a little help with pricing

After meeting so many artists, i realized they all have the same questions. Pricing.

Pricing is difficult for many new artists… settling on a price that is affordable to YOUR market, and still making a profit. what im about to show you is NOT intended to push you to change your prices, but i personally find comparison shopping helps me price my own goods.

zip pouches


Oblinaknit (Virginia)

$7.00

greeting/note cards

www.petitmorpho.com

$2.00 for 3 mini cards

embelished/printed totes (simple)

3fellaskidsshop

mini bag: 6x5inches

$15.00

chingstote

screen printed

$14.00

$16.99

brezomayo (maine)

lined + embellished + pocket
$35

so you see the additional details add to the price of the goods. as well as the quality and time put into the project.
————————————————————————————–

inbloom.ca (ontario)
fully lined, detail stitching, inner + outer pocket, applique work
$45


Purses


daphnenen (newyork)

tapestry, strong interfacing. fully lined

$55


Nostalgia (california)

lined but no inside pockets

$25


hollyberrydesigns (pennsylvania)

Reversible

$30

Retrofied (chicago)
Reversible

$48
—————————————————————————————
this is the hardest part of being an independent designer. You have to be confident that people will purchase your designs at the price you set, but be wary you are setting your market with those prices. if you want only rich kids to wear your clothes… aim high. probably $10/hour + materials + 50% markup. You want average people to fall in love with you… price them at a level that YOU would pay. $10/hour + materials + %25 markup. that % is your profit. your bonus lets say… for all your hard work. if you aim too high, if you are over confident in yourself… you may not have as many customers.
I dont want to discourage anyone, or offend anyone’s pricing levels. thats not what im suggesting…
if the quality is evident to the buyer, then a higher price will make sense.
the examples i chose are ones i feel fit their price level perfectly!
good luck, and happy crafting to everyone.
and please feel free to click on the images above to shop from theose artists.. they are ALL worth it, and have many other wonderful things to choose from
Advertisements

One response to “a little help with pricing

  1. Oooh I love this! Pricing is so, so hard for me. And you’re so right….looking at what’s out there is a really good jumping off point! And thank you so much for those formulas! Bookmarking…

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s