Egg prices have soared at the grocery store lately, and their availability is more limited than ever. This has resulted in an unprecedented amount of farmers branching out to get their eggs locally. More customers are great, but pricing out your eggs may have gotten more difficult in the last few months. Let’s take a look at how to price your eggs in 2023.
Research Local Competitors for Egg Pricing
The first thing to do is to note your local competitors pricing. This would include any local egg producers selling from their home, a farm store, farmers market, or to a co-op.
Make sure you’re competitive with them while still capable of covering the cost of things like feed, housing, etc. Don’t fret if you’re not the lowest price on the market – it’s usually a good idea to try and stay in the middle, anyhow. Your competitors may have the lowest price, but if it doesn’t cover their basic costs, then it’s not competitive.
Research National Grocery Store Competitors for Egg Pricing
While it may seem silly to base your pricing off of bigger brands, it can help a lot. Aside from your regulars, other random customers may be more used to seeing the grocery store prices. This is what they’ll be most familiar with, so it’s a good idea for you to be familiar with them too.
Similarly to your local competitors, try to stay competitive among the bigger players too. Also, don’t sell yourself short! Your product is worth as much as people will pay, and judging by those grocery store prices, they might be willing to pay a pretty penny.
Great Resource for Egg Pricing: USDA
This USDA page is a wealth of egg pricing information.
There, you can find national & regional pricing, sales, and production information. If you need somewhere to get started, it’s a good resource to have.
What to Include When Considering Your Pricing
When determining your egg prices, it is generally suggested that you include the following to cover your costs:
- Cost of packaging (cartons, labels / stamps)
- Cost of marketing (yard signs, vehicle signs, digital ads)
- Cost of labor (packing eggs, gathering eggs, washing eggs)
- Cost of feed & chicken care
Places to Sell Your Eggs and How to Price Them
Farmers Market Egg Pricing
Most farmer’s markets charge a small table fee to allow you to sell & provide you with a table or booth. Be sure to factor this fee into your pricing.
Farm Store Egg Pricing
Selling directly from the farm store is a great way to save money, although it may be harder to find customers this way.
Wholesale Egg Pricing
You can sell your eggs for slightly cheaper (a good rule of thumb is 10% off) at a higher volume. Restaurants and bakeries are good candidates for finding wholesale customers as they typically go through a lot of eggs on a weekly basis.
Conclusion
Coming up with a solid pricing strategy isn’t the most exciting task in the world, but it will ensure the longevity of your business. Try and examine your pricing at least once a year, although once a quarter would be ideal. Happy egg selling!