Pricing????

Hello! So i have a market coming up in october and i need a few pointers for pricing and inventory. My goal is 500 USD but i doubt ill get that far lol
I made a turtle. How much should i charge? I asked my family and a friend or two and everyone said 35 dollars, but that seems like a lot? I spent about 1 and a half hours on it.

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I agree with the price of $35. Most creators I have see doing Market prep videos on YT or TT have the med sized plushies at around that price. PS it is adorable!

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For pricing, what I take into account is to think of it as a job. You have a few things to consider.

A job comes with an hourly rate, which in many jobs does not include a few things. So, say you wanted to get paid 8-10 dollars an hour as a novice. (5-8 for novice, 8-12 intermediate, 13-20+ for experienced? I dunno)

You then add:

materials - yarn, hooks, safety eyes, etