Regarding retail pricing

Legal Q&ACategory: BusinessRegarding retail pricing
Chitose asked 12 months ago

I’m planning to sell some beauty products at my eyelash extensions salon in NY.
How can I decide prices?
For example I bought eyelash shampoo $8 each. (It was sale and actual retail price was about $17)
So can I sell at $34? ($17 x 2) in my salon?

1 Answers
Dave Alden answered 12 months ago

As the owner of a retail store, you pretty much have the right to sell products at whatever price you decide is appropriate. In certain instances there can be regulations that a store needs to be aware of, such as not price gouging (e.g., selling water for $10/bottle after a natural disaster). Another example would be avoiding a perpetual sale, displaying product at a sale price that never ends (then it’s not on sale – that’s the regular price).
So these are some things to think about when pricing a product for resale. But marking up a product that you sell along with your expertise generally isn’t a problem. The customer receives the product along with the service you provide, making them aware of the product and showing your customer how to use it. This is called value-added reselling, which normally is not a problem.