How Much Do I Charge For My Handmade Products: Selling Your Handmade Crafts 💰 Profit Strategies
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- Опубліковано 8 гру 2019
- If you're wondering "How much do i charge for my handmade products?" and you're eager to make as much PROFIT as you can...
Keep watching, because in this video, I'm going to break down some of my PROVEN pricing strategies that will help you sell MORE of your work online!
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I've been binge watching your videos for almost a week now. They're very informative and easy to understand. Thank you so much for sharing!
I'm so glad you like them! Thank you for watching, Naomi!
Great video! I love watching your videos for precise actionable information. Thanks for sharing!
I'm glad this one was helpful to you, Breana!
Thank you so very much for your video on pricing handmade products. It was so informative and explained very clearly. I have also been watching your other videos like "What not to do" and Setting up and using online sales/search engines. Have definitely enjoyed your videos and will continue following you
Thank you so much for watching, Penny! I'm so glad you've found them helpful - that makes me so happy to hear!
Thanks so much Mei!… love your videos !❤️
Thank you Robin!! 😍
You've encouraged me so much with pricing. I thought my prices were too high but now I'm thinking about raising them!!!!!!!
That's wonderful, Felicia! Definitely price yourself correctly - your work is worth it!
Great video, thank you for being so generous with your time sharing all this crucial inf with us!
Thank you for watching! 🤓
Thank you! Great information and tips!
Thank you so much, Terrie!! ❤️
Hi! I've been watching your videos for a week now. they're very helpful. thanks for sharing! Much love from Botswana
Thank you so much for watching, Keoneè!
Your ideas are really great. Appreciate it.
I appreciate you for saying that June!
Good Info! Thanks Mei!
Thanks for watching, Carol! Any specific tip that resonated with you? :)
Never thought about this before! Omg I need to go to your shop!
Please do! I'd love for you to check it out. 😊
Thank you so much Mei!
Thank you so much for watching, Pescas Love!
Great ideas. Thank you1!
You are so welcome! Thanks for watching, David!
Your intense knowledge makes my life easy👏👏👏
I'm glad to hear that! Thank you for watching!
Great info! Ty for sharing!
You're welcome! Thank you so much for watching!
Thank you Mei, great information.
Thank you so much for watching, Erin!
Great information! Thanks so much ☺️☺️☺️
You are so welcome! Glad it was helpful for you, Dana!
Very nicely done on this video my friend Thank you for taking the time to share this with us and I hope you have a blessed week. Keep up the fun videos, Liked and commented, hope it helps.
Thanks again.
dale
Thank you so much for watching, dale, and for your kind words!
Thank you so much for your videos 🙏🏽
Thank you so much for watching, Cha! Hope you learned a lot from it! ❤️
Love watching your videos they are so helpful & informative ❤
That makes my day, Jenny! Thank you for saying that. Any big takeaways from this video? :)
@@CreativeHiveCo it's awesome that you replied 🥰 I loved all the strategies especially the one with having a higher priced product so it makes the rest thats are lower priced look like a better deal 😁 I may try to apply this to my shop I am about to complete a year of having it & haven't made many sales 😓 I've been watching your videos & have slowly began to apply them to my social presence & shop & have seen things grow gradually 😁
Omg, that's amazing to hear you're seeing some forward progression in your business! Happy to be here to help you in your journey. Building a business certainly takes time!
Yeah that one strategy is funny to me! Some businesses spend tons of money just to create that product that's the anchor, with no intention to really sell them hahaha. Funny how the mind works, huh? It's all consumer psychology! I find it very interesting.
Anyway if you have any video topic idea suggestions, let me know :)
@@CreativeHiveCo thank you so much for your helpful videos & tips & tricks they're all so great!! ❤ & on video ideas 🤔🤔 hmmm... how about more on speaking to customers for example when they have lots of questions or are dissatisfied with the mailing or product & what to look out for people or companies trying to scam you 😬 again awesome work on the videos keep up the great work ❤❤❤
Another great video 😁
Thank you! I really appreciate you watching!
Great information.
Thank you so much for watching, Tia!
Hi mei! Can u please make a video about how you handled it when sales are slow?
Here you go! ua-cam.com/video/Q-dR65Ns1h4/v-deo.html
Very very helpful
I'm so happy to hear that! Thank you for watching, Mira!
Your so informative love your channel...stay beautiful
Thank you so much!
Very helpful ❤️
Thank you for watching, Jioalie!
