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GirlFromScandinavia

Im on a seesaw with prices. How much is too much?

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Hi! So ive been at this for 10 years. Ive got my Facebook Mikki House page and ive got over 700 followers. I just cant decide on how much to charge. My customers are mucicians. Im expanding my product line to tobacco pouches and Rock Chick bags..(still not even drawn yet...So im going to show you a couple of picks and you all can comment on how much I could charge for these. I make unique  straps and custom orderd straps. I usually charge 150euros for someone who orders something speciffic from me. Other wise they cost about 100e. Im not even going to talk about the time spent :)...If you feel, id appriciate some guidelines.

thanks!

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I'm not sure what's wrong but your pictures are tiny even after I click on them.

Rodney

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7 hours ago, GirlFromScandinavia said:

Hi! So ive been at this for 10 years. Ive got my Facebook Mikki House page and ive got over 700 followers.

 

When you size photos for here, 800 x 600 pixels is a good size.  Even 1024 x 768 is good.  Small photos don't show the detail you are trying to display.  Too large and it takes a long time to download when you are on the fringes of the internet with a slow connection.

Tom

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Pricing is the part of the process that you need to find yourself comfortable with establishing.  If you are out to do this as a business then you need to think like a business and take EVERYTHING into consideration when setting your prices.  For example, you have your materials, supplies, time, shipping/postage, shop expenses (rent, water, electric, etc.), and everything else that goes into making that one product/item.  Now you have to add in any profits that you are looking to take in (and this requires you to think like a very serious business) and this all comes together to help you lay out your pricing.  If you plan on actually taking some of the sales for your own (paying yourself for your time) then you have to make sure that you are taking a fair wage for yourself which means that is what your labor costs will include (aside from the traditional labor expenses of taxes, payroll fees, insurance/benefits, etc.) as part of the equation.  If you have product that is unique and not widely available/distributed then you have a better chance at setting your pricing higher as you have no real competition for the sales.  

Bottom line is this: if you are in it to be profitable then make sure that you are selling for that in mind; if it is just a hobby then don't worry too much about what you should charge (most hobby sellers set their pricing at just a slight little bit, less than 20%, over the cost of materials) as it doesn't matter if you make money or not, you are just doing it for the fun of it.  If your product/items are available then do some research into what others are charging and compare yours (quality, style, appearance) to theirs and if yours looks better you can go higher than theirs, if not go lower.  There is an abundance of makers selling full-time that put out some pretty cruddy looking work yet have their stuff listed at prices that are above the quality that they put out and they are still selling hand over fist; if you have something better then make money on it and when asked what makes yours better than the other guy?  Just let them know that your product is superior throughout and has been made with quality, design, and aesthetics in mind (it looks beautiful when compared to the lesser versions).

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Thank you Richard! Its really hard when not oriented to sales. Ive looked for help on this area, not really getting any. I guess I need to take time off just getting my sales act together! Thanks for your answer!

Katariina

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You should read a book called The E Revisited. It is a great look at what to expect going into business.

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This is Product Pricing Calculator I just found. Looks good, and seems to work in a few factors on pricing items. I am going to start breaking all my raw supplies into individual unit prices. This will allow me to see how much each product I make is actually costing to produce. This calculator should help in getting the final sale price for you from your figures you get.

It downloads as an Excel Spreadsheet.

http://www.caaa.biz/resources-page/product-pricing-calculator/

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