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Boardwalk :: Forum List Six (6) New Worm Digest Forums 4) Business, Products and Machinery Discussion Forum
vtdubb
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A Fertile Cocoon
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 Bait worms - 2009/05/02 17:52 I am intending to sell worms for bait. How many per container and what do you charge for wholesale pricing? I have a cigarette wholesaler that wants me to provide worms for bait. Probably a good opportunity for me, but I hadn't really done any research yet. I am just wondering what prices other growers are getting.

Thanks!
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wellsworms
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A Protected Species Earthworm
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 Re:Bait worms - 2009/05/02 18:16 how many in the containers he is currently selling?what do you pay forcontainers?
what does he charge retail.?
take the container price off the retail price charge 66% of the answer FEED IT TO THE WORMS
WELLS,vermont
jerry walker 2008
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T Worm Farm
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A Juvenile Earthworm
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 Re:Bait worms - 2009/05/05 09:30 Jerry hit it on the head. retailers in my area sell 30 red or leaf worms as they like to call them for $3.00 to $3.25. So if you price them between $2.00 and $2.15 a cup you would be fine. Nightcrawlers different story all together. Retailers make a little more on them because of the volume they sell, so it would be closer to figure about 58 percent. T Worm Farms
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bangorworms
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 Re:Bait worms - 2009/05/05 14:59 just remember that your price that you sell to a retailer needs to cover all your costs..
including the cost of the bait cup..the broodstock that you purchase( either to get started or to replenish). food that you purchase for the worms.. the cost of the time and the mileage to deliver to the retal location..as well as the cost of recordkeeping and papertrails.. Ie recipet books, licenses,fees etc..
and if you have gauranteed sales the cost of the worms that don't sell.

and it needs to provide you with a profit...

I'm very small and won't be up and running full steam until next year but.. I figure my costs right now are running between 4-6 cents a worm + bait cup and lid at aprox 15-20cents and time to deliver.. so my costs before profit margin are about 1.50 at $2.00 my margin is 25%

as a business man/person you need to charge enough to cover costs and potential losses/upkeep and new equipment as well as mrketing and the like..

don't let your retail accounts determine what you charge for your worms.. you need to charge what you need to make a profit as well.. they understand that ..

jmho... bangorworms
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T Worm Farm
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A Juvenile Earthworm
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 Re:Bait worms - 2009/05/05 22:40 When you say your cost is between $.04 to $.06 a worm that is a huge margine. I think you need to look at it alittle closer. If you sold 400K plus worms a year $.02 difference is $8,000 plus dollars. I know down to the tenth of a penny what each worm cost me. And you are right about not letting retailers determine your pricing but you need to remember your not the only one selling worms. It is very competitive business and in todays economy some shop owners will bargin hunt a better price in place of quality. If you have quality product the'll come back sooner or later a pay what you sould be getting for worms. T Worm Farms
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bangorworms
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 Re:Bait worms - 2009/05/06 06:27 t worm... areed on the numbers..those are a vague range as I do/will have some very large competitors in my area..and quite honestly don't need those numbers completely out in the pubic eye.
thanks for the input..
It was more as an example of what influences your price and your potential profit..
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T Worm Farm
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A Juvenile Earthworm
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 Re:Bait worms - 2009/05/06 22:30 bangorworms, I'm sorry if you think I was cutting into you. I was just responding to your post.

I figure my costs right now are running between 4-6 cents a worm + bait cup and lid at aprox 15-20cents and time to deliver.. so my costs before profit margin are about 1.50 at $2.00 my margin is 25%.

The way it was stated I thought it needed some clarification for vtdubb that's all I was trying to do. vtdubb was looking for some pricing and I thought it would help. Doug T Worm Farms
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bangorworms
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 Re:Bait worms - 2009/05/07 06:40 agreed...no problem at all... I completely understand what you were saying... a succesful business is the the
ability to know where every penny is going and where every penny comes from.
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T Worm Farm
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A Juvenile Earthworm
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 Re:Bait worms - 2009/05/07 21:11 vtdubb, Was your question ever answered on pricing. T Worm Farms
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