How much would you sell this belt for?

[RSmithLeather]

I'm  new to the the leather game and want to charge enough to make a profit, however, I like to hook people up with one of a kind items affordably.  What would you sell this for?  It took me 4 hours to tool.

[NVLeatherWorx]

Well, that would depend on how serious you are with your future in this craft and how much profit you want to make from your items.  If you are going to approach it as a hobby then you won't be as concerned about profit and paying yourself for your time but if you are taking this to a business level those things will change; they have to.

If you just want to sell you works for the cheap, which really undercuts those who are in business for a living, then you would most likely want to drop this into someone's hands for around the $60 mark; if you are a businessman who actually intends on making a living on your skills then you would be moving this belt out the door closer to about $175 or maybe even more.  As a hobbyist you just want some money to buy more stuff to work on and maybe get a fast food lunch while out and about while as a businessman you have to make sure that your wages (and associated expenses) are covered plus you materials and all of the other things that go into being a business (fees, licenses, operational expenses, taxes, etc.) and you have to also ensure some profit in there to keep yourself in stock with leather and what it takes to make more things.

Only you can determine what your worth and it should be based on what your intentions/direction are going to be but be honest with yourself about it and ask, what would YOU pay for a belt like that knowing what you do about how it is made and what went into it?

[RSmithLeather]

That makes perfect sense.  I will take your advice into serious consideration.  I can't express how grateful I am for the guidance, I don't know any serious leathercraftsmen to bounce ideas off of yet.  I've been on my own so far on this endeavor.  Much appreciated.

[Stetson912]

I'd listen to NV,  that's right in the ball park of what I'd recommend myself.

[OLDNSLOW]

you don't have listed what your location is, and It really makes no difference how much competition you have, if your work rises to the top among that competition, but one thing to go by as a rule is that you can only go as high as your market will bear.  I hope some of that made sense, prices can be all over the ball park and you cant really go by what others have to say, you have to figure out your own market and who you are marketing to.  Take Stetson for example his listed location is the Southwest.  Depending on where exactly that is, is going to help drive the price of his goods, but also like NV said if this is going to be a thriving living business you cant be afraid to charge what you think your product can earn, but DO NOT GIVE IT AWAY!

[RSmithLeather]

Thanks man, I'm located in Erie, Pa.  There are very few people (if any) hand tooling belts like this in the area, so I don't have any local people to compare prices with.  I think this is a great business opportunity for me, providing local products for people who would otherwise have to order them online and while traveling.  Much appreciated!

 

[Stetson912]

Yup all good points, I'm about Midway between Tucson and Phoenix in casa grande AZ. And while I don't see many hand made leather goods or leather workers I know they are out there. There are a few on this forum. And not to mention Bob Park happens to be in Phoenix. So, my goods may not be priced as high because of the demographic and culture (rodeo and ranching and what have ya) that's around here. Not to mention the fact that...I'm NOT Bob Park's haha! Whereas you could sell yours for more because you happen to be one of the few doing it in that area. But, none of it means beans if no one wants it haha! But u ain't gotta worry about that do ya!

There's a lot that goes into pricing but like old n slow said don't give it away, it took you time and money to make. As a hobbyist I say cover expenses and add a little extra but stay in the fair range 60-70 bucks, but if you're trying to expand add 100-120, you could probably get more. It looks like a good product. 

[RSmithLeather]

I'm grateful I found this website and forum, great information from people with experience.  Tell you what, I'm getting orders left and right just by posting pictures on facebook haha.  Now people are asking for wallets, bags, tool belts, repairs, I'm pretty amazed that things have escalated this quickly.  Pricing will get easier as I research more and more.  Learned a ton in just 8 months.  Leathercraft is some cool stuff.  Right off the bat expenses are pretty high to get all the tools, leather, and equipment, but now that I'm there, I'm excited for what's to come.  Thanks again and God bless fellas. 

[NVLeatherWorx]

10 hours ago, RSmithLeather said:

I'm grateful I found this website and forum, great information from people with experience.  Tell you what, I'm getting orders left and right just by posting pictures on facebook haha.  Now people are asking for wallets, bags, tool belts, repairs, I'm pretty amazed that things have escalated this quickly.  Pricing will get easier as I research more and more.  Learned a ton in just 8 months.  Leathercraft is some cool stuff.  Right off the bat expenses are pretty high to get all the tools, leather, and equipment, but now that I'm there, I'm excited for what's to come.  Thanks again and God bless fellas. 

