Print Farm Academny has a great video and google sheet doc for pricing. Its very important to NOT think "this will apply when I scale" and instead remember that you may wake up tomorrow with some hit product that suddenly inundated you. Prepare your processes for scale now so you are not panic planning when it happens. Also note I said "when it happens" not "if it happens". Mindset staying positive is key when your going through the drag of business that is planning processes and creating them. You are well on your way to success my friend!
True, I still think at the beginning experience is the best teacher. I spent way too long tryin to figure out the right way to run a business instead of just trying. With Etsy you can just limit your inventory, so you won't have issues with too many orders. For me a bit further down the road, I account for all the things you mentioned! Print Farm Academy has great stuff, I think it's more of a 200 level course.
@@OfficialOffDaBench Agree. The hardest part of starting, is starting. A lot of people misinterpret "growing" as meaning "scaling" as well. They are hugely different. Growing is adding a machine or two so you can keep higher inventory levels. Scaling is ensuring that when you outgrow a space and bringing on an employee, outsourcing something, or even removing excess hats you are wearing. Growing requires income management to afford scaling eventually. Scaling requires process management, so that anyone can walk in, see how things are done (because its documented thoroughly) and be able to do the job repeatably at the same quality levels every time.
Thanks! Yes that is one more thing to keep track of, but for people just starting I don't think they need to worry about it. Sales should be the No1 focus
Some advice and where you can cut cost a bit. UPS give out free lables and plain boxes. The boxes are Security boxes which have no branding on them. Your products are a perfect fit for those boxes. You just have to make an account ( it's free) and order the free materials. Thermal lables and boxes. From your calculations here in the video, you would be saving over $1.20 per item shipped. That's huge savings
I've also been using them for over 5 years now to get my boxes and thermal paper.. One order of the 4x6 thermal paper should last ya a long time. Just order the non roll for your Rollo you have.
Hey man, you got any app recommendations for modelling with my iPad Mini and Pencil? I see the iPad Mini just hanging there 😂. Anyways, great video quality man, these are fun watches, I love how you don’t ruin the video with music.
Where and how are you accounting for your labor/time, equipment cost, or electricity cost? I also have an Etsy shop and I see a lot of 3D Printer guys who aren't pricing their stuff properly, being way to low. I see some guys selling stiff for less than $5. That is impossible to make money on that.
Great question! At my scale that's not a large consideration, that being said if I include labor at $100/hour (standard rate for self-employed consulting work), then a product like this would have an additional $12ish of labor costs. Realistically the products should be priced for what the market is willing to pay. I try to keep mine on the more expensive side. I work hard to make my products quality and hope customers see that too. For shops who underprice, they will eventually go out of business.
Nice box, but if you don’t mind me saying, I think having the lid as a separate item creates opportunity to have it get lost and broken. I suggest making it a print-in-place hinged lid. It would create a more elegant solution.
Thanks for the feedback! I am debating changing the design one more time, but I also want to consider the filament used for the box. Right now it's pretty minimal.
If you check with your local print shops, most paper companies also sell boxes and packing material. If you know someone in the printing business it is usually free shipping because they are already delivering paper.
Could you please discuss some of the camera and lighting equipment you use? I’ve noticed that my workshop lighting flickers when recording, even though it’s quite bright and uses LEDs. In contrast, your lighting appears very clear and crisp.
shipping who do you use and what the approximate cost to ship? I'm just trying to get into 3d printing and selling but am lost on the shipping. also do you make your own designs?
I do make all my own designs! It's a little hard to answer your question, but in general my products cost anywhere from $3-$6 to ship. This includes only the shipping label. In my case customers pay for shipping unless the order is above $35.
Sounds like JIT Just in time inventory management and manufacturing. Having lower inventory allows you to make adjustments on the fly (Size, Color, Supplier, etc.) Some states also have to pay inventory tax. If you bought bulk for the year and sales dropped in Q4 you might actually pay more in tax than the few cents a piece savings per box. A wise man once said don't trip over dollars to pick up pennies. If what you are doing is working and making a profit just do more of it. Improve the process to do it faster so you can move more product.
