Basics of Pricing Your Work

Everything in this article makes sense to me. My sister wants to start selling her pottery crafts and this would be very helpful.

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My friend and I use to have a porcelain doll shop years ago and we did well at first but then people started to say they could by it cheaper but ours were handmade from pouring the porcelain to adding the eyes and wigs and the clothes wee even handmade but so it was expensive for us too but they were offering them from overseas cheap so we decided to close our store. This is a very helpful to price. Thank you for the great advice.

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im a crafter of many different items diaper cakes wreaths jewelry etc. ive had the same problem as some of the other ppl living in small areas unless you travel to a area more in a city where you do not find home made items then pricing 3-4x the amount just doesnt cut it. but where i have the issues with pricing is the food items i make every where you see fudge being well over $8 a lb. well you can not get that where i live in KY i would do good to get $3 for half lb but if someone really wants it i guess they would buy it.. another think i have a prob with pricing is peanut and peacan brittle i can get 5-6 trays off one batch but its the cost of nuts that i have issues with

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I recently started making jewelry and knitting blankets, hats, scarfs, etc but I don't know how to price my items I don't want to price them too low or too high any ideas as to how to price my products.

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pinpointsm 2734600

Apr 02, 2014

Hi ieshaking You may find this useful to give you a guide to pricing your jewelry and other handmade goods: http: == //www.craftmakerpro.com/a-z-handmade-business-guid == e/key-pricing-handmade-products/

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pinpointsm 2734600

Apr 02, 2014

Not sure what happened there but the link went all funny when I hit submit, hopefully it works this time - http://www.craftmakerpro.com/a-z-handmade-business == -guide/key-pricing-handmade-products/

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pinpointsm 2734600

Apr 02, 2014

oops, I copied teh broken link and posted that. Third times a charm :) http://www.craftmakerpro.com/a-z-handmade-busin == ess-guide/key-pricing-handmade-products/

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pinpointsm 2734600

Apr 02, 2014

Well, seems that doesnt want to work for me, no idea why. If you go to the blog link at the bottom of the page here and search for pricing you should be able to find it. http://www.cr == aftmakerpro.com/

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There is something else to consider - your level of expertise. Are you a beginner or are you an advanced experienced crafter? I think that multiplying by 4 the expenses and labor is a fair compensation for you, and from this total take into consideration if the item is for a friend or relative, if so, you could multiply by three instead.

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I find a minimum of x to be fair You need to make a small profit and to take care of yourself In this economy its really tough but you should know your product and your competitors A three times mark up gives you room to go up or down on your price Always remember that some goods you can do a great markup on and some products you will be lucky to get a x markup but if you do things right you should average out enough to still cover all things and make a fair profit We do not always get what we are worth but be blessed that we have a talent that others benefit from and enjoy Its us little guys that will benefit from the economy in the long run Be customer service oriented and know your products and you will do well Good luck to…Read More all

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I never thought of it this way. There is so much more to consider when pricing merchandise. Thanks for all the great tips!

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Thats all well and good if you live in a big town/city, where people tend to have more discretionary funds. Think 4X's a little greedy-- it would never sell in my area--but more power to you if they'll pay it! I live in a depressed, mostly rural area, so I have to take that into account. I've actually stopped making certain things as they were too time consuming to be able price them anywhere near what my time is worth!! I usually take into consideration what others in my area are pricing similar objects to the ones I want to sell, then my time, materials, and mileage, and add a couple dollars for extra elec. (the elec is running anyway). I find that with all that I still make a decent profit at 2xs my costs.

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HI, I own and operate a leather business andthe method I use most of the times to calulate sale price is to take your cost per item and times it by 4. This usually covers costs, labor, overhead and your profit.

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