How Much???

[chrisash]

It's not how its made or what its made from 

Its all about marketing the company, No top end handbag is worth £3-4000 in top London brands plastered with makers log, they are brought for 2 reasons, one to show off to other women that they can afford, and have done so to other women, and 2nd because the name is famous after the company spent millions building up that name/brand

So my question is how well known is your brand and how much time and money do you spend on marketing the fact you hand make your items out of high quality material that demands a high price,Building a brand takes time and money and not just making a mark on the item

 

 

[chuck123wapati]

4 hours ago, Klara said:

That's the reason why translators charged by line where I trained. The newbies would take longer, the experienced ones would work faster and make a better living, but the customer would pay the same. 

i understand that but i was talking all things even, wages included. 

16 hours ago, fredk said:

Thats why in certain professions the fully qualified practioner charges more than the new guy or apprentice. But it all comes out in the wash; eg pro charges $50 per hour and takes 4 hours, apprentice takes 8 hours but can only charge $25 per hour. I used to see it in my accountants bills; the Fully Charted Accountant charged more but took less time than his assistant whose cost was less per hour, but at the end the cost was very nearly the same

i understand that but i was talking all things even, wages included. 

[Tugadude]

16 hours ago, chuck123wapati said:

i know my daughter is one lol and I'm very proud!! https://twisteddelusionsink.com/ it took a few years.

I like how she also offers embroidery services, so with tattoos, piercings and embroidery there's enough diversification to hopefully keep her business steady.  One of the toughest things for any business is cash flow, so having more things to sell certainly helps.

[Tugadude]

4 hours ago, chrisash said:

It's not how its made or what its made from 

Its all about marketing the company, No top end handbag is worth £3-4000 in top London brands plastered with makers log, they are brought for 2 reasons, one to show off to other women that they can afford, and have done so to other women, and 2nd because the name is famous after the company spent millions building up that name/brand

So my question is how well known is your brand and how much time and money do you spend on marketing the fact you hand make your items out of high quality material that demands a high price,Building a brand takes time and money and not just making a mark on the item

 

 

This is so true.  I've seen (keeping it in the leatherwork realm) wallets and such from some well known brands which aren't even close to being as good as their price would indicate.  And yet they sell them like hotcakes because of the brand.  So yes, brand definitely comes into play.  Add an embroidered dude riding a polo pony to the shirt and suddenly a $30 dress shirt doubles in price.  Much better can be had for less sans logo.  

It would be interesting to hear from some of the members here who have developed brands.  There are several that immediately come to mind.  RockyAussie is one that has a great brand name and a nice website.  I'd say he found a niche and is using that to his advantage.  https://wildharry.com.au/  What a great name for a brand.  I'm sure an extension of the owner himself.

I'm guessing that once a brand is established, a certain percentage of customers become regulars and come back regularly to collect more and more product.  Repeat business is obviously a good indicator that you're doing something right.

[Handstitched]

3 minutes ago, Tugadude said:

a certain percentage of customers become regulars and come back regularly to collect more and more product.  Repeat business is obviously a good indicator that you're doing something right.

Well, after 18 years (  this April)   , I must be doing  something right   

I think this is one of those discussions that will keep going..and going 

HS

[chuck123wapati]

19 hours ago, Doc Reaper said:

This is the shhtuff I hate reading about! If a skrawny, flat chested, ugly as hell hooker went by perceived value the poor girl would starve to death. In the same profession is a Barbara Eden lookalike call girl. She also uses the perceived value method. But not for her - she sets the price by going off the telltale signs of her clients wealth and looks which determine her bottom price (pun intended). 
 

 

 

That MEAN WAGE is antiquated by todays standards. (Sorry Chuck123) that MEAN WAGE is what is equivalent to average of low end hobby compensation to high end quality craftsmanship. Only a cheapskate would resort to using skewed numbers to have you pry a penny from their fingers. There is a difference between hobbyist and professional!

Set this in stone -  material cost + labor = cost. True a flea market won’t bring top dollar but the people at the flea market are looking for USED items with life left in them, new is new and quality is sought after no matter if it’s at a flea market or a department store of a garage sale. I have a both at a flea market. I sell biker leather and custom leather. Folks know the difference when they want a special design that can’t be purchased anywhere else. I have seen 3 other leather shops close at the same flea  market that I’m at. They closed because of their cut throat practices which are fuled by selfishness and greed. Another vendor started selling belts and tried to undersell me, it took them 3 months to fold up shop and leave. They forgot to do the correct math. Materials + labor + lot rent + travel cost + and employee hourly wage

there is a song that states “it cost so much because it takes me effin hours!” And if you sell at an unsatisfactory price you only hurt yourself! Cost of 
materials plus an hourly fair wage for yourself.

Sorry about the hooker thing but thats just the reality of life, pretty hookers fetch more , pretty leather fetches more. some people like red headed hookers, some like western style tooling, people buy what they like if they can afford it then settle for less if they cant.

