Do you find yourself stressed about pricing your products? It’s hard to know where to start, how much to charge, and if the price is too high or too low. A craft pricing calculator can help make this process easier for you. This blog post will discuss what a craft pricing calculator is, how it works, and why using one could be helpful for your business.
Learning how to price your projects to sell can be a really difficult process. You have to find a balance between not charging so much that no one buys the product and not so little that you are working for pennies.
When trying to deciding what to price your project, there are a few different factors to take into account:
- Cost of Materials
- Size of project
- Complexity of project
- How much time you have to spend on it
- Weight of project
- Shipping Costs
All of these factors can help you come up with a fair price for pricing. Many people like to stick to a simple calculation where they just multiple the cost of materials by three (some will add a little more onto it, like $10-20, while others like to multiply it by four).
It’s important to price something competitively to what is already on the market. I usually recommend aiming to be somewhere around the middle when you compare your costs to others. Even if you have the most flawless projects, the best materials, and the most experience, most people tend to gravitate toward buying items that are in the middle pricing-wise.
While there’s no perfect solution, we have developed this super handy craft pricing calculator. By putting in the information below, it will quickly offer you the cost per unit, retail product price, and the profit per product that you’ll make.
I hope that this will help you as you develop your prices!
Craft Pricing Calculator
Cost Per Unit
Retail Product Price
Retail Profit Per Product