Always a very tough subjec to approach when you consider your handmade marketplace. This great thought helps demystify much of what someone should consider when pricing their efforts.
Pricing your handmade products is really, really hard. Not only do you have to include factors like your overhead and material costs, you also have to set a price point that your customers will buy at. Sometimes the true cost of your products and a popular price point don’t match at all.
So how much should you price your products for? Well, lots of crafters use the pricing formula below (transformed into a pretty picture by me) to determine the price of their products:
Setting Your Costs
For an example, I will use my crochet house slippers (click the link to see the item in question) to create a cost guideline. Each pair of house slippers requires two skeins of coordinating fabrics. Say that I spend $6 per skein on something that is mid-range in price, like Patons yarn or Caron yarn – the material cost comes to $12. I generally…
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