Comments on: How to price items you produce or make https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html The small town and rural business resource Wed, 27 Aug 2014 12:51:13 +0000 hourly 1 By: Amber https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html#comment-41441 Wed, 19 Mar 2014 15:06:21 +0000 http://smallbizsurvival.com/?p=6171#comment-41441 In reply to Becky McCray.

Great ideas, Becky! We have our town fair coming up in a couple of months that closes off main street to traffic. Might be a good time to get a feel for my market!

]]> By: Pricing News Daily > 3/19/14 : Pricing News https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html#comment-41433 Wed, 19 Mar 2014 13:21:57 +0000 http://smallbizsurvival.com/?p=6171#comment-41433 […] How to price items you produce or make | smallbizsurvival.com […]

]]> By: Becky McCray https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html#comment-41245 Tue, 18 Mar 2014 16:45:00 +0000 http://smallbizsurvival.com/?p=6171#comment-41245 In reply to Amber.

Amber, you’ve tested your approach and it worked for you. That’s a good approach, then, in my book. I do like to see people build their profit in even at the wholesale price. That’s only fair to yourself.

On the getting started question, starting with classes is a great place to start. Don’t jump into your own store too soon. Look for ways to start your retailing in stages or steps. You mention traveling to shows, and you can also try a pop-up or temporary store, partnering with another artisan or crafter to share space, or working with another business that maybe is completely unrelated. Maybe the local real estate office has more space than they need for a lobby, perfect for your display!

]]> By: Amber https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html#comment-41226 Tue, 18 Mar 2014 13:27:39 +0000 http://smallbizsurvival.com/?p=6171#comment-41226 Pricing your handmade product IS the hardest thing! Your formula is a good one! I took a business class and she kept talking about selling Wholesale which is something I just couldn’t bring myself to do because there is no profit in that as opposed to Retail (and as a one woman production that didn’t mass produce anything, it just wasn’t feasible). You put the same amount of time into a piece regardless of how it sells. In my boutique in CA, I priced for the area, similar goods and what people were willing to pay. I had other Boutique owners buy from me, paying full retail, to re-sell in their upscale Boutiques in bigger cities. Husband and I had many debates about raising prices because of that BUT my products MOVED and my repeat customers shopped more frequently because they knew my merchandise moved. I feel I was the winner. I wasn’t discounting my product for someone else’s benefit and my bills were being paid and I had money left over. My logic might not work for everyone or may even cause a few eyes to roll but it worked for me and I created a solid customer base. I haven’t reopened my business yet since our move to AL but I will in the near future. Still weighing the pro’s and con’s of a brick and mortar, which our little town desperately needs (but I worry about making it) or starting with e-commerce and having a traveling Boutique (shows) like I did when I first opened my business. I’m having my husband build me a studio in our backyard because I have been asked by several people to teach a class on painting techniques. I’m pretty sure that’ll be my starting place. :)

]]> By: Becky McCray https://smallbizsurvival.com/2014/03/how-to-price-items-you-produce-or-make.html#comment-41059 Mon, 17 Mar 2014 21:15:58 +0000 http://smallbizsurvival.com/?p=6171#comment-41059 My friend Eric Brown commented via LinkedIn:
“Ah, pricing our product offerings and wares, perhaps the most difficult piece to business, as we have a tendency to way underprice.”

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