Yhis sounds like advice for supee cheap, low price point stuff
Thanks for sharing your thoughts! It's true that these tips can be particularly helpful for budget-friendly options. However, they can also be applied to higher-priced items with some tweaks. Feel free to share any suggestions on how to adapt these tips for more premium products! 🙂
@CreativeHiveCo You are right about that. And many many people make items they label "hand-made art" and their mission is to just sell something/it. If that is the goal, this formula and perspective can be quite useful. 👍🏻 As an actual artist that creates art for the enjoyment of art, it is caustic (to me) to so frequently hear (so-called) art being defined by the lowest bar possible: it's selling price. Pricing and selling is absolutely important, but they are not the soul of art or creativity. Maybe I'm an art snob (but definitely not a snobby artist)- ya think? 😆
Have you discussed sales taxes and if it’s better for “taxes added on” or “tax included”. (I’m in CA, and i can do tax included if i post it). Would I up the price of my item if i do “tax included” to account for sales tax? Any insight would be great!
Hi there! Taxes can be tricky for sure. This is really something you would want to run by a CPA.
💓💓💓
Thank you so much for watching!
At 4:49 If I made candy and people were willing to pay $7 for it(7ct), but my material cost is around $12 How much would I have to sale them for to make a profit? And should I only use the '2' multiplier bc of percieved value for made from scratch candy?
Hi! You can check out the links below to know more about how you should price your handmade products:
ua-cam.com/video/H3r9M3QhnNQ/v-deo.html
www.creativehiveco.com/pricing-handmade-items-guide/
Hope that helps! Good luck!! 😊😊
Hi there! I love your videos. Can you let me know why you have 23$ items, why not charge 25? Same for the 28$ price point you mentioned. I have some products I price at 22 and 26, and am thinking of switching to 25 and 30
Hi Bethany! The best thing you can do is test different price points! Raise them, lower them, and monitor sales over time.
My reasoning behind $28 and $23..
I've seen that getting into the $30 range for me drastically lowers sales. $28 kind of still feels like it's in the $20's. Even though it's closer to being $30.
And $23 is using $28 as an anchor. If my prices were $28 and $25, the difference wouldn't be great enough, and the intention is to show people that the lower priced items have less detail than the $28 items. If the difference between the two levels are too similar, it can confuse customers.
Ultimately it's what I've found to be my sweet spot after years of testing! I started with selling my products for under $10... back when I didn't know what I was doing!
@@CreativeHiveCo thank you SO much, that is incredibly helpful. I'm in a similar pricing range. I have moved my prices around- an example: at 19.50$ I have a 3% conversion rate, at $29.50 I have a 1% conversion rate. So I've kinda figured this out after a couple years of moving prices around, I'm just trying to settle on something that gives me the amount or orders I can handle (that 3% conversion rate, while small, kept me SO busy). So I'm leaning towards 24.50 now.
@@bethanydueweke7492 I love that!! Numbers don't lie. 👏👏👏
Are there any sites that let people bid on your jewelry?
eBay has an auction format, though you're probably going to find that people there are looking for a bargain. I personally wouldn't want to sell my jewelry in an auction format but would rather set my price for what I know will make a profit.
Do u have a video for handling business competition
Most definitely! ua-cam.com/video/OwAUAa0Gpkg/v-deo.html
In terms of cost, do we include the cost of our time. What hourly rate is reasonable?
Yes, you always want to include the time it takes ot make your item. This number shouldn't be confused with the profit you make however. So the cost of your time doesn't have to be super high, as you will make money through profits as well!
@@CreativeHiveCo Thanks. So, if a handmade item takes 2 hours to make, we could just factor in 2 X minimum wage?
@@carolhoey7784 That would be a good start! :)
Just keep raising your price until nobody buys it anymore then lower it a bit. It worked for me. I always wanted to know what the ceiling was.
Thank you for sharing!
@@CreativeHiveCo I know you think I’m kidding, but I was not. I started Kitchen manufacturing business right when house prices started to shoot up and up. The only way I could figure out the price was to keep raising it and raising it until eventually it toped out so Iwasn’t kidding. And even in your market and your product, you don’t know what people will pay in your area. You have to figure out you do have a way of pricing, which is good.
I’m having a hard time figuring out a price because my product is expensive to build.
Totally understand James! Pricing can be tricky especially if your product costs a lot to create. What products do you make?
Midieval propane fire pit