Price a new product you've made

Help me price a new product.

The product: [what it is]
Materials per item: [list with costs]
Time to make one: [minutes or hours]
What I want to pay myself per hour: [amount]
Packaging and postage per item: [costs]
Selling fees: [e.g. Etsy or card fees, as a percentage if you know it]
Where I'll sell: [e.g. own website, markets, shops at wholesale]
Similar items I've seen and their prices: [examples]

Ask me up to 3 short questions first. Wait for my answers.

Then:
1. My full cost per item, including my time.
2. A retail price with a healthy margin, and the margin in plain words.
3. A wholesale price, if I'll sell to shops, and whether retail leaves room for it.
4. How my price compares with the examples I gave, and what would justify charging more.
5. One simple way to test the price.

Show your sums, use my figures only. Planning help, not financial advice. UK English.

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