This is just for fun, so don't get too picky. Prompted by the retail store closing thread.
Have you ever wondered how retailers make a profit? Sure... by selling for more than their cost. But how much more? That's where it gets interesting. After being in the field, I've been aware of most retail products, what they cost, and whether the markup is high or low. Quite interesting.
So here's a test... Match up the class of goods, with the range of markups that a retailer might expect to get.
1. Clothing
2. Shoes
3. Cell Phones
4. Furniture
5. Groceries
6. Prescription drugs
7. New Cars
8. Eyeglasses
Mark up %
a. 100-500%
b. 8-10%
c. 200-5600%
d. 60-80%
e. 800-1000%
f. 5-25%
g. 100-350%
h. 200-400%
Remember this isn't serious and you won't win anything. Make your match ups, and then go here to see where the numbers came from.
Cheat Sheet: Retail Markup on Common Items
Then decide which kind of business you want to start.
Have you ever wondered how retailers make a profit? Sure... by selling for more than their cost. But how much more? That's where it gets interesting. After being in the field, I've been aware of most retail products, what they cost, and whether the markup is high or low. Quite interesting.
So here's a test... Match up the class of goods, with the range of markups that a retailer might expect to get.
1. Clothing
2. Shoes
3. Cell Phones
4. Furniture
5. Groceries
6. Prescription drugs
7. New Cars
8. Eyeglasses
Mark up %
a. 100-500%
b. 8-10%
c. 200-5600%
d. 60-80%
e. 800-1000%
f. 5-25%
g. 100-350%
h. 200-400%
Remember this isn't serious and you won't win anything. Make your match ups, and then go here to see where the numbers came from.
Cheat Sheet: Retail Markup on Common Items
Then decide which kind of business you want to start.
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