And what a dilemma it is! How to price your goods is such a hard task ~ i mean you love what you do, you want other peeps to love what you do, you want to be nice....but you need feed yourself, pay your bills + keep your sanity.... all, whilst looking gorgeous ::giggle!
So i'll share a lil something with you that i found very very interesting!
About a year ago, i stumbled upon the wonderful world of Etsy Online Labs ~ and they are an absolute wealth of information + inspirations for any peeps in business, especially the crafty types.
Anyways, the one Etsy Lab that really stuck out for moi was ....
I had a lot of 'light bulb' moments, a lot of 'oh...now i get it, that totally makes sense!'... and made me laugh about a situation that happened when i first opened up my etsy shop ::
A lovely young lady in romantic Paris, contacted me and wanted to know if i would like to wholesale to her exciting new boutique. It sounded so dreamy, so informed her what my wholesale price would be - which kinda seemed really low...but hey who cared, my stuff would be in Paris right! Anyways it never eventuated thanks goodness, as that number i gave her ~ did not include:
- labour costs
- money to put into growing my business
- or any profit ~ which means i would be eating rice + water for the next month! Yikes!
'work out a number so that you are profitable at the wholesale point!' is just one of the valuable quotes from Ms Auman ~ infact there is so much good stuff, you really need to watch it!
So if you are a bit short on time (like myself), just put it on + have a listen whilst you are cooking supper, sewing, creating etc. Hope you find it as helpful as I did!! oh and there is also a downloadable worksheet provided...might fill mine out this week!