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Feeling stressed out about the pricing of your products? It’s hard to know where to start, how much to top up, and whether the price is too high or too low. A craft price calculator can help you make this process easier. This blog post explains what a craft pricing calculator is, how it works, and why using one could be helpful for your business.
Learning how to price your projects for sale can be a really difficult process. You need to strike a balance between not charging so much that nobody buys the product and not so little that you work for pennies.
There are several factors to consider when deciding the price of your project:
- material costs
- Project size
- Complexity of the project
- How much time do you have to spend on it?
- Weight of the project
All of these factors can help you find a fair price on pricing. Many people like to stick to a simple calculation where they simply multiply the cost of materials by three (some will add a little more, say $ 10-20, while others like to multiply it by four).
It is important to get a competitive price for what is already in the market. I usually recommend trying to get somewhere in between when comparing your costs with others. Even if you have the most flawless projects, the best materials, and the most experience, most people tend to buy items that are in the middle of the range in terms of price.
While there is no perfect solution, we created this super-handy craft price calculator. Entering the following information will quickly show you the unit cost, retail product price, and the profit per product you are making.
I hope this helps you develop your prices!
Retail product price
Retail profit per product