Marking up merchandise

[Alan Barnard]

Man, that seems low to me. My markups are more in the 80 to 100 percent
range & shipping on larger items.

Let's hear from others ...

Alan Barnard
Salem, Missouri


> [Original Message]
> From: Wayne Walker <wayne.w@musicstop.com>
> To: John Dorr <a440@bresnan.net>; <pianotech@ptg.org>
> Date: 11/14/2005 1:29:53 PM
> Subject: RE: Marking up merchandise
>
>
>
> -----Original Message-----
> From: John Dorr [mailto:a440@bresnan.net]
> Sent: Sunday, November 13, 2005 12:55 PM
> To: pianotech@ptg.org
> Subject: Marking up merchandise
>
> Hi John,
> I noticed nobody has reply to your request. I usually use 30-50% mark up
on
> most items. You should inquire to see what other tuners in your area are
> charging for items  like Dampp-Chaser system and base your price on that.
> The smaller items like punchings, key button etc., I bill out as shop
> supplies. These are not in our inventory as such but charged against the
> acoustic piano service department. Items like glue and lubes also go as
shop
> supplies.
> New set hammers cost 250 plus mark up and labour is the norm. You need to
> make money on the parts and don't forget shipping cost on these items.
>
>
> Wayne Walker
> Piano Tuner & Technician
> MUSICSTOP LTD
> 1005 Dow Rd, New Minas, NS
> B4N 3R4
> Cell 902-221-1540
> Fax 902-681-1463
> wayne.w@musicstop.com <mailto:wayne.w@musicstop.com>
> www.musicstop.com <http://www.musicstop.com>
>
> Hello all,
>
> I've been an idle newbie watching this list.  I'm a PTG associate member
and
> have been growing my business for about 5 years now.  This is my first
> question to the list.  If you think it's inappropriate, please don't flame
> me!
>  I just thought I might get a great variety of opinions from which to
> choose.
>
> What is an appropriate mark-up on the "Merchandise" part of what we sell?
> If
> WE buy a set of hammers for, say, $250, do we charge $500 for just the
> hammers
> and add labor to that?  Or, give the hammers at cost and be happy to make
> the
> labor price to install them?
>
> Are smaller goods that might be thought of as "supplies" (like key
buttons,
> felt punchings, etc) treated differently?  Maybe just include a "Supplies"
> charge on repairs, like automotive shops do?
>
> What's a typical Gross Profit Margin?  I'm in retail also, working
part-time
> for a music store, and retail GPMs have eroded considerably over the
years,
> thanks to mail-order, discount music stores, and the internet.  It used to
> be
> typical back in the "good ole days" to make a 50% GPM (buy for $1, sell
for
> $2), but now you're usually deliriously happy with 30-40% on big ticket
> items
> (because NOBODY pays list price) and try to make it up on accessories
> (drumsticks, guitar picks, et al) that are not "shopped" for low price.
>
> Help me find my way.  I'm marking up a Damp-Chaser, for example, to
approx.
> 35% GPM.  Maybe that's all my market area will take, maybe I should be
> getting
> 50%, and maybe I'm being greedy.  I'd like to know some others thoughts.
> And
> I really don't think we're violating any anti-trust laws by discussing it.
>
> If you'd rather just email me privately to keep your thoughts less public,
> my
> address should be listed here, but if it's not, mail to a440@bresnan.net
>
> If the subject is taboo, tell me nicely and I'll slink slowly back into
the
> shadows.
>
>
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