Monday, February 25, 2008

Having a Hard Time Pricing Your Crafts For Sale?

One of the most difficult things to do is put a price on your hard work. There are several things to consider when choosing a price point.

Cost of Materials. Save your receipts. You need them for tax purposes anyway. Try to factor in the appropriate cost for all the materials that go into your crafts.

Cost of your time. Don't forget to pay yourself for your labor. Keep track of how much time you spend

Cost of overhead. Do you have ongoing business expenses, such as office and marketing supplies? Maybe you have webhosting fees and tools to be figured into your costs. These sorts of expenses should be factored into the price of your crafts. Obviously, you should not expect to recoup these expenses in just a few sales. Rather they should be aportioned over your entire collection for sale and over time.

Shipping Costs. Don't forget the packaging, postage and time that goes into shipping your craft products. Although, this may be a separate charge, it is important to have a clear idea of what these costs are so that they may be accurately reflected in your Shiping and Handling policy or added to the cost of your product if you offer free shipping.

This is just a very rough guide to pricing your crafts effectively. For a more in depth look at pricing strategies download the free guide, Make Your Price Sell Masters Course.

If you are still having a hard time, you may want to head over to Craftster and the Crafty Business Advice Forum and you can ask for advice from other crafters about your website, online craft store and pricing sugestions. The folks over at Craftster are generally fair and honest in their critiques, so you can get a lot of valuable feedback there.

In the card above I used Stampin' Up's Embrace Life set. I stamped the flower first and then blocked it out to stamp the bamboo. I then used water color pencils to color it in.

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