colors/designs.

Eventually you will discover what your audience likes and dislikes, start slow.

You’re paying $400 (shooting high) for 250 strands of beads, $1.60/each shipped to you

Now you need product packaging, shipping packaging, stickers, thank you cards, product photos, campaign photos, etc

Let’s say all that costs another $250.

Your break even cost is $2.60/unit

Quadruple the break even cost.

$2.60/unit x 4 = $10.40

This is my minimum target price per unit. I want to offer bundles and other opportunities to save money, so I’m going to price it higher than that.

I’d price at $15 per strand when bought individually.

Double the break even cost.

$2.60/unit x 2 = $5.20

I don’t sell these but if I did, this would be my bottom-line price.

What’s a bottom-line price? The *lowest* I would ever let the product sell for during any sale, promotion, or when any codes are used.

My pricing would look something like this:

Individual strands: $15/each

Buy more save more:
Two strands for $25 ($12.50/each)
Three strands for $30 ($10/each)
Five strands for $35 ($7/each)

*You don’t have to offer all of the bundles/promos all of the time*

Check this out to learn more about creating promotions and discounts > https://carolinelawless.co/products/30k-strategy

In this guide, I walk you through a 60% off flash sale and I show you screenshots of the exact texts and emails I sent to my customers. FYI this is *not* a sale you want to have often

I would only do a 60% off one hour flash sale for a special occasion, to kick off Black Friday for example.

In the case of waist beads:

$15 original price - 60% off = $6 sale price

Still above our bottom line price of $5.20 where we already doubled the total cost ($2.60)

A 60% off flash sale is a HUGE deal to your customer, especially if you limit it to an hour (FOMO) and don’t do it often

And even during what will probably be your biggest sale of the year, you still have a 56% profit margin.

I would go with something less dramatic but still exciting for the launch, maybe offer 25% off your first order if you subscribe to the email list.

I’d start with individual strands only.

Eventually I’d do a bundle sale (and email my subscribers to let them know).

250 units x $10.40 average target price = $2,600 revenue on a $650 startup cost.

This is approximate based on your target number.

What you do with that money is important. It’s an opportunity to grow!

Have a re-up plan. Maybe next time you can buy more units at a lower cost.

Now you have an idea of which colors/designs people liked more based on what sold faster than others.

Always study your data.

Ask for feedback, ask people want they want to see and use the information when placing future orders.

I love “daily deals” (and so do customers)

A daily deal is a special, never-before-seen or best selling product (or in this case, design) that is available at a special price for 24 hours only

Always be introducing new designs and colors to keep your customers coming back.

If you enjoyed this thread, you may also find these useful:

• $30k Strategy Guide >> https://bit.ly/2XHiKsO 

• Zero to Launch Ecommerce Book >> https://bit.ly/3a95pOP 

• Schedule a call with me >> https://bit.ly/2XIPQsj 

• Brand audit >> https://bit.ly/2XI0kIk