Mixed Number to Decimal
Here, you can enter the cost of your product or service and what percentage profit (Percent Markup) you want to make. We will then calculate the sales price and your profit when you press the "Markup" box below.
What is Percent Markup?
Percent Markup is the percent of your cost that you want to add to the cost to get to the sales price. You need to add markup to your products and services in order to make a profit.
When considering what percent to mark up a product or service, remember that the Percent Markup only looks at the variable cost for that particular product or service.
You probably also have other fixed costs associated with operating your business such as rent, salaries, electricity, taxes, and so on.
Definitions
Your Cost
Your cost is how much you have to spend to create and/or acquire the product or service you're selling.
Sales Price
The sales price is what you want to sell the product or service for. This is the sticker price.
Profit
The profit is what you sold your product or service for, minus what you paid to create and/or acquire it.