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Pricing

One of the tough decisions you will have to make is how much you will charge for your product. After all your work making them, you don't want to give them away, but you don't want to price them so high they won't sell.

Let me start with a personal pricing problem I had. I designed an "old crow" lawn swinger I thought was really nice. I gave him a 3D face and spent about five and a half hours making and painting him, I thought he ought to bring a handsome price, so I started the price at $20. This was a few years ago, but at the craft show that started at 9am, I had received a lot of compliments but by 1pm I had only sold one of them. My grandson assistant suggested lowering the price to $15, the price of some of my other swingers.

We argued awhile, and agreed on trying $17.50. From then to the end of the show at 4pm I sold 3 or 4 of them. Not really that much price difference, but it worked. I kept that price and at later craft shows sold out over and over!

Another way to look at it is that you could charge $50 for something and sell one (or none) all day, or maybe charge $15 for the same article and sell 4 or 5 of them. Look around at what the other people are charging, and how their sales are going, get some ideas. How much would you be making just sitting around watching TV? Doesn't $3 or $4 an hour making something you enjoy making sound much better? But...

If you try to put a figure on how much you are making per hour of work, it just doesn't get it. Of course you don't want to sell yourself short either, if it is really worth that much and you can't get any sales, maybe you should try selling in stores on commission, or something else.

Don't expect to get high end "store" prices on anything, and don't be too willing to let people "dicker" the prices down. You may want to give a small discount if they buy more than one item, of if you are selling to another vendor, that's up to you.

Leonard Wardle, 1412 Virgil St, Las Vegas, NV. 89110
702-459-4486
Copyright © 2006 Leonard Wardle, All Rights Reserved