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What percentage of profit should I aim for?

I am making gifts to sell on Etsy and am wondering what I should price it at. I thought it was calculated by cost of materials multiplied by what percentage you want to make. Some one told me profit should be ten times that of the cost of materials, but I can't justify selling something for $50 if the cost of materials was only $5.

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Melissa Propp (mpropp) says

3 years ago
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