How to correctly price Edibles by dosage? I guess it relies on location but what are the averages and formula to the price?
Cheaper and better than the competition, its universal wherever you live
^ 100% guess I could of figured that out. Don’t want to derail the thread but I made bears at 50mg each. I ate one and was blown out. What’s a standard dose for casuals?
In a medical only state its anywhere from $0.05 to $0.10 per mg depends on a lot of factors.
If its a single item like a brownie, 100mg should be around the $5 mark. If its 100mg of pieces like gummies or hard candies, u can probably charge closer to $10. I honestly wouldnt sell anything lower than 100mg thc per package. Ur gonna be waisting alot of packaging.
Obviously if your using truffle oil or madgascar vanilla your going to have to price it higher.
Something like cotton candy, i sell for $3-5 each. Takes me about 20 seconds to make and package each cotton candy. And material cost including cannabinoids is about 1 dollar. So in an hour(if i was going slow) i can make 120 cotton candies that can profit $2-3 each. Ur looking at $200-400/hour profit if u can sell em all in one go at that rate. They can easily retail for under 10 and retailer makes 100% profit.
Gummy bears at 50mg each is quite high. You will probably want them at 5mg each and throw 20 in there and just make it snack sized bag. Or throw 200 in there and call it the “bulk” bag
THC or CBD?
3-5x what the same mg dose would cost as flower or concentrate.
Page 8 has a market price equivalency section. Then page 36 has price comparisons. It is about 5 years old, so prices are high, but it should give you an idea on how to price stuff compared to non- edibles.
Some states have laws that a edibles package can only have 100mg total, and each individual piece 10mg THC. Lame, but important to know if you are in one of those states.
Imo a better comparison would be distillate prices, since thats the best/easiest way of making edibles…
I’ll just drop this Illinois adult use menu out here so you can see the extreme variance state to state .
$35 CBD dominant gummies.
$70 for a half gram live resin cart… https://illinoissandp.com/wp-content/uploads/2020/01/1.26-SPRmenu.pdf
Standard retail prices here in CO for a Rec market 100mg edible are 10-20$
Competitive market pricing, but of course factor your total cost to produce and apply an acceptable margin for you. There are many variables that affect your overhead. There are basically two thoughts to being profitable:
1 - Undercut your competition and make your money on volume (this is entirely labour dependent, do you have the support to produce 20 000 packs per day)
2 - Develop a higher quality product than your competition and charge more.
Of course, you can just copy your competitors and try to take a piece of the pie, but it’s much harder when you’re up against long time players.
THC or CBD?? Also, where are you located?
I am in CO, grow, and just started to dabble in tinctures and edibles. I am trying to figure out if gummies are even worth the time to make. Not sure how to sell them in a state where it is legal. I know my Momsaid that in Florida they are outrageously priced compared to Gokorado. I look on line but honestly the price range is like a high school bell curve that every student in the CV class has decided to fuck with… no curve of the bell sort.
If you can’t sell your edibles for 5 dollars than its not gonna be successful in my opinion
I make 150- 500 mg servings for 5 bucks
No matter what, if you manufacture something, you have to sell it for 5-10x your cost of goods, labor and operating costs. There are razor thin margins in retail, you are a producer/supplier.
Best advice ever
I charge 5.00 per brownie (80mg), and if/when I get my gummy bears made, those will be 5x 10mg bears for 5.00.
Shit, most people still run the 100% markup on retail products. Most of the time retail does better than the manufacturer. dont go too low and try to get the retailer to do less than 100% markup.
If i slanged gummies it would be packs of twenty, 10mg each for 5 bucks, wholesale, 10 or less retail. Thats like $1.5 for distillate
$1.5 for materials, packaging and sticker
$0.50 or less for labor
That 100% markup gets eaten into very quickly, not to mention discounts to show price advantage on standardized products like CBD in a competitive market.
This, all day long. Price products according to the local market.