Some thoughts i had during the video : It's good to sell in the beginning at break even to rank higher in the algorithm, after 20 sales or so raise price to make money. Your conversion rate will be way higher at lower prices , so you will be ranked higher by the algorithm and get more sales in the longterm. I don't package my items, never had a complaint, even on amazon. It reduces waste and saves alot of time. If you want to live from your business and do not want to hire people, you should focus on products that require minimal manual labor (assembly/packaging), otherwise you will soon be a self employed assembly/factory worker. You need to value your time, making 5$ on a product that takes 20 min to make is not worth it and not scaleable. You can charge more for products with low competion and good design. Had a look at your prices, some of the items are priced way too low in my opinion, 4$ for a wall mount? This is more like charity and not a business lol I would also remove your Etsy link, your viewers will have a look but not buy anything most likely, that will decrease your conversion rate.
I get all my tape and bubble wrap from work. It’s all extra trash anyway. Also, let’s hear about Etsy ads. Have you used that yet? I’m interested to see if it has helped a small seller
I just wanted to say a huge thank you for creating these amazing videos! Your presentation skills are incredible, and the way you break down each step makes it all so easy to follow. I stumbled upon your channel while deciding whether to get a 3D printer for personal use. Even though I’m not planning to sell prints right now, your content has me completely hooked! Out of curiosity, do you have any tips for beginners like me who are just starting out with 3D printing for fun? I’d love to hear your thoughts or recommendations! Thanks again for the inspiration! 😊
Practice, practice, practice! I'd also get feedback from people to learn what they like and don't like about the designs. I'm realizing I have my own design style, and I'm sure you will too :)
Watched some etsy videos. They sound tough. Use a vpn ,fishy reviews, not make yourself, copywrite, shipping location etc. 10k shops Gone. Apparently not all them gov needs to know.
yep, I got suspended before I even started. I never listed, sold, or bought anything and they suspended my account without explanation and haven’t responded to my appeals
I do factor those costs in to my products, but when starting I think it's too hard to figure out and often becomes a roadblock to people. When starting I think it's more important to make a few sales than to have a perfect price. Pricing is easy to change down the road.
I think you forgot to add the machine depreciation cost, electricity, and labor in your cost. Heres a helpful video: ua-cam.com/video/5koU93oZVC0/v-deo.htmlsi=gQs3u8mHYYpSOmXx Though labor is really hard for me to add to the cost of the product
I intentionally left that out! What I found is when you are starting the business, factoring all of those items in right away slows down your ability to just focus on sales and design. Once you have consistent orders you should start to add those costs in. If your products have a 60% + margin after Etsy's fees you are probably alright.
@@philcarpenter it's all about the value you add to something, if 10 grams of filament ran though a machine now solves a $20 problem you get paid for the problem you solved vs how much it costed you, and on the other hand you pump $5 of filiment though a printer and made something that is sold at the store for $6 you still only get the amount the problem you solved was worth , in that case the vaule is $6 and a trip to the store.
I think it is awesome how you show every step and talk about why you do it that way.
Thank you for sharing!
And thanks for highlighting taxes topics, people usually skip this part when talk about pricing.
No problem!
Just getting into 3D printing, thank you for the amazing video!
Awesome! Thanks :)
Thanks again for sharing. Good luck with your 365 sales goal
Thanks!
That’s a nice looking finished product! Thanks for sharing!
No problem!
Helpful video Chris! thanks for sharing
No problem! More to come :)
im so glad i found your channel. im myself in the road of opening my own business in 3d printing...
🙂
Nice insights as usual!
Thanks!
Thanks for deep diving into the shipping process
No problem!
Your videos are great. I'm really enjoying following your process 👏
Thanks!
Print Farm Academny has a great video and google sheet doc for pricing. Its very important to NOT think "this will apply when I scale" and instead remember that you may wake up tomorrow with some hit product that suddenly inundated you. Prepare your processes for scale now so you are not panic planning when it happens. Also note I said "when it happens" not "if it happens". Mindset staying positive is key when your going through the drag of business that is planning processes and creating them. You are well on your way to success my friend!
True, I still think at the beginning experience is the best teacher. I spent way too long tryin to figure out the right way to run a business instead of just trying. With Etsy you can just limit your inventory, so you won't have issues with too many orders.
For me a bit further down the road, I account for all the things you mentioned! Print Farm Academy has great stuff, I think it's more of a 200 level course.
