how much?

[rljohn56]

After only doing this for the past 6 months several friends have asked me to do something for them which, by the way, is pretty cool since i have never made anything in my life where i've been asked that!  So i know this is going to be a broad question, but how do you justify an asking price for items made? and what about patterns you may have downloaded?  like i have said before, i'm a newbie to all this.  I have never done this before as far as selling something i have personally made so i don't know how i'm suppose to go about this. Already many in my family are saying to sell my work at markets, etc. which is cool, but i haven't the foggiest idea how to even start that.  So many questions.  thanks gang for the highly anticipated replies. 

[Blaughn]

That is a tough question to answer.  The old adage "If you don't place a value on you time nobody else will." is a starting point.  I know that even if I am doing something I enjoy, I am not particularly interested in obligating my time to others at minimum wage pricing.  If you are still working slowly and anticipate being able to produce a product more quickly as your skill level increases you will need to take that into consideration.

 

When I started my small business - I was told by the Small Business Administration Consultant that my costs for a product (materials, labor, import tax, and inbound freight costs) should be (on average) 1/4 of the asking price. I found that to be very helpful as it helped to cover all of the fixed costs associated with the business.  Remember that machinery wears out, web sites cost money, advertising costs money, craft show booths and space, as do increase complexity tax returns, sales tax filings, social security and self employment taxes.

 

Probably more than you want to hear.  

 

Bruce

[Scrolling Steve]

I do not sell a lot of my stuff,but when i do, i take the cost of materials x 3 ...(10.00 in materials= 30.00 selling price)...I have been told this is not enough by some but it is what i feel good with....Just my two cents...SS.

[Iguanadon]

And another useless adage is ... "What is something worth?  Whatever someone will pay for it."

 

The best gauge will be yourself and a few family and/or friends by simply asking "What would you pay for this if you saw it and liked it?"

 

It's difficult and you may come up with a price and then adjust accordingly.

 

I found the Goldilocks Price for my items so that I sell enough each week that I can restock during the week without being overwhelmed.

 

Good luck with your new endeavor.

[SCROLLSAW703]

think of if it this way, if you don't mind my advice. How much would you pay for it? Try to ask yourself the questions a customer would ask. Then, ask yourself what you want to be paid. Remembering, as mentioned, you've got materials, electricity, etc. involved. Granted, you've only been at it 6 months, but if your work is well enough to impress others that they want you to "work for them," you have made an accomplishment you should be proud of, my friend. Big or small, the project is done by you.

[125 CSL]

Don't know if this is a good idea or not, but as of late I look around the internet for items that are close to what I make then price it about the same.

[ike]

If I have no idea what to charge.  look at the internet to see what things are for sale for, then I take the look to see what most are asking 9 not the overage) and that is what I ask 

IKE

[RangerJay]

Pricing is tough - but one of the key determinants that you identified that seems really important to me is the word "friends" - in this case you might want to consider your own costs (i.e. material) - and add a little bit for the labour (emphasis on the word "little") - then call it a very good day ...... and look forward to the future ..... (their reactions to your pricing will help guide you).

 

 

Jay

Edited January 19, 2017 by RangerJay

[amazingkevin]

After only doing this for the past 6 months several friends have asked me to do something for them which, by the way, is pretty cool since i have never made anything in my life where i've been asked that!  So i know this is going to be a broad question, but how do you justify an asking price for items made? and what about patterns you may have downloaded?  like i have said before, i'm a newbie to all this.  I have never done this before as far as selling something i have personally made so i don't know how i'm suppose to go about this. Already many in my family are saying to sell my work at markets, etc. which is cool, but i haven't the foggiest idea how to even start that.  So many questions.  thanks gang for the highly anticipated replies. 

A professional is any person that gets paid for their work.I'm not greedy .things that take me 1/2 an hour are worth $5.fretwork with 500 plus hole in it and took all day to do I'd be more than happy with $10. an hour.It all depends on your situation.If you need the money desperately then you can't afford to waste your time ,You need to get a good buck for it.I've been in the poor house all my life ,Made an easy minimum 5 projects a day or more since 2004. I can exist on little or no money as i trust in the lord for my bread with water and he has never let me go hungry. I've given away more than i can remember just for little happiness to the recipient and get a smile in return .If someone asks me for some thing Ill charge them but a fraction of what it's worth.I love to scroll.name i charge a $1 a letter if they want one .Intarsia i ask $5 a piece.if there's 25 pieces that's $125.00

[lawson56]

I have been selling for sometime.And I have followed some advice.The same advice given here.Great advice.

[rljohn56]

Thank you, thank you, thank you, everyone who replied.  A lot of what many of you suggested i had run through my mind also, but it helps to get affirmation from those of you that have been doing this a lot longer than myself or others getting into this hobby. 

[ike]

Remember this is a Hobby not a career .If you make a little over cost but enjoyed yourself that is a winner.

IKE

Edited January 20, 2017 by ike

[stoney]

I would just add that if you decide to do custom projects settle on a price or rate per hour before you start.  You don't want a disappointed customer and you don't want to get stiffed.

[125 CSL]

Remember this is a Hobby not a career .If you make a little over cost but enjoyed yourself that is a winner.

IKE

If I look at the time I spend working up something, I have yet to come anywhere near covering cost. I don't look at it as hobby, more like artistic expression which makes it ok for me, I also try to make sure my price is about the same as others in the market, while I do not make a living on it I am sure there are others that do.