Greetings from Kansas City. I started building a custom potting bench for one of my daughters-in-law, and got to hunting around Etsy (and other places) for ideas. I started thinking I should develop it into something I could sell (I began building King's modern Adirondacks a while back and everybody loves those things). Ended up hitting your video on your potting bench, then came here to this video. This is excellent. I took a whole page of notes. I thank you very much for being so transparent with your stories, information and pricing. Extremely helpful.
@@Lugnut64052 Thank you so much! This was much third video ever I’m just glad you got something out of it. My last Potting Bench cost $1800.00 to ship! WOW I SAID! compact is the way to go if you can. Good luck, feel free to reach out to me if I can help.
@@BuildwithMooney Missouri side, but the MO side and the KS side are all one metro. I live about five miles east of the state line. Yeah, 1800 bucks IS crazy. I'm thinking maybe my shipping costs here in the middle of the country would be somewhat less. I do have a question on your numbers; it looks like you didn't figure any labor cost into the build, but included your materials into your all-in cost (materials+crate+shipping+Etsy), and THEN added your profit margin. All well and good, but it looks like you doubled your cost for the profit, rather than adding 50%. Still all well and good, but I can't quite unravel where you got the profit number. And the term "PGM" . . . Profit-?-Margin. Profit Gross Margin?
@@Lugnut64052 let me try to explain lol I said so much in that video I might have mixed up some numbers. Right of the top of my head I was just trying to tell people to include shipping cost into their total price. I understand not all items are created equal with pricing. I could build a small purse for several hundred % for profit, but the big items not so much. I also didn’t include the taxes I paid on all of my sales either, tax laws vary from person to person. I apologize for not being clear. You have to remember after I sold the first 12 or so I got really busy and just kept raising the price until I stopped the sales actually because I’m retired and the extra cash is great, but u don’t want a full time job. I hope I explained some of the confusion with numbers, just make sure YOU GET PAID FIRST!
another great video John and thanks for the shout out too! All really good information for beginners and pros alike. Especially your insights on pricing, which is something you helped me with a long time ago. Keep up the good work bud!
Man Rocky I couldn’t have done it without you! Thank you so much for all of your help and being a great friend! Send me any of your new products so I can link them in the description! You have that coming all day every day!
Greetings from Kansas City.
I started building a custom potting bench for one of my daughters-in-law, and got to hunting around Etsy (and other places) for ideas. I started thinking I should develop it into something I could sell (I began building King's modern Adirondacks a while back and everybody loves those things). Ended up hitting your video on your potting bench, then came here to this video. This is excellent. I took a whole page of notes. I thank you very much for being so transparent with your stories, information and pricing. Extremely helpful.
@@Lugnut64052 Thank you so much! This was much third video ever I’m just glad you got something out of it. My last Potting Bench cost $1800.00 to ship! WOW I SAID! compact is the way to go if you can. Good luck, feel free to reach out to me if I can help.
@@Lugnut64052 Kansas City MO or KS?
@@BuildwithMooney Missouri side, but the MO side and the KS side are all one metro. I live about five miles east of the state line.
Yeah, 1800 bucks IS crazy. I'm thinking maybe my shipping costs here in the middle of the country would be somewhat less. I do have a question on your numbers; it looks like you didn't figure any labor cost into the build, but included your materials into your all-in cost (materials+crate+shipping+Etsy), and THEN added your profit margin. All well and good, but it looks like you doubled your cost for the profit, rather than adding 50%. Still all well and good, but I can't quite unravel where you got the profit number. And the term "PGM" . . . Profit-?-Margin. Profit Gross Margin?
@@Lugnut64052 let me try to explain lol I said so much in that video I might have mixed up some numbers. Right of the top of my head I was just trying to tell people to include shipping cost into their total price. I understand not all items are created equal with pricing. I could build a small purse for several hundred % for profit, but the big items not so much. I also didn’t include the taxes I paid on all of my sales either, tax laws vary from person to person. I apologize for not being clear. You have to remember after I sold the first 12 or so I got really busy and just kept raising the price until I stopped the sales actually because I’m retired and the extra cash is great, but u don’t want a full time job. I hope I explained some of the confusion with numbers, just make sure YOU GET PAID FIRST!
@@BuildwithMooney
Ah, ok, I get it. You eventually figured out where the "too much" price point was. Thanks!
I’m thinking about trying this with some of the bigger items I build.
Please do and let me know how it works out for you!
another great video John and thanks for the shout out too! All really good information for beginners and pros alike. Especially your insights on pricing, which is something you helped me with a long time ago. Keep up the good work bud!
Man Rocky I couldn’t have done it without you! Thank you so much for all of your help and being a great friend! Send me any of your new products so I can link them in the description! You have that coming all day every day!
@@BuildwithMooney Thanks man I appreciate it!
@@RockfordGammonWoodworking I’m glad we worked it out! On to the next project! Thank you!