@@OfficialOffDaBench Agree. The hardest part of starting, is starting. A lot of people misinterpret "growing" as meaning "scaling" as well. They are hugely different. Growing is adding a machine or two so you can keep higher inventory levels. Scaling is ensuring that when you outgrow a space and bringing on an employee, outsourcing something, or even removing excess hats you are wearing. Growing requires income management to afford scaling eventually. Scaling requires process management, so that anyone can walk in, see how things are done (because its documented thoroughly) and be able to do the job repeatably at the same quality levels every time.
@@MattWeber well said!
Nice work as usual! I would only add to your costs the 3D printers maintenance (any nozzle changes, gears swapping, that kind of stuff).
Thanks! Yes that is one more thing to keep track of, but for people just starting I don't think they need to worry about it. Sales should be the No1 focus
Thanks for sharing, nice video bro!
Thanks!
Smart Version of Packaging. I like this Version :-)
If the Box is something you will sell later, maybe some customers come back and order them
Thanks!
Video idea, tour of your pegboard :) , great video thx!
No problem!
Some advice and where you can cut cost a bit. UPS give out free lables and plain boxes. The boxes are Security boxes which have no branding on them. Your products are a perfect fit for those boxes. You just have to make an account ( it's free) and order the free materials. Thermal lables and boxes. From your calculations here in the video, you would be saving over $1.20 per item shipped. That's huge savings
I've also been using them for over 5 years now to get my boxes and thermal paper.. One order of the 4x6 thermal paper should last ya a long time. Just order the non roll for your Rollo you have.
Great tip! Thanks for sharing 🙂
Hey man, you got any app recommendations for modelling with my iPad Mini and Pencil? I see the iPad Mini just hanging there 😂. Anyways, great video quality man, these are fun watches, I love how you don’t ruin the video with music.
Thanks! I use Shapr3D which is for Mac and iPad. It does cost money though.
Where and how are you accounting for your labor/time, equipment cost, or electricity cost? I also have an Etsy shop and I see a lot of 3D Printer guys who aren't pricing their stuff properly, being way to low. I see some guys selling stiff for less than $5. That is impossible to make money on that.
Great question! At my scale that's not a large consideration, that being said if I include labor at $100/hour (standard rate for self-employed consulting work), then a product like this would have an additional $12ish of labor costs.
Realistically the products should be priced for what the market is willing to pay. I try to keep mine on the more expensive side. I work hard to make my products quality and hope customers see that too. For shops who underprice, they will eventually go out of business.
@OfficialOffDaBench hey thanks for your reply, really appreciate it.
Nice box, but if you don’t mind me saying, I think having the lid as a separate item creates opportunity to have it get lost and broken. I suggest making it a print-in-place hinged lid. It would create a more elegant solution.
Thanks for the feedback! I am debating changing the design one more time, but I also want to consider the filament used for the box. Right now it's pretty minimal.
Once you receive an order, what is the turnaround time for you to ship it out? If someone ordered today, would they receive it by Christmas?
1-2 days from when the order is placed! Once I get it to the post office, its up to the mailman :)
If you check with your local print shops, most paper companies also sell boxes and packing material. If you know someone in the printing business it is usually free shipping because they are already delivering paper.
Great idea!
Could you please discuss some of the camera and lighting equipment you use? I’ve noticed that my workshop lighting flickers when recording, even though it’s quite bright and uses LEDs. In contrast, your lighting appears very clear and crisp.
I use the DJI Osmo Pocket 3 for my camera. Then a Neewer CB100c for my main light (typically not in the camera shot).
You get your supplies using the "Just in time" method.
That's the word! Totally blanked while filming 😂
shipping who do you use and what the approximate cost to ship? I'm just trying to get into 3d printing and selling but am lost on the shipping. also do you make your own designs?
I do make all my own designs! It's a little hard to answer your question, but in general my products cost anywhere from $3-$6 to ship. This includes only the shipping label. In my case customers pay for shipping unless the order is above $35.
If you ship with priority mail, the post office gives you free boxes just saying for those that might not know
That's also true, but the shipping price is pretty high. Most of my products have a label cost of $4-$5
Sounds like JIT Just in time inventory management and manufacturing. Having lower inventory allows you to make adjustments on the fly (Size, Color, Supplier, etc.) Some states also have to pay inventory tax. If you bought bulk for the year and sales dropped in Q4 you might actually pay more in tax than the few cents a piece savings per box. A wise man once said don't trip over dollars to pick up pennies. If what you are doing is working and making a profit just do more of it. Improve the process to do it faster so you can move more product.
