A price chart contains all of the products or services that a business offers, prices and universal product codes for each. Automated point of sale systems contain a computerized list, but it's always a good idea to have a hard copy in the event of a power or system failure and as a resource for double-checking product price points. Each register at a retail store should have a price chart on hand for emergencies.
Set up a spreadsheet document or a chart in a word processing document with six columns and as many rows as needed to list all of your products or services.
Label the rows as follows: Item Name, Item Number, UPC, Cost Per Unit, Markup Percentage and Retail Price.
Type or import each item name, number, UPC, cost per unit and markup percentage. Any business has one or more markup percentages, which is the amount the product is marked up from cost in order to produce a profit for the business. Each type of product allows for a different markup percentage, and businesses with multiple departments may use several markup percentages.
Multiply the cost by the markup percentage to arrive at the suggested retail price. Some products retail prices are fixed, which means they are at the discretion of the vendor and cannot be changed by the retailer. These items should be listed according to vendor instructions.
Save and print the price chart. Keep an extra hard copy in a secure location.
- E. Austin; Retail General Manager; Liverpool NY
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