sandahl3000 said... Generally speaking, how would one go about taking all things into account for pricing their items?
One of the thornier conversations among sellers is the one surrounding pricing. You'll hear your prices are too low, too high, that they make my butt look big, pretty much everything under the hand crafted organic felt sun.
What does this means for you? Pretty much nothing except that sellers have a lot to disagree about. What is important here is that your pricing is YOUR business. In every aspect.
There are many different ways to gauge pricing. Some break it down into supplies and hours and so forth. For me that's not really practical and I never sit down and just work through a project, so forget that per hour stuff.
You have to factor what the market will bear, which currently is very little. Combined with what profit you need to make to be happy and how invested you are. Is this a business or like me, milk money with hopefully a bit to set aside?
I'm going to be honest with you.( I always am but when I say that it sounds extra sincere.) I used to do the tabling and dividing and then one day I realised I was spending way too much time factoring whatnot into whatsit and making myself miserable in the process.
So I simply looked around and got a feel for what I was selling was selling for. How much I could afford to price competitively and how I could curtail my own costs by buying smarter on my end. That approach worked for me and continues to.
If you are someone that makes something more unique, you may have to approach it from a more standard view or if you like numbers there are a lot of formulas out there. For me, I just wanted to get on with it and really, I suck at math. A lot.
I do factor in my supplies, shipping, (as should you) but not my time. I have found a price point that works for me in a way that works for me. pretty much the point here. Don't get so focused on how someone says YOU should price items. Find the options out there that appeal to you and makes sense for what YOU are selling.
You have flexibility in determining price and the method in which to suss it out. What works for you is good enough. The irony here is that we have so many creative people creating so many different things, but when it comes to pricing there are so many absolutes. Well, I'm here to tell you that it doesn't have to be that way.
If you are really crafty you'll find a friend who loves accounting and barter. That, my friend, IS the ideal pricing solution.