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Help setting prices and contacting retailers!

    • 6 posts
    July 25, 2011 1:26 AM EDT

    I need your help. I need to get retailers for my new product, Shrinkins The Healing Art.

    I think my product can be retailed by Hospital Gift Shops, Physical Therapy Centers, Orthopedic Doctors Offices, Pharmacies, and Medical Supply Companies. I am all set up with a website and Inventory. I can Drop ship or wholesale Inventory. I am ready to sell to them, but I want to do it right.

    1.) How do I know how much to wholesale my product for? Is there a certain markup that is used? My product costs about $3 packaged. It is retailed at $19.99. How much should I wholesale it for and what qty should I require? I'm assuming if I drop ship the product those retailers should profit less than the ones that buy the inventory. Is their a percentage that is normally used for markup for retailers drop shipping vs. retailers buying it wholesale?

    2.) Is there a sample letter on what to say when you contact potential retailers via email or a sample of what to say on the phone to get them to consider selling/offering your product?

    I really need your opinions or links to articles for help. I have great product but am stalling because of lack of knowledge in this area. Thank you SO much. Tracie