Calculate the selling price of a product

[seriousdamage]

Hello All,

I am trying to build a template to calculate the selling price of an item given the various costs.

Assuming I buy a product for $10.00,
I expect to make a 10% profit Margin so technically I would need to sell it for $11.00
So far I can handle it, the issue is that the platform where I would sell takes a fixed 15% of the "selling" price, so I need to sell the product for 13.34.
Is there a way to do this in excel?

Many Thanks
Nic

 

[steve the fish]

Re: How to calculate the selling price of a product

How do you calculate 13.34?

 

[seriousdamage]

Re: How to calculate the selling price of a product

How do you calculate 13.34?

By trial and error, I adjust the Selling amount value until my profit margin value shows 10%.
Currently, in the profit margin cell I have a formula but ideally, I want to have a standard 10% value there.

 

[steve the fish]

Re: How to calculate the selling price of a product

So you are making your ten percent on the final sell price too?

 

[seriousdamage]

Re: How to calculate the selling price of a product

So you are making your ten percent on the final sell price too?

I am not sure what you mean,

My costs are 2: Product cost + Platform Fees
I guess My question is, assuming I like to have a profit margin of 10% on each sale,
How do I calculate the Selling cost of the product?

 

[steve the fish]

Re: How to calculate the selling price of a product

So you are adding 10% to the platform fees as well as the cost of the product. Is that intentional?

 

[footoo]

Re: How to calculate the selling price of a product

Do you want your profit margin to be 10% of :
• Product Cost, or
• Product Cost plus Plarform Fees, or
• Final Sell Price less Platform Fees, or
• Final Sell Price

 

[seriousdamage]

Re: How to calculate the selling price of a product

So you are adding 10% to the platform fees as well as the cost of the product. Is that intentional?

Yes Correct

 

[seriousdamage]

Re: How to calculate the selling price of a product

Do you want your profit margin to be 10% of :
• Product Cost, or
• Product Cost plus Plarform Fees, or
• Final Sell Price less Platform Fees, or
• Final Sell Price

Of Product Cost plus platform fees

 

[footoo]

Re: How to calculate the selling price of a product

yes correct

=round(10/.75,2) (=13.33)