Maybe some of you who read my blog can give me a hand. I'm working on those totally awesome washcloths that I want to sell on Etsy. I have 5. I'm waiting until I have 10 cloths and maybe 3 or 4 bags before setting up shop.
Here's where I need the help. I have no idea how much to charge for any of this. I have looked for similar items on Etsy, and the prices are kind of all over the place. Anywhere from $3-$7 for the cloths. I can't remember what I saw for the bags. A couple of the bags were made from recycled grocery bags, but nothing was made of organic or recycled yarns.
The recycled yarn (recycled from the textile industry) that I bought costs me $8 for a 100 gram skein. I made three dishcloths out of it, and had a little yarn left (not enough for I full dishcloth, though). Playing with my patterns, I probably could get 4 cloths out of it, though. The organic yarn cost $8 for 50 grams. I have found a different (and cheaper) supplier for it, though. I still have not worked on reclaiming my own yarn from thrift shop sweaters, so I don't know the cost ratio for that, yet.
I don't want to overprice anything so that people won't want to buy them, but I also don't want to under-price and lose money. I am also very aware that people are sometimes less likely to buy a cheaper item, believing (at least subconsciously) that it has less overall value.
So, that is my conundrum. Thoughts?
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3 comments:
Basically, you figure the cost of materials per unit. Then you figure how much time it took you to make each unit. Then you figure out how much your time is worth. Add it all together, and you have your base cost!
Yeah, the thing is: I'm not sure how much my time is worth. Most of the time, i'm already getting paid from my real job while I'm working on stuff. It's just something to keep my hands busy.
Cost + your time.
You don't have to think of it as an hourly wage for the time. So, you are sitting at work or in front of the TV crocheting. Think of it as time spent not crocheting something YOU want.
I would say, on adverage, a washcloth cost about a $1 (give or take) to make and an evening in front of the TV (let's call it two hours). So, generally speaking, Anywhere between $4 and $7 dollars is about right.
NOW, you have to consider the ORIGINALLITY of what you are doing. Have you created something totally awsome that no one else has? Well, that should get figured into what you charge as well. Generally, dishcloths are not to original, but it is something you want to keep in mind if you branch out a bit.
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