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Post by *sprout* on Aug 19, 2014 19:14:49 GMT
When you make an item to sell, how do you know what to charge?
Earlier this year, I started beading Native American dance regalia. The person I am currently beading for has supplied the beads and the fabric. There are a few minor things I have to purchase, but my out of pocket cost will be very low (less than $10). How do I figure out the cost of my time/labor?
Thanks!!
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Deleted
Posts: 0
Oct 9, 2024 22:15:24 GMT
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Post by Deleted on Aug 19, 2014 19:17:48 GMT
If you are doing this on the side, not as a main business, decide how much per hour you would like to make, and then add in any out of pocket costs you've incurred. If you are using your own tools, consider factoring in a small percentage of replacement cost to cover wear and tear on your tools.
If you are doing this as a business, you need to factor in expenses like overhead costs, packaging, possible insurance, etc in addition to hourly wage, tool wear and tear, etc.
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Post by *sprout* on Aug 19, 2014 23:32:15 GMT
Thanks, Ashley!
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eastcoastpea
Prolific Pea
Posts: 9,252
Jun 27, 2014 13:05:28 GMT
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Post by eastcoastpea on Aug 20, 2014 0:04:41 GMT
I agree with Ashley. Do you have any photos that you can share with us? I am always amazed at the bead work on Native American costumes. Does the beading add a lot of weight to the costumes? And, how did you get interested in doing the beading?
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NoWomanNoCry
Drama Llama
Posts: 5,856 
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Post by NoWomanNoCry on Aug 20, 2014 0:17:52 GMT
There is also apps you can get that you put in all your info and it does it for you.
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mallie
Pearl Clutcher
Posts: 3,253
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Post by mallie on Aug 20, 2014 1:03:29 GMT
I charge between $50--$100 per hour depending upon the technical difficulty of the work.
I see no reason to accept less than the lawnmower repair guy.
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Post by papersilly on Aug 20, 2014 1:03:44 GMT
I've been selling my crafted items for over 20 years and, In my opinion, the "market" sets the prices. Buyers will only pay so much for an item regardless of how much time it took you to work on that item. sellers compete to provide an item within that price range. More intricate items or better materials and craftsmanship can raise the price and the opposite can lower the price. How efficient you are with your labor can greatly increase your profit line.
Research how much similar items are selling for and set your price accordingly. Believe me, your buyer knows what she is willing to pay for the item. You just have to come to an agreement.
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Post by *sprout* on Aug 20, 2014 1:10:08 GMT
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Post by *sprout* on Aug 20, 2014 1:16:08 GMT
eastcoastpea I can share some pictures later of the regalia pieces I've made. I have to figure out how to add pictures! The added weight from the beads depends on how big the piece is (and thus how many beads are on it.) There is a longer story as to how I started, but long story short, I started beading thanks to a couple friends who are native. One friend is a talented beader (but no help pricing things out because she beads for friends, etc) who has taught me. My other friend has allowed me to design and bead his regalia.
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Post by *sprout* on Aug 20, 2014 1:17:37 GMT
Thanks, papersilly! You're definitely right...there is only so much I can charge for my pieces. I'll have to Google and see what I can come up with.
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NoWomanNoCry
Drama Llama
Posts: 5,856
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Post by NoWomanNoCry on Aug 20, 2014 1:30:18 GMT
There is one called Crafts Calulator. If you look through the store you will see a lot and can get one that best fits you. They all tend to be alike some have more extras than others though.
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Post by *sprout* on Aug 20, 2014 1:49:08 GMT
Thank you!
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Post by papersilly on Aug 20, 2014 4:46:35 GMT
*sprout* you should be priced as high as the market can bear, meaning at the highest that buyers have paid for similar items. Any lower and you would be undercutting yourself.
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scrapaddie
Drama Llama
Posts: 5,090
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Post by scrapaddie on Aug 20, 2014 11:01:13 GMT
I am thinking that this can be difficult now.... The fee should have been determined at the beginning... Begat I you as poles apart??
Since you have fiends doing this, what do they say?
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