In order to develop an effective pricing strategy for your business, you will need to determine your cost, markup, and profit margin.
Wondering how to ensure you're making a margin on a product? Spocket's profit margin calculator can help!
Simply enter your desired Sales Price and Spocket will automatically calculate the much profit you'll make (after paying for the product's cost and shipping)
We'd also like to share Shopify’s Profit Margin Calculator that can help you find a profitable selling price for your product.
This should easily help you calculate your estimated profit based on the cost of the item and markup.
For effective pricing strategies you can check this blog!