Pricing your products
I hate to see professional crafters and artisans turn away from selling wholesale because they do not have enough of a profit margin to make it worthwhile to sell to retailers.? Of course, this is a valid concern, but there…
After the holidays is the time that many businesses re-evaluate their goals and plans for the next year. Pricing techniques are at the top of the list for 2017 planning. I am already getting questions from readers about appropriately pricing …
A series of Business Tips from the book: How to Price Crafts and Things You Make to Sell by James Dillehay As new craft sellers, we tend to under value our work and consequently under price our products. — James…
Do you ‘discount’ your product pricing to arrive at your wholesale price? I know many feel this is the best way to come up with wholesaling pricing. But there are several reasons why this is not an effective: Pricing should…
We have talked extensively, in past articles, about pricing your products. But we have never really talked about how stores price your items. Simple formula: Retailers take your wholesale price and double it to arrive at a retail price. This…
If you plan to grow your business, wholesaling your products is the way to go. Instead of selling one or two items, you can sell dozens at a time. But there are lots of issues that professional crafters, artisan and…
I just finished reading one of the best books I have ever read on pricing your products: How to Price Crafts by James Dillehay. James Dillehay, who is the author of several books, has more than 25 years experience as…
First of all, Happy Mother’s Day! Even if you are not a mother, we all had one… and I wish all the mothers still in your life a very happy weekend and celebration. In the meantime… back to business, and…
Along with our discussion on pricing, I want to present another viewpoint on pricing to make a profit. Of course, we all want to make a profit with our products, but unless you spend time doing the math — and…
After posting my two articles about Pricing Your Products, I received an interesting email from a reader. (If you missed the article, check them out here: Developing Your Pricing Formula Pricing Based on Perceived Value) Here is what she wrote:…
Last post, we talked about a basic formula for pricing your products. Cost of Good X 2 = Wholesale Cost Wholesale cost X 2-2.5 = Retail Cost Since I am a gourmet food producer, the formula works well for me. …
Pricing is an on-going task of researching and tweaking to develop your final calculations. Appropriate pricing is probably the most important and (often) overlooked component for selling your products. A simple pricing formula is the following: Cost of Good X 2 = Wholesale Cost…