how do you determine the price to charge for craft items you make to sell at a craft show?
HI! i am making wrist corsages, corsages and boutonnieres from silk flowers, to sell at arts and craft shows, etc.how do i figure out how much to sell them for? i can’t find a website that sells silk ones, only fresh flowers. i don’t want to price them too high and not sell any, but don’t want to sell myself short, so to speak, either…help!!
Suggested Reading:
The Handmade Marketplace: How to Sell Your Crafts Locally, Globally, and On-LineIt's an exciting new world for crafters. Handmade is hip, creativity is what the market wants, and there are many profitable sales opportunities that ... Read More >
Related Posts
You have to take into consideration the price that you paid for the flowers, material and the amount of labor put into each piece. This might be a low ball figure, but I would say 100% of your cost of material plus 30-50% material cost for labor. For a total of 130% to 150% material.
It is kind of like a math formula: cost of materials + your time + a profit margin equals your selling price.
Take your materials cost divided by the number of units made and that gives you a materials cost per item.
Take whatever your time is worth per hour and divide that by the number of items you make per hour.
Add the first two items and then multiply by 140% or 150%. This would give you a 40% or 50% gross profit margin.
The last item is to do a survey of what similar items are selling for at the craft show. If your prices are in line then you should be in good shape.
Good luck
Here is a great article about How to price your crafts – http://artsandcrafts.about.com/cs/beforeyoubuy/ht/How_Price_C.htm
And if you would like to see how much other people are selling handmade silk flowers compare here – http://www.artfire.com/modules.php?name=search&sterm=silk+flowers&cb1=1&cb2=2&cb3=3
http://www.etsy.com/search_results.php?search_type=tag_title&search_query=%22silk+flowers%22