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Old 07-27-21, 07:44 AM
  #29  
Phil_gretz
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I'll post a hypothetical scenario for the OP. It's a simply one, really, but it should be instructive in how he constructs his answer.

To idk what to say :

Let's say that you decide to start a home-based business, making a consumer item with your own hands. Let's assume that this item is not protected by patent or trademark, is readily recognizable and there's substantial, but seasonal demand. It'll be those picnic/tailgating boards and bean bags, where you toss into a hole in the board. [the common name is blocked by BF filters, apparently]

So you've decided to make these. You make a few jigs, a template for cutting the hole, buy a bunch of fastener inventory and 3/4" plywood and 2x4s, and come up with a way to find customers: county swap meet, local trader ad and Facebook Marketplace. You come up with a distinctive paint/emblem scheme. You embark and build your first ten, but plan to build 100 and then expand your sales to out of state.

Now, how do you price your first 10 units? What about units 11-100? And beyond, if you're successful, what additional factors will influence your price? How would the COVID shutdowns and production interruptions have influenced your business?
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