With the full color manual that you receive with Craft Maker Pro and over 2 dozen online video tutorials we've got you covered. As good a deal as Craft Maker Pro is we've made it even better. Get these great free bonuses with Craft Maker Pro to really help your craft business boom.
Use Craft Maker Pro to automate your business, saving you time and money — Guaranteed! Tell Me More. Entering all of my inventory gives me actual numbers, not guesses about my yarn stash. Eva Terry 13Zenspirations. Lisa Palmer Never Bored Creations. It breaks my heart when I surf around Etsy or wander through a craft show and find absolutely beautiful handmade pieces that are completely under-priced. Some people will debate the value of using a formula when pricing crafts because they believe it oversimplifies a complex decision.
I do agree that if you simply plug numbers into a formula and don't consider other factors, you won't cover all of the issues around pricing. It would be wise to read more about pricing your crafts to ensure you have a deeper understanding of the considerations that go into getting the best price for your handmade items. However, you need to start somewhere, and a formula provides an excellent starting point. Let's not throw out an extremely useful tool just because it addresses some, but not all issues and doesn't completely eliminate the need to think about pricing decisions.
I believe, in the early days of building your business, when you are still learning the ropes and building confidence, a tool that simplifies the task of setting prices and helps you price your products strategically and not emotionally is exactly the kind of starting point you need to stay on track and ensure your business is set up to be profitable. Once you've applied a formula, you can take into account other issues such as the expectations of your target market and competitors' prices.
But the formula will give you a good, object starting point. Be warned, when you apply the formula to your work, you might be completely shocked by the price you come up with. I know, many years ago, I was absolutely floored the first time I ever used a craft pricing formula on a piece of jewelry I had made. There's a good chance the price you calculate might seem exorbitant to you.
It might be well above what you were thinking of charging or what others charge for similar items. The formula gives you an objective estimate of what you need to charge to build a business that is viable and has room to grow. It doesn't tell you anything about your customers' expectations or the current market for your product, or the perceived value of your work.
If the amount you have to charge to be profitable is well above the amount you think your could sell your crafts for, you need to take a serious look at your business. There's actually a lot you can do to affect the perceived value of your products.
In other words, if you come up with a price that seems far too high, don't just react with frustration and ignore the number. Instead, think about how you can bring that number down and still create valued work, or consider what you can change about your work and the way you sell it to ensure more customers would be willing to pay that price.
For me, when I was shocked by the numbers the formula was giving me, I made a few helpful changes including:. In the end, you might not use the exact price shown by the formula. It's not meant to dictate price; it's just there to give you a baseline. The formula will allow you to make some smart choices for your business, and it will push you to avoid under-selling yourself. When you price your crafts , you need to think about how those decisions fit with your larger business goals.
A formula can give you the clarity to think in such a strategic manner. There are a few different pricing equations that are typically used.
The one outlined below is the craft pricing formula that I like, and many professional craft artists seem to like this formula as well. Be sure to pay yourself a fair wage for labor. When you determine you own labor rate, use a wage that allows you to grow your business and accounts for the skill required to make your product.
Consider how much you would have to pay an employee if you outsourced part of your production process to an assistant. That's a good starting point for your hourly labor costs.
The US Department of Labor provides wage statistics for all kinds of professions, including the hourly wage for craft artists. Take a look at their data if you want to research labor costs.
Overhead covers expenses like tools and equipment, utilities, business insurance, packaging, office supplies, etc. These are the kind of sneaky, sometimes underestimated business expenses that can really add up. Full Specifications. What's new in version 3. Release September 1, Date Added September 1, Version 3. Operating Systems. Operating Systems Android. Additional Requirements Requires Android 4. Total Downloads 3. Downloads Last Week 0. Report Software.
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