JIT inventory, literally could not think of the name while recording 😂
What camera do you use for your auto tracking segments?
I use the DJI Osmo Pocket 3 :)
which programme for 3D models do you use?
Shapr3D :)
Where do you buy your shipping boxes?
Right now I get them on Amazon
Some thoughts i had during the video :
It's good to sell in the beginning at break even to rank higher in the algorithm, after 20 sales or so raise price to make money. Your conversion rate will be way higher at lower prices , so you will be ranked higher by the algorithm and get more sales in the longterm.
I don't package my items, never had a complaint, even on amazon. It reduces waste and saves alot of time.
If you want to live from your business and do not want to hire people, you should focus on products that require minimal manual labor (assembly/packaging), otherwise you will soon be a self employed assembly/factory worker.
You need to value your time, making 5$ on a product that takes 20 min to make is not worth it and not scaleable.
You can charge more for products with low competion and good design.
Had a look at your prices, some of the items are priced way too low in my opinion, 4$ for a wall mount? This is more like charity and not a business lol
I would also remove your Etsy link, your viewers will have a look but not buy anything most likely, that will decrease your conversion rate.
Well said! Good callout on my Etsy link. I was curious about that, but wanted to try it out. Think it's finally time to take it down.
I get all my tape and bubble wrap from work. It’s all extra trash anyway.
Also, let’s hear about Etsy ads. Have you used that yet? I’m interested to see if it has helped a small seller
Yes I run $5-$10 on Etsy ads. They do work, but still keep an eye on them. If the product is good it will sell.
When did you start selling?
My first sale was Jan 17 2024 :)
@OfficialOffDaBench nice , i started before week ago with one order😅
I just wanted to say a huge thank you for creating these amazing videos! Your presentation skills are incredible, and the way you break down each step makes it all so easy to follow.
I stumbled upon your channel while deciding whether to get a 3D printer for personal use. Even though I’m not planning to sell prints right now, your content has me completely hooked!
Out of curiosity, do you have any tips for beginners like me who are just starting out with 3D printing for fun? I’d love to hear your thoughts or recommendations!
Thanks again for the inspiration! 😊
Practice, practice, practice! I'd also get feedback from people to learn what they like and don't like about the designs. I'm realizing I have my own design style, and I'm sure you will too :)
Watched some etsy videos. They sound tough. Use a vpn ,fishy reviews, not make yourself, copywrite, shipping location etc. 10k shops Gone. Apparently not all them gov needs to know.
Etsy has been a wild place. Lots of new drop ship shops have been made in the past year.
yep, I got suspended before I even started. I never listed, sold, or bought anything and they suspended my account without explanation and haven’t responded to my appeals
Please, tell how this idea started
Which idea?
Not to charge for your labour and machine time only does yourself/other business a disfavour.
I do factor those costs in to my products, but when starting I think it's too hard to figure out and often becomes a roadblock to people. When starting I think it's more important to make a few sales than to have a perfect price. Pricing is easy to change down the road.
do me a favor and spend the 3-4 extra cents and put you screws in a bag, as a consumer and maker rattling sounds broken when things ship
Not a bad idea!
I can’t even sell any products.
Keep trying! If a product doesn't sell, design a new one and try it out 🙂
I think you forgot to add the machine depreciation cost, electricity, and labor in your cost.
Heres a helpful video:
ua-cam.com/video/5koU93oZVC0/v-deo.htmlsi=gQs3u8mHYYpSOmXx
Though labor is really hard for me to add to the cost of the product
I intentionally left that out! What I found is when you are starting the business, factoring all of those items in right away slows down your ability to just focus on sales and design. Once you have consistent orders you should start to add those costs in.
If your products have a 60% + margin after Etsy's fees you are probably alright.
i have items that cost me less than $0.25 and i sell for $25, but i also have stuff that cost me $4 and i sell for $20 lol
The market decides right? 😂
@@philcarpenter it's all about the value you add to something, if 10 grams of filament ran though a machine now solves a $20 problem you get paid for the problem you solved vs how much it costed you, and on the other hand you pump $5 of filiment though a printer and made something that is sold at the store for $6 you still only get the amount the problem you solved was worth , in that case the vaule is $6 and a trip to the store.
Well said! The price is based off the value you bring