How to Price Your Products to Sell
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- Опубликовано: 21 июл 2024
- In this video, I'll discuss how I've been successful with determining pricing. Pricing is a hairy topic and really just depends on a lot of factors, so I'll guide you through determining those factors and how to come up with your own pricing!
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I hate that we have to give disclaimers for the difficult viewers. I'm here for the tips. Thank you for posting.
I agree 100%
@@catwomanvl05 thank you Cat 🥰
Agree...
Well said, thanks! I also do sewing/simple alterations for people. If they roll their eyes at my price, I remind them I pay about $40/hr to have a 20-something with 1-4 years experience cut my hair. And how much many women spend at the hair salon...repeatedly! I had one woman look pretty sheepish after I used that comparison.
Yep, I get ya. I occasionally commission knitted items but less and less, not worth the hassle. I had a coworker, she saw a hat on Instagram, it was a pattern. She asked if I could make the same exact hat, in same exact yarn, for 25 dollars. Lol, the pattern alone was 11 dollars, 40 bucks for the yarn, 6 bucks for the fur Pom Pom and my time. I directed her to Etsy, where people were selling them for 75-80 dollars. 😒
Great point!
age being unreasonably linked to skill is disappointing and unnecessary
I use Paper & Spark's Inventory and Pricing spreadsheet to track my inventory and come up with pricing. It's not that expensive and she will update the spreadsheet indefinitely. I don't always use the suggested price, but the inventory system and cost of materials calculations have been invaluable. I usually use the 3x the cost of materials pricing method too.
Sounds like a great resource!!! Thank you for sharing!
This is incredibly helpful info. I have the wages per hour perspective of someone who's worked in skilled science and technical positions., as well as health care. Once I started thinking about my sewing machine and projects as being very similar to the challenge of the specialty machines I've worked with. , it got a lot easier for me to start planning the construction of a simple but quality bag, much less try and sell them as a side hustle. I'm working twoards that bigger goal. Even though I'm in early days, I am quite interested in supply management as part of learning when something is a good deal for a quality product, and as a way of staying on top of spending for a new hobby.
Working with fabric is so intresting and there is so much to learn. Just did a deep dive on dyeing and feel pretty competent about it. Am giving macrame and weaving a go also.. I've been recovering from acute and chronic illness for the past five years, and it seems now my health has grown, my interest in challenging myself has returned with a vengeance. I'm sorry for yammering so much, it's just I am grateful
Great information and your presentation is always a nice mix of valuable info and humor. I’m a fan!
I truly appreciate you taking the time to share. Marvelously helpful!
Great tips! I have bags that I make (don’t have a business, but I do sell some bags) that have my own embroidery design. And no one else has this design and can make the exact same bag. So I charge extra for my creative 😁
Spot on! I've been running a small business for 32 years, and I price my products and services exactly the way you describe. I'm not wealthy, but very content. And I love those characters I call customers! Thank you for this video... I feel validated. Lol. You are so funny! And it's pronounced phonetically kla-MAA-tus.😁
I might just start calling it the "Cleetus" because I can't seem to ever get it right!
Great advice frank and honest and extremely helpful for new start ups. Thank you
I love the lighting in your studio ❤️❤️❤️
Yay! I’ve been watching your channel all afternoon and was looking forward to watching you on twitch then realized it’s Wednesday 😅 So happy I found your channel!! I’ve learned SOOO much!!
Haha woot! I'll be streaming embroidery Thursday night!!!
Thank you for this video. I’m just getting started and you breaking down the pricing like this helps tremendously!
I took notes! Thank you so much for this. Really helpful video.
This video was very helpful. Thank you so much!! You gave me some pointers I hadn't considered 💙💙
Thank you so much for these business advice videos. You really are giving me the confidence I need. Along with great information!
Love your attitude about confidence in pricing. I have found that it takes me far more time to make the first bag of a design than it takes to make the tenth bag. That's why I've decided to stick with three or four different designs, and try to get really efficient at making them. I'm also trying to figure out a good assembly line process for myself...pockets this morning, zippers this afternoon, etc.
So right...hone in uncertain designs that you know you can do well. Great advice
Yes! I feel like I need to do a whole separate video on the production line sewing. Like have 3-4 clematis (I know, small number for demo purposes) setup and walk through what I do for each.
@@fiercekittenz inwould love to see your take.on production line sewing. Also on how to develop a signature product line!
Production line sewing video advice would be super helpful. I have been taking your videos and making notes about the advice for when I get to where I can and want to start selling.
Super helpful video! Thank you soooo much!
Thank you so much for your advise, I thought it was very good. all your videos are great.
One minute in...I love you. I've watched many of your tutorials as a beginning sewist and I have an existing crochet business which isn't super successful. But once I found this video I was like omg I hope this helps because I really really struggle pricing my stuff!!! I know how hard I work, but I always question whether my prices will baffle people or make sense to them lmao!
Thank You so much for explaining all these areas..
Keep up the great work..
Great info for pricing items!
