So im just trying to vent as im frustrated. My buisiness partner (also my wife) like to charge as much as humanly possible, to much i think. We started selling one product where she would always want to way over charge and it was a constant fight as i believed we charged fairly. Now we are selling a speciallty coffee, hand made components and all that. We originally charged $4 for 1 pot of premeasured coffee mix and she started telling our sales potential it was $5. Ok so i was fine. Now she was playing with our e-commerce pages and charged $7 per pot and she said thats fine. Im frustrated because she has this attitude of overcharging because she wants all the money, not trying to get brand recognition first then slowly raising or even be happy making what we are making. Im frustrated because no matter what buisiness we try doing she wants to charge double the top dollar because she wants all the money and it leads to arguing
She’s a miserable greedy cunt
Just price whatever you want, if you sell it at a higher price point you have extra room for making packaging extra special, bring in an extra gift, big sales, and best of all more profit for less product.
It’s one thing to be greedy & another to be fair. If your product is actually worth 7 dollars, why sell it for 4?
I’d say experiment as much as you can & see how far you can stretch…
Can’t you A/B test your prices? Use limited time sales to find a sustainable price?
There is no right or wrong when it comes to business, just results. And in business there is only one true result, money in the pocket. Branding doesn’t matter, price and USP matters
Greed is valuable trait for capitalism. Raise your prices until it negatively affects sales. Just stagger your increases to give your consumers time to adjust.
If you’re new, operating in a highly competitive space, with no technically advantaged offering…you set entry level pricing LOW.
Raise prices later, when you get some traction. But, even then be mindful you don’t cross over into over charging territory
Seems super reasonable to try the highest price possible for your type of product. She should be making a partner is too stingy and is being an asshole post.
That’s the first rule of doing business my dude, you charge as much as humanely possible. You are basically saying ‘oh no! my wife wants to make us more money’.
First rule of business is make a profit, not charge as much as possible LOL wtf
YTA. It’s easier to charge less in the future. Listen to your wife.
Is this ecommerce? Shipping it probably costs $2-$4
I’m wishing you and your wife the best, I come with some advice but with all do respect I’m not telling you what to do but voicing out my opinion.
Price is relative to the branding / marketing and not just cost of goods. Price is also relative to supply and demand.
Trust her to do her job and help her make it happen, against all logic that may go through your eyes and mind. This is also what a supportive husband should do, you’re a team.
Here’s a similar story from my life:
My father and I started a business together. He told me he needed a product and I told him I could get in on AMZN for $25, and he said buy as many as I can and sell it for $60 in our retail store. I let him know AMZN is retail and he said yeah he needs to make a profit. So against all logic that might be going in your mind and my mind at that time, I did what he said and the result was we did this for a couple years. People kept buying. The product was de branded by me and sold in the store in a clear plastic bag that it came in, so it definitely wasn’t the branding but the quality of the product in a high in demand area. So if hers and your marketing can achieve $7 by positioning yourself in that way, go for it. Just believe you can and believe there’s someone willing to pay that price or even more, and they’re more than happy to. ✨
YTA for moralizing $2 pricing experiments
Personally, I don’t believe in overcharging if it’s rated to healthcare or basic needs, but if it’s recreational or a comfortable tool then I charge to maximize profit/revenue.
The market decides what it wants to pay for the product. If you can get more for your product and position it as a premium product, position it that way. If your wife is wrong then the market will correct her.