Pricing is a tricky business and there is more to consider than the cost of the ‘wool’. Basic costs vary from craft to craft, I can keep the costs of my bags fairly low because I upcycle materials as much as possible (great fun & economical!) but there is still the thread and other bag hardware that has to be bought.
There are also other expenses that must be factored in, bubble wrap for packing, boxes and other fancy bits to make the product look pretty, after all, wasn’t it that cute little box with the lovely ribbons that attracted you in the first place? Then there are the boring expenses like Paypal fees, public liability insurance, licences (some patterns and fabrics can only be used under licence) oh and remember that local craft fair? A table there will cost anything from £5 to £30.
What about labour costs? We are the product designers, marketing managers and accounts department. On the shop floor we are the production line and packing department. What hourly rate would you expect if you had to wear all of these hats in a day? I suspect that an awful lot of crafters are paying themselves well below the minimum wage.
Next time you look at a handcrafted item and think it’s a bit expensive please try and remember it’s not just the ‘cost of the wool’.
A very nice way of putting it! I like the way you have politely costed out a hand made product - it's easy to forget all that goes in to each and every one.
ReplyDeleteMarie x
Thank you Marie, it really is a balancing act too costly & no-one will buy them but too cheap and we don't cover our costs let alone make any profit!
ReplyDelete