And this is how it starts; it did for me over 40 years ago and I have also taken my work overseas (stationed in Germany from 82 to 95) and made things while I was there.  I now have wallets, belts, and even some saddles and Rodeo gear (yup, did that too) littered around the world.  I do maintain one major rule now though and that is:  all carved & tooled works are by custom order only now because it just ain't worth the time to make a bunch up for "show and tell" anymore; just have may picture portfolio now and it does what it is supposed to do, get customers.

Keep up the good looking works and don't hesitate to share some more with us.

[GoatsnThings]

 

On 6/24/2017 at 8:45 AM, NVLeatherWorx said:

Only you can determine what your worth and it should be based on what your intentions/direction are going to be but be honest with yourself about it and ask, what would YOU pay for a belt like that knowing what you do about how it is made and what went into it?

I find this very interesting lol I origionally started a whopping year ago so I can make higher quality stuff for the price of material for my motorcycle rather than buying generic massproduced stuff that lacks the quality and origionallity that I want. So, I started to avoid having to buy several hundred dollar seats and stuff. What position does that put me in? lol I can't really ask what I would pay for it because I started so I wouldnt have too lol

 

[billybopp]

12 minutes ago, GoatsnThings said:

I find this very interesting lol I origionally started a whopping year ago so I can make higher quality stuff for the price of material for my motorcycle rather than buying generic massproduced stuff that lacks the quality and origionallity that I want. So, I started to avoid having to buy several hundred dollar seats and stuff. What position does that put me in? lol I can't really ask what I would pay for it because I started so I wouldnt have too lol

Yeah ... that's often how it starts.  LOL.  By the time you've got the tools and materials you need, count in the "waste" material that you use in the learning process and everything else, you often find that you've spent more than you would have to just buy something to begin with.  BUT, then you wouldn't have had the joy of learning a new skill nor the pride that you take when somebody says "that looks great" and you get to say "THANKS, I made it myself".  You can't put a value on that!

 

On 6/23/2017 at 9:33 PM, RSmithLeather said:

 

I'm  new to the the leather game and want to charge enough to make a profit, however, I like to hook people up with one of a kind items affordably.  What would you sell this for?  It took me 4 hours to tool.

 

 I can't give any specific advice on pricing, but don't sell yourself short.  That's some beautiful work, and if it only took 4 hours to tool you've got some skills.  Also, I'd suggest that you keep in mind all the other sneaky little costs involved.  It could take another 4 hours of work to produce a plain belt with no tooling at all, once you take into account the time to track down and buy materials - leather, dyes, hardware, thread, tools, paper towels, etc, cut the leather to size, dye it, finish the edges and do all the other things just to make a belt - particularly if you aren't geared up for semi-mass production.  If you're doing this as a hobby for beer money that's plenty to keep in mind to help you think about pricing and profit.  

As NVLeatherWorx suggested, as a business there are other considerations.  And there are a number of threads on this site about that subject.

While I haven't done leatherwork as a business, I have run other businesses from home - and there are a number of other things that you can think about.  To name a few, tools, workbench, educational material, and other capital investments,  If you have a shop, rent and such are pretty obvious.  Working from home, if you have a dedicated workspace you could include that percentage or your home value as an expense( and you can deduct that on income taxes too), heating, cooling and lighting (also deductable), water and soap that you use to clean up (small but there),  Bigger expenses could include health, business, and a portion of homeowners insurance.  All that in addition to the above materials costs! There are others, but this will give you some food for thought!

Bill

[NVLeatherWorx]

2 hours ago, GoatsnThings said:

 

I find this very interesting lol I origionally started a whopping year ago so I can make higher quality stuff for the price of material for my motorcycle rather than buying generic massproduced stuff that lacks the quality and origionallity that I want. So, I started to avoid having to buy several hundred dollar seats and stuff. What position does that put me in? lol I can't really ask what I would pay for it because I started so I wouldnt have too lol

 

If you are making things for your own use then it doesn't matter what you would charge for it because you obviously aren't going to buy it from yourself.  This information is directed at those who are making things for other people, not themselves/personal use.  If you were to start getting requests from others who see your new leather gear though you would find yourself sitting in this same boat and wondering what to charge for it and that is when you can gain some insight from what we have provided as a response to the question.