Monday, June 6, 2016

How I price my Handmade Products

How I price my handmade Products

Coming up with a good and reasonable price for my products are sometime tuff and challenging. That’s why I had to meet up with my business planner/ mentor to help me understand how pricing work. I learned that if I want to succeed in business or even learn about the legal part of owning and starting a business I have to go to some sort of entrepreneur class (her class).

Here's my favorite formula: Materials + Labor + Expenses + Profit = Wholesale x 2 = Retail
I sell most of item by the batch because it so much easy to make than to make one item which I think it’s a waist unless I am opening a store front or going to craft shows.
Some people have their own way to calculating their prices, but this is what work for me.  
Lifeline Business Consulting Services offers classes, resources and support for the entrepreneur and small business here in the Metro Detroit area. Check them out TheLifeLineNetwork

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