You will never get paid for all of your labor! There will always be someone who will sell cheaper than you! And every venue has its own price points.
So how do you price your items for sale at craft fairs or online sites like Etsy?
To be fair, a formula isn’t the only factor you should look at when determining price, but it can really open your eyes to the true costs of doing business, and the approximate price you need to strive for to make a real profit.
A good craft pricing formula will…
- take the guess-work out of assigning a price
- help prevent emotions from clouding your judgment
- ensure you have factored all of your costs into your prices
- give your business room to grow and be truly profitable
- help you discover opportunities for increasing profitability and reducing waste
Here’s how to price your Items for craft fairs or online sites like Etsy by Melanie Ham:
If the process of calculating the price of your products becomes too complicated, you could use a software program such as Craft Maker Pro where you can keep track of various aspects of your craft business and calculate costs of finished items.
You can also use our free pricing calculator.