Now Im sure this is a popular topic that has already been talked about, however, I am interested in learning how to price my leather. Now that i have gotten skill under my belt people are wanting to pay for my items.
My only issue is pricing it. I understand the principle of (Material cost x labor x 2) to get your wholesale price and so on.
How do i go about figuring out my material cost? I.E cost of the amount of thread used, Leather size, studs and rivets per each. I buy in bulk so I cant justify making a name tag with one rivet that cost $40 in a bag of 100 or more. Im sure I can price the leather by square footage as well. My thread spools are large so how do i price the amount of thread?
Looking for any advice on this from professionals and trying to turn a profit on my work. Not to make a killing just to continuously fund my work and help it grow.