Hi! I just wanted to see if anybody else struggled with this and to let y’all know that you’re not alone.
But as a business owner in general, even though I don’t sell crochet as much as I used to, I’ve always had a really hard time pricing my items at higher price points, because I was just so adamantly believed that they would not sell if I priced them higher. And now I realize that I put so much work and effort in time and love into my creations and I can’t sell that for five dollars.
And if anybody else struggles with pricing or pricing themselves too low, I just wanna tell you that you’re not alone and that if you ever need help pricing items, I have a really good formula if you wanna know that.
But just where do y’all struggle with pricing in your crochet business? And how much do you usually charge for your crochet things if you sell them?
Love y’all 
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I would like to know that formula
I am currently making a blanket for someone at my church. They bought the yarn and are one of my teachers, but I just don’t know how to price it, so this would be very helpful;)
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for me I use a price per hour kinda thing basically, you charge yourself a price per hour. For example, it could be $8 per hour. So if smth took you 2 and a half hour to complete, then you could charge it as $20, plus matterials which would be like $5! hope this helpss
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Thing is, who would buy that for 25 bucks- seems overpriced although it’s the actual value of the item.
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For the formula, it’s
(Cost of Goods/Supplies) + Hours Worked( times Hourly Rate) all times (Desired Profit-I do times 1.5)= price
Multiply times to when selling to a store, or someone who is reselling your items.
For example, if I spend $10 on yarn, 2 hours making a pillow, and then my hourly rate is minimum wage (at least) it’ll be
10+2(12)= 34(1.5)= $51
This way your business will grow in a responsible, sustainable way. Otherwise, if you are trying to build a business, you are losing more money than gaining and you will eventually lose your business
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I used to go by $1 per inch height of item, and then I went with cost + hours to make.
Now it’s what I know my target buyers can afford, which means I make less than $2 an hour. I’m not crocheting to sell so much anymore, because less than $2 really did take all the enjoyment out of it.
One basic formula example I’ve seen is: $10 in material + (4 hours x hourly wage of $25) = $110, and then some sources say you need to 4x that. So that cute little desk buddy is now, apparently, worth $440.
No one is going to buy a little desk buddy instead of paying bills and/or 1 - 3 months worth of groceries.
And yes, I have seen people set an hourly wage of $25 for themselves.
