Deoderant Price Calculator: How To Price Your Deoderant?

Deoderant Price Calculator: How To Price Your Deoderant?

article

How to Calculate The Price For Your Deodorant

Our calculator is designed to be simple and easy to use. It covers:

  • your base costs of time
  • salary
  • materials

It also allows you to input a desired profit margin on top.

We hope this calculator helps you make more money for your deodorant brand.

Please input below:

More Tips On Pricing Your Deodorant

How To Price Your Deodorant

One of the most challenging aspects to starting a deodorant brand is determining how much to charge for your deodorant.

When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.

Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.

On the other hand, when businesses over-price, this tends to be just as damaging to the business.

When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.

Here are some factors to consider when pricing your product:

Understand your customer

It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:

  • Customer demographic: Age, gender, location, etc.
  • Buying habits of your customer: What they buy + when they buy
  • Level of price sensitivity with your customer

All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.

Understand your costs

When pricing your deodorant, it's critical that you first identify all of your costs and consequently mark up your deodorant so you can factor in a profit.

The actual cost of your deodorant may include things like:

  • The actual cost to make the product (ie. raw materials, supplies, manufacturer).
  • Shipping + overhead fees
  • Rent
  • Operating costs to run your business

You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.

Create revenue goals

When determining the price of your deodorant, you'll want to create goals for revenue + how much profit you want your deodorant brand to make.

This process is simpler than you may think:

  1. Think about your breakeven cost (by completing the above step).
  2. Create a revenue goal based on your break-even cost
  3. Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
  4. Divide your revenue goal by the number of items you plan to sell

This figure will help determine your estimated price per product in order to meet your revenue goals.

Evaluate your competition

The last piece in determining how to price your deodorant is by simply looking at your competition.

The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your deodorant fits best in the marketplace.

All of these factors play an equal part in pricing your deodorant, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.

Lauren Costanza, founder of Bluminary provides us with a detailed spreadsheet of all of her costs associated with running her business:

I knew this would be a self-funded adventure, and I set aside $3,000. During the first three months, I had a detailed spreadsheet where I tracked where the money was going and what was going toward products versus researching and developing new products.

The spreadsheets involved columns and rows of numbers to craft a budget and gain an understanding of how much would need to be invested at each stage of the process - from gathering supplies to building a website, and shipping materials.

article

article

-  
Lauren Costanza, on starting Bluminary ($500/month) full story ➜

Examples of a successful deodorant brand:

. SmartyPits ($2.2M/year)

Stacia Guzzo (from Bend, OR, USA) started SmartyPits almost 8 years ago.

My name is Stacia Guzzo, and I’m the founder of SmartyPits Deodorant. SmartyPits is free of aluminum, phthalates, parabens, and propylene glycol, and we give a portion of sales back to breast cancer research and survivor support.

In the last 21 months, SmartyPits has grown from making under $100,000 in 2016 to making over $500,000 by the end of Q3 in 2018.

how-stacia-guzzo-pivoted-and-started-a-58k-month-deodorant-product

Pat Walls,  Founder of Starter Story

Discover the best strategies of successful business owners

Join our newsletter and receive our handcrafted recap with the best insights shared by founders in Starter Story each week.

Useful, convenient, and free:

Did you know that brands using Klaviyo average a 95x ROI?

Email, SMS, and more — Klaviyo brings your marketing all together, fueling growth without burning through time and resources.

Deliver more relevant email and text messages — powered by your data. Klaviyo helps you turn one-time buyers into repeat customers with all the power of an enterprise solution and none of the complexity.

Join Brumate, Beardbrand, and the 265,000 other businesses using Klaviyo to grow their online sales.

Try Klaviyo for free right now ➜