May/June 2024 - 33

margin is $1.50. This gives us a 23%
gross profit margin percentage:
Gross profit margin percentage
= gross profit/sales price =
$1.50/$6.50 = 23%.
These are rather simplified
examples and we don't have the
same profit expectations for every
item in our market. However, if we
understand the difference between
markup percentages and gross
profit margins, we can have better
flexibility in our pricing strategies.
Our customers have certain
expectations on the price of our
fruits and vegetables, so we may
not have that much flexibility on
what we can charge. But, if we
can create packages or bundles
with value-added items that we
can have a higher gross profit
margin on, we can increase the
overall gross profit for that fruit
or vegetable.
Understanding markups and margins helps farm market operators with
pricing strategies. Photo courtesy of Brian Moyer.
Brian Moyer is an educational program associate with Penn State
Extension. As founder of PA Farm Markets LLC and founder and manager
of the Skippack Farmers Market, Moyer specializes in assisting farmers
markets, retail farm markets, direct-to-consumer sales, and new and
beginning farmers with marketing, business and regulatory issues.
Available in Turbine and Engine Drive,
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est. 1981
website: www.springbrooksupply.com
e-mail: info@springbrooksupply.com
(877) 396-1956
11291 Lakewood Blvd.,
Holland, MI 49424
VEGETABLEGROWERSNEWS.COM | 33

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May/June 2024

Table of Contents for the Digital Edition of May/June 2024

Editor's Letter
On-farm AI
Advancing research in biocontrols
To price or not to price
2024 Farm Market report
Salinas Valley tech
Fresh Views
Organic Grower
Business
Farm Market & Agriculture
Classifieds
Advertiser Index
May/June 2024 - 1
May/June 2024 - 2
May/June 2024 - 3
May/June 2024 - Editor's Letter
May/June 2024 - 5
May/June 2024 - On-farm AI
May/June 2024 - 7
May/June 2024 - 8
May/June 2024 - 9
May/June 2024 - Advancing research in biocontrols
May/June 2024 - 11
May/June 2024 - To price or not to price
May/June 2024 - 13
May/June 2024 - 14
May/June 2024 - 15
May/June 2024 - 2024 Farm Market report
May/June 2024 - 17
May/June 2024 - Salinas Valley tech
May/June 2024 - 19
May/June 2024 - 20
May/June 2024 - 21
May/June 2024 - Fresh Views
May/June 2024 - 23
May/June 2024 - 24
May/June 2024 - Organic Grower
May/June 2024 - 26
May/June 2024 - 27
May/June 2024 - 28
May/June 2024 - 29
May/June 2024 - Business
May/June 2024 - 31
May/June 2024 - Farm Market & Agriculture
May/June 2024 - 33
May/June 2024 - Classifieds
May/June 2024 - Advertiser Index
May/June 2024 - 36
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https://www.nxtbook.com/greatamericanmediaservices/VGN/april-2020
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