Quote:
Originally Posted by chrissy0124
I want to sell rainbow loom. but i don't know much i can sell it for?  |
As much as you want.
This is a question that millions of dollars are spent on annually, and not an easy one to answer.
For you, you need to factor in cost of supplies, if they are hand made, cost of tools etc, plus you need to account for time spent. Even if your team is making them (as free labor of course
) if you only make $1 profit on an item that takes 1 hour to make, it probably is not worth it.
Look at market costs of the product, what other people (such as stores) sell them for. If you are simply buying an item from a store, and reselling them, obviously you will have to either get a deal from the store, or sell them for more.
Remember, people will (to a point) pay extra for an item if they are supporting the local high school robotics team than they would get it for at the store.