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to Price Your Handmade Crafts
of the biggest questions that I got asked when I was heavy into crafting
was how to price my handmade crafts, quilts, and dolls. Making and
selling your own crafts has it's benefits. If you have a unique craft,
price it right, and market it successfully, it can make a great profit.
There are many suggestions and books that you can read on the subject and
I recommend that you do. I will share my 25 years experience of what
worked for me.
There are a couple
of ways to do this and you need to do what works best for you and your
business. First of all, in general, a basic business equation for
pricing crafts would be to take the cost of the materials that it took to
make the craft, and multiply that number by five. This will give you
the selling cost of the craft. Here is an example.
snowman cost me about $6.00 to make; this includes the fabric for
the doll, stuffing, carrot nose, fabric for hat, fabric for
pants, fabric for scarf & top, greenery on his hat, and the big rusty
bell at the end of his hat.
sell this doll for $28.00
Now, there are some
things I need to ask myself, like would I pay $28.00 for this 28"snowman
doll, and yes, I would. This doll happens to be one of my biggest
sellers, so I feel I priced it just right.
This is not always
the case. Let's say I made a beautiful 48" X 36" quilt, bought great
quilting fabrics, used the best batting, had it quilted by a professional.
The cost to make my quilt and have it quilted is $75.00. That would
mean I would have to sell a 48" X 36" quilt for $375.00. I would not
pay that price for a small size regular quilt.
Another way to
price your handmade crafts is to take the amount that the craft cost
to make, and then add what you want as your hourly rate to it.
Let's take the quilt for example. It cost $75.00 for
it took me 6 hours to make from start to finish. Let's say I
wanted my pay to be $10.00 an hour ($10. X 6 =$60.00), then I would sell the quilt for
$135.00. Now I would pay $135.00 for a small quilt, but not
the $375.00 as stated above.
|Another great seller of
mine was my "Thumpty" snowman doll. They are shown in this photo on
the top shelf, the three snowmen with the big hats, handmade corn pipe
in their mouths, and handmade broom in their hand. I rubbed cinnamon
on my handmade Thumpty snowman doll to make them look old, primitive,
and smell good. These were my second biggest selling winter fabric
craft. This doll cost about $8.00 to make. I sold Thumpty from $28.00
- $32.00. If I was in a home craft show that took 25% in my sales, I
raised my price to $32.00 to make up a little bit of the difference.
This is a preference of the crafter, if they want to do this. I
If people seem to
love your craft, quilt, or product, but aren't buying it, then you need to
somehow find a way to lower the cost. Maybe you could find cheaper
sources for your materials and supplies, or find a way to make it faster.
sure every craft has a price tag. I not only made crafts, I also shopped
and went to every craft show I could, and I still do. I love to support
the arts and craft industry whether through this website with free ads for
crafters and artists, or by going to local craft shows to buy gifts for
family and friends, and things for my home decorating. One of the most
annoying things to a shopper is seeing a craft you'd love to buy, and
there is no price tag on it. Sometimes I'd ask, and other times I'd walk
away just wondering whether or not I really could have afforded it. If
your craft does not have a price tag on it, you could lose a sale.
In general, only you
can find the best way to price your crafts. After all, it is your
idea, your money spent on the supplies, and your time making the handmade
crafts. I would also like to say don't cut yourself to short and do your
"work for free" as we say in the craft business. It is a handmade
item that you took the time to make and you should be paid for it.
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