I'm so glad that I decided to write a post about prices yesterday and feel comforted in the fact that I'm not alone on this one.
I think we could all do with a group session to boost our confidence levels when it comes to the value of handmade. Outside of this post I asked for some advice from a very experienced seller (Hi Sarah!) who is the Oracle (well I think you are hunny) of running your own little business and she reminded me that you have to remember that what you make is designed by you and made by you which is what makes its special and unique.
She also gave me some pointers which runs along the same lines as the method Pinkchalkstudios uses that Rachel mentioned in my comments.
So with pencil, paper and calculator in hand I sat down and started working out materials costings and lead times. I found that for retail prices I was just about spot on and after a good talking to (myself!) I finally got my head round the concept of wholesale, basing my calculations on batch sizes rather than individual items. But at the same time not underselling myself. Nicola (also posted in yesterdays comments) is right, you have to make it worth your while.....there's no point in just cutting even?
Don't get me wrong I love doing what I do and get great creative satisfaction from designing and making my own products but I would love to think that one day it would make me enough to make it a full time job.
Don't forget crafters, we are still in hard times at the moment.......credit crunch.....when will it end? Here's hoping 2010 will be a more prosperous year for us all.
A lot of people have been asking me about the progress to the studio....well unfortunately it is on hold at the moment, Chris is working double shifts and all the other jobs have been left up to me. So please bare with me I know its frustrating (I'm pulling my hair out tripping over craft supplies in the spare room!!).......hopefully it will be complete soon.
This weeks TLBG topic was 'WATER' pop over to the blog to read Rachel's post and visit the other members blogs.
tripping over stuff in the craft room... oh ya! I hear ya lol. I thought that when we moved into this house that one whole room (as opposed to a diningroom table and my bedroom closet) would be a godsend and i'd have oooh so much space for everything. I was so wrong lol. This room needs to be atleast double the size to house all my supplies. Although i suppose if i stuck to one or two crafts instead of my oh, i dunno, 10!? it would be easier. And the funny thing is.. I still find myself at the diningroom table. Huh! :)
ReplyDeleteThanks again on the pricing post. It's made me really sit down and figure out what's worth my while and what isn't!
kat
yes, I pray things get better for everyone.
ReplyDeleteI feel the exact same way about pricing. I haven't had the response to my letterpress work that I thought I would and am starting wonder if it is my pricing or just my designs. Anyway, I have been questioning the same way you have and have not come to a good conclusion yet. Glad to hear that you have and that you are feeling better about this.
ReplyDeleteHandmade is not junk you can buy at the local mega store that costs a buck. I think that the mentality of the world today is like that and the cost of handmade ends up being difficult for some people to wrap their head around that fact.
im glad that you figured out your prices. i dont want to lower your prices at the shop, i think they are worth while...perhaps you could send some smaller things?
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