Margin vs. Markup: The #1 Retail Mistake
The most common pricing mistake new business owners make is confusing margin with markup. Understanding the difference is critical to ensuring your business actually turns a profit.
Margin (Gross Margin)
Margin is your profit as a percentage of your revenue. It answers the question: "For every dollar I make in sales, how much is actually profit?"
Markup
Markup is your profit as a percentage of your costs. It answers the question: "How much did I increase the price of this item above what I paid for it?"
An Example
Imagine you buy a product wholesale for $50 and sell it for $100. Your raw profit is $50.
- Your Markup is 100%, because you increased the $50 cost by 100% ($50).
- Your Margin is 50%, because your $50 profit makes up exactly half of your $100 revenue.
If you want a 50% profit margin, you must apply a 100% markup. Many business owners aim for a 50% margin, mistakenly apply a 50% markup (selling the item for $75), and end up with only a 33% profit margin! Our calculator prevents this mistake.