Age-old rule of thumb: You need to double whatever you paid for it.
As others have said though, that's just a starting point, and you factor in other variables from there, including how long it takes to sell, how easy it is to re-stock, repeat customer relationships, etc.
On non-unique items, usually the store owner will have some idea of the "market value" of the item and base his buying price on that. Unique items are often the other way around and may require more of a gut check: if there's only one and I have to pay $___ for it, will I be able to sell it for 2x $___ (or whatever margin you need).
If you know you're offering fair market value for the ball (I'm talking actual FMV, not what lowball price you would like to get it for), and the owner won't budge on his price, he may be upside-down in how much he paid for it, have it on consignment, have a different FMV in mind, or just be stubborn. In the end, either you can arrive at a price that is agreeable for both of you, or you can't. In my experience, trying to convince him that he only needs 75% profit on this ball instead of the 100% profit he thinks he needs is not going to get you anywhere.
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08-25-2012, 12:38 PM
Hybrid Mode
