A minimum price ensures the total price, including full quantity, meets or exceeds the minimum. If the total doesn’t meet this threshold the markup will be adjusted.
Steps to Set a Minimum Price
1. Go to Item Settings:
- Go to the item you want to set a minimum price on.
- Click the item icon to open its settings.
2. Find the Minimum Spend Option:
- Scroll down the unit pricing section.
- At the bottom find and click the "Add Minimum Spend" button.
3. Set the Minimum Price:
- Enter the minimum price in the field provided. For example $1,500.
4. Review the Pricing:
- After setting the minimum price review the pricing.
- Make sure the price to the customer reflects the minimum price set even if the combined unit cost and unit price is lower.
Example
Item has a combined unit cost of $500 and unit price of $714.29. Minimum price set to $1,500. Final price to customer will be adjusted to meet this minimum so you make a profit.