Hello I am a bag maker from Trinidad and Tobago and this video have really helped with pricing and how I need to re look the way I price. Excellent information and I was able to relate it specifically to bags 😊
I take commissions for digital art + fursuits and THIS 100%. I'm lucky in the sense that my clients know that these prices are set to be a fair wage for me.
A big factor for calculating longer + more tricky projects is ensuring your hourly rate includes charging for your experience. Someone who's been sewing for 1 year is not going to have the same neatness and quality as someone who's been sewing for 10. A thing to remember is that you're charging not only for your time, but your EXPERIENCE. Yeah a big name fursuit maker regularly charges upwards of $10k a fursuit, that's because they've been doing it for 12 years!
An fur suits are no joke! They’re super complicated to make AND not to mention the materials costs. I admire the skill it takes!
Thank you for the video and great info and very much in line with what I do! For a shipping tip, if you or have any friends or family that works for a company that get a lot of overnight packages, get the leftover boxes from Amazon, USPS priority, FedEx or UPS, also recycling bubble wrap by cutting away any worn or torn parts. You can buy a cheap roll of brown shipping paper and glue it over the box to hide the original labels, not to mention, you can claim it as "your own packaging" which results in cheaper FedEx and UPS charges, because they will charge you to use their "free" boxes. For the majority of my shipping, I just use the Flat Rate boxes for USPS and it keeps shipping charges reasonable for most people.
Excellent info, extremely helpful
Thank you for posting. It was very helpful.
Hi Fierce! Really great information. Thank you! I generally don’t sell my wares but I once fell into a big doo doo pile of poorly priced wholesale that I regretted fully. Wish I had gotten your advice before that happened. So thank you- sister imposter (aka Baggerpatz)
That was very informative and well explained, thanks
So much to learn.
We're so much used to capitalism and other people deciding how much our time is worth that we don't feel confident asking for a satisfying price
Thank you for sharing your knowledge 🌸💞🌸
You are great. Thank you for your explaination. Im from Kuala Lumpur Malaysia
Thank You!
Amazing info thank you 🙏 my biggest prob is pricing my stuff , lie I said ppl hear handmade n think cheap; but it’s not cheap, just cuz into not “ name brand” but ppl think otherwise n then u feel bad charging the prices we do :/
Those people aren't your customers. Period. If they can't respect the pricing, they don't respect the work that went into it.
I have always struggled to price the things I make but your advice helps, thank you. Very annoying though having 5 or so interruptions during the video for ads.
Oh I'm sorry. I didn't know it was THAT bad... yeesh. I'll look into how to dial it in better. I just hit "please monetize so I can afford my machine payments" and that's it.
I realize this is an older video, but I just found you (randomly, of course!). I'm wondering what eCommerce solution you use, and how well it works, and how easy it is to implement and maintain. Loving your content, and I just subbed!
Don't worry! I still pop through comments and answer people when I can regardless of the video's age! I use Shopify. I love it so much more for what I do. I had Squarespace before, and it just didn't gel with the digital file delivery. It was a pain. Shopify has been very smooth for me.
Thanks for such a great video!
Hi great video thanks for sharing .
I would suggest you also consider a few other things. Do you have insurance on your machines (what if there is a power surge and all your machines are damaged)? Your shop/office? What if there is a fire and your fabric/supplies are destroyed?
Do you have to drive to pick up supplies/fabric?
Do you spend money on advertising/web sites?
All this adds costs to you. And to your product. It would be smart to add a little “service fee” or what ever you want to call it to help cover some of these items.
Also, if you are making money to help support the family, you may need to look at income protection. Can your family make it if you are suddenly hurt and cannot sew for 3-6 months? This cost should also be a part of your service fee.
I know someone who is a seamstress/custom dress maker. She even has to carry liability insurance should someone slip/fall while they are at her shop (yes someone did). Most homeowner’s insurance will not cover those kinds of things if you are running a business out of your home.
It may only be a few dollars, but it adds up over time.
Absolutely. I sell things in a shop. She does all the marketing and does it well. But she recently upped her commissions from 20% to 33%. After backing out cost of supplies, my time, etc- I am wondering if I should continue with her.
Be the Coco Chanel! Thanks for the insight. Good information.
Thanks so much, big help, beginner sewer, im sewing pouch, small sling bags ang cp case out of our native ethnic weave fabric, from Benguet, Philippines.☺☺
Do you think you will do a video of patent, copy right and trade mark for bag style?
Because i am worried about it going good in my page for example and then i get a letter telling me to shut down and etc. Thanks for your input and i LOVE to walk your videos while having snacks in the morning 😄💕
Thxs I need that, pricing a T-shirt was killing me
Much appreciated.
Thank you!
Really enjoyed this video! I include everything even the packaging logo & thank you stickers😄 I wish I could include free Etsy shipping cost, but think final price would be so overpriced. Have you experienced that?
I have, sadly :( I do not like the way Etsy has evolved to nickle and dime creators. It's also horribly flooded with Aliexpress Fulfillment and Printify goods. I helped beta test it when it first came out back in 2003/4 timeframe. I loved it back then. I was deep in the community and loved working on my little shopfront. Nowadays it's just a pain to try to price it out where the customer doesn't get hosed as much as I do.
@@fiercekittenz Your right, it's all printable pf's from stationary graphics to buildable items
I've been sewing for customers for over 50 years now and I do have to remind customers that it is also my experience. You can go to someone you may not know their skills are but you do mine." I am fantastic at what I do" is what I say. But my prices are still too low because a) grandma hems my pants or b) it's a pink collar job that people don't respect as much as they should.
as far as the 3x cost... its a decent ballpark, especially if you are new and not very fast at making things yet- you should get faster as you practice. however! look at what your price actually is, and then what it would be if you didnt get it on sale.
like... i got some 14 a yard fabric for 3 bucks...
I tend to come up with an average cost for the fabric I'd use and then round up. So while I CAN get a yard of fabric for $5 if it's on sale, I'll base my cost estimates off the real price without coupons, sales, or other discounts.
A question about awkward pricing, I am making a 21" square 5" deep, doggie booster seat for a friend, I have had to buy the seat foam which cost £20 on its own, I will also be wrapping the foam with some fleece wadding and then making a zipped box cushion to cover it, using medium weight fabric I probably already have, it will take me quite some time to make it, but how do I factor all of these elements and come up with a 'reasonable' price to ask my friend to pay, because 3x would be really prohibitive and I don't feel I could ask that :)
That is when I’d factor in all material costs and figure out how many hours it would take to make it. I’d charge an hourly rate based off that. I get it. 3x the material costs doesn’t work for more labor intensive items like quilts and such.
I'm planning to start a sewing business, and I was wondering what is this e-commerce you mentioned in your video all about? How important is it for a small business? Do I need to take some kind of computer classes to learn how to manage it myself or hire someone?
Cards
They have apps but if you want to do calculations and invoices, those can be found in word documents templates. Or watch tutorials like this! To design logos, banners, business
"Christine's Home Affairs" channel pays herself a pretty hefty hourly wage, and bases what she makes and how to price it roughly on that (plus the cost of materials although she often upcycles) note that she makes mostly very simple items, but she makes them in bulk
I would love to see some of the work you do so I know what you're talking about when you say "Blue..something klamato" ? Is there a place to see your products?
The Blue Calla Clematis? Yeah! I have a tutorial on making that one specifically! The best way to see my past products is on my Instagram (@fiercekittenz). The shop will periodically have bags for sale, but typically they sell before I'm done making them on stream. I do have other goodies in my shop though!
@@fiercekittenz thank you. ♥
Everything. Where to sell and how to start it
you are so cool. i thank you for sharing some great info for pricing. i have lots of questions but i am trying to figure all this out at 64.
1. i got a cartoon logo done on etsy. i am too shy to ask how i can turn the PNG file into a brass stamp for leather bags. also i dont know who does custom stamps what size how do i explain what i want. do you know of a custom stamp place. i also got the business card PNG transparency all i asked her for was Thank you and business name and phone #. i would like to get a custom stamp also with handcrafted by eileen cairns. i make elastic bangles also real adorable. i wear them to test them 1st and they hold up so well even with my active life. i love them oh my gosh everytime i wear one guys even ask to buy off me. but i get so nervous for fear of inadequacy. plus id like to Identifify my artistic flair. any help in any way would be too cool for words.
eileen cairns
Cairns Rocks On...
😂🤣😂🤣 your the best
Anyone willing to help me determine pricing on my products for a craft fair?
Craft fairs are a little different animal. Folks go there wanting ‘a deal’, like they’re garage sale buying! Yet a well advertised, community craft fair as opposed to a church/high school craft fair, you will ‘fair’ (no pun intended) much better with the community fair. Look at your products. What would you pay for that item? And when prospective buys come to my table, I point out all the good thing about the product they’re looking at and show the attention to detail that I put into it. So if they wander down a few booths and compare, they always come back and purchase. Good luck! You’ll do fine 👍
What sort of products are you planning to take. I would also make sure you had plenty of business cards printed out so that they can take them to remember your business if they don't order or didn't see something and wanted a custom thing. I'd make sure to tell anyone at a fair if they didn't see something that you do take custom orders
@@geraldinelombardo7434 I've only done 1 craft fair and everyone was trying to talk me down in pricing
@@heidifrady2043 good thinking. I'll need more business cards. I'll be selling wristlet bags, makeup bags and key fobs
@@catwomanvl05 keyfobs could be like 8-10, wristlets and beauty bags depending on the bag would be about the same of 25-35 depending on the bags you choose I have been looking at my patterns I own and then try to charged base off an average
Have you ever made a product that you feel it should be patented....
Sadly, no. I don't think I'm that smart or unique :(
@@fiercekittenz I think you are very smart and unique!!! Thank you for all your great informative videos, I watch them faithfully and over and over again... thank you for being you!😊
Labor cost