Mean wage was thrown in there to wake folks up to the fact that there are real jobs tied to this trade and people use the data to run their businesses which you and I  are competing with so yea it still matters.  None of us would hire a person to sew belts on a machine, or run a clicker press stamping out widgets for top dollar that would be just stupid business but we tend to sell our own labor for top dollar no matter our skill level,  experience  or part of the assembly process we are doing whereas a business can cut cost in all those same areas. thus making cheaper products of the same quality.  Thats how Henry ford did it, one person doing one thing cheaper then on to the next guy. LOL all you need to is find someone that will do piece work for sewing and you can save yourself $x dollars a piece on your own time. I guess the simple way to say it is that sometimes we price our own  selves out of the competition but then blame others who can do the work cheaper.

Oh and flea markets rock my friend it wasn't my intention to knock them and i hope you didn't take it that way you just wont get the same selling power in a flea market as you would say a high end store.

[chuck123wapati]

31 minutes ago, Tugadude said:

I like how she also offers embroidery services, so with tattoos, piercings and embroidery there's enough diversification to hopefully keep her business steady.  One of the toughest things for any business is cash flow, so having more things to sell certainly helps.

oh yea now she has a new shop and rents space to other artists, sells vaping goods as well as other odds and ends. 

[chuck123wapati]

So my wife just showed me something on fake book. A page popped up on her fb page of this sweet little old man, standing in his leather shop. His messge is "

Sadly, My wife and I decided to quit. 

Underperforming advertising, over-purchasing of inventory, and a bank account that is running dry; has left us with no other choice but to close up shop for good. My family and I feel defeated because despite our best efforts we cannot profitably run this shop. If you want anything from our store, make sure to order before we close.

We will be closing in the coming weeks, and potentially earlier depending on the inventory stock levels. This is your last chance to shop these pieces before they’re gone for good.

Shop our closing sale before the pieces you want to sell out!"

 

Click on his pic and you go to this site     https://samaye.co/collections/leather-purses

 

How do you price your stuff to compete with total bullshit lies?

 

[chuck123wapati]

back on topic i would charge  60 to 75 bucks for those wallets in my town today, 150 or so at Cheyenne frontier days when it starts up.

[GrampaJoel]

On 3/14/2023 at 10:10 AM, Doc Reaper said:

This is the shhtuff I hate reading about! If a skrawny, flat chested, ugly as hell hooker went by perceived value the poor girl would starve to death. In the same profession is a Barbara Eden lookalike call girl. She also uses the perceived value method. But not for her - she sets the price by going off the telltale signs of her clients wealth and looks which determine her bottom price (pun intended). 
 

China and Walmart have contributed to the “perceived cost” by pumping out cheap manmade materials that do not hold up past a certain time frame. Folks that shop at “Wally World” do not spend time in the better retail shops. Rarely do these folks step outside their own habits of comfort. 
I charge a minimum base price for what I make. It’s usually materials plus labor. I have been doing Leather for 52 years and that “it’s cheap cause it’s handmade” is ignorance trying to get something for nothing. Put a price on it that is worth your efforts. The fence jumping illegals will cut their own throats to get a sale. Keep a firm backbone when it comes to pricing your handmade items. The cut throats will force themselves into a new job and you will still be here with awesome merchandise that is well made and durable for hard work.

That MEAN WAGE is antiquated by todays standards. (Sorry Chuck123) that MEAN WAGE is what is equivalent to average of low end hobby compensation to high end quality craftsmanship. Only a cheapskate would resort to using skewed numbers to have you pry a penny from their fingers. There is a difference between hobbyist and professional!

Set this in stone -  material cost + labor = cost. True a flea market won’t bring top dollar but the people at the flea market are looking for USED items with life left in them, new is new and quality is sought after no matter if it’s at a flea market or a department store of a garage sale. I have a both at a flea market. I sell biker leather and custom leather. Folks know the difference when they want a special design that can’t be purchased anywhere else. I have seen 3 other leather shops close at the same flea  market that I’m at. They closed because of their cut throat practices which are fuled by selfishness and greed. Another vendor started selling belts and tried to undersell me, it took them 3 months to fold up shop and leave. They forgot to do the correct math. Materials + labor + lot rent + travel cost + and employee hourly wage

there is a song that states “it cost so much because it takes me effin hours!” And if you sell at an unsatisfactory price you only hurt yourself! Cost of 
materials plus an hourly fair wage for yourself.

yes absolutely!!^^^^^^^^^^^
 

 

I’m going to be brutally honest here.  Please except it,,, in the kind way I offer it.   As the very realistic old leather worker that  I am. Wanting you to look at reality.

Maybe they aren’t,,,,,but your wallets look like ‘ kit ‘ wallets.
Maybe purchased from a supplier, say like Tandy.

Something a Boy Scout might make as a project.

it’s nice that you have added tooling to the outsides. But your tooling is just in,,,the just above  beginner class of  tooling. 
Look at and compare your wallets to the ones JLSleather posted. Can you see the difference?

As for the price?

I would,,,  ask the price of the cost of the kit.   And be willing to take less, and chalk it up to the learning experience.

So ,,,

I don’t know what others would pay, but I’d say less than $15.00. If I was  a teen,,,Or just a boy looking for a first wallet.

As an old guy that has seen and made from scratch some  ugly,,,,, AND,, some pretty nice wallets.

I wouldn’t pay money  for any of them at all.
But you never know what a person will pay money for.

So keep going, keep making.
 IF,, or,,, AS, you continue to improve. Perhaps one  day people will be willing to pay whatever you ask. No matter what it is.

maybe…..

Joel

 

Edited March 15, 2023 by GrampaJoel