I'm having trouble figuring out how to price the aprons I'm making. I've seen hand-made aprons sell for as little as $10 and over $40. How do you price yours? What would you be willing to pay for one?
Thanks for your input.
Faith
"All television is educational television. The only question is, what is it teaching?"-Fmr. FCC Commissioner Nicholas Johnson
Hi Faith -- this is a question that we all stumble over. One thing to remember -- don't sell yourself short!! So often we think "oh no one will want to pay that much what I've made." I try to take the cost of my materials, mark it up 40%, and then decide how much my time is worth and how much I've put into the item. Then I add the labor to my materials to come up with a price. Anyone that appreciates quality, handmade items will be willing to pay. Are you going to be selling online? If so, then you need to figure those costs in too. Hope this helps.
Figure out the cost of materials. Give yourself a "wage" per hour. Give yourself a certain %age of a mark up.
ex. MAterials = 8.00 Time = 1.5 hours at $10/hour = 15.00 20% markup = 4.60 (15+8=23*.2)
Total Cost = 27.60 and I would probably round to the next dollar so $28.00 for this apron.
This is how I figure all my prices. I actually have a different markup for different items. I do a lower % markup for my iPod covers than I do for my bags and totes. Also if you sell online you want to add in any listing or final value fees to the total price.
MAybe you do! Most of what I do I can do sitting in front of the TV or out on the porch and I can do it without htinkig so sometimes I feel like $10 is too much. There are other times when I have a big order that has to go out in the morning and I feel like I should be getting $50 an hour!
Great advice on pricing. It is hard to figure. My husband has really gotten on me about offering wedding flower discounts to friends/family. There is so much work that goes into it! I tend to be more soft hearted than shrewd when it comes to pricing! Ann http://annforrester.tohe.com
Pricing question
Posted - Sep 28 2007 : 10:18:27 AM
