How much profit should I be making from my product?

[Katrina P]

So I'm starting a small online shop on facebook, belieber merchandise, and currently I'm selling shirts. I've only just started and I put up 3 designs already. The printing would cost P150 and the shirts would cost P100. So the cost of production is P250. I set the price at P280 though. 90% of profit will be going to Yolanda victims so I was hoping I'd be able to rack up a lot. My friends are saying that there isn't enough profit so I should raise the bar. However, I think it's already expensive. What do you guys think?

Btw, the currency is Philippine peso.

If you want to check it out: https://www.facebook.com/LBTph

[robert m]

Its more favourable to price high and offer "special offers" or other incentives than to price "low" and then try and adjust the price upwards. Is there any similar type business, even if not for the same product but similar market, how do they price?

Be aware you are covering your costs, that's not profit yet - you need time to do the orders, post and pack them etc which all has a cost associated with it.