Originally Posted by hobo2000
I run a small shop, not quilts, and we use 50% markup but believe me that does not produce a living wage today. It did 4-5 years ago but with all of the added taxes, reports and such, it eats away our time and money. Inspector coming thru, I had to widen my paths, which are already wider than a quilt shops. There is always govt. after the small businessman or woman. At least my materials are steady, I don't have women clamboring for the latest fabric they saw in such & such magazine. I admire my LQS staff. It's not easy to keep supplying what women want and then what to do with what doesn't sell.
Thats what we did was mostly 50% mark up and we worked hard but we had money we were not poor and the business was not suffering.
I think other then dog food 70% if our items were 50% mark up. 15% of the items 30-40% and the other 15% were more.
My husband said when I got into this (married into a business)
that all you need is 30% mark up 10% for overhead, 10% for growth and10% for your pocket.
I dont know if that is true and like I said most was 50% not 30
Maybe because we had grooming attached and although it had over head there was more profit from there. Maybe thats why we could not charge 100% mark up and still survive for years.
Plus as hobo2000 said above me. That was 5 years ago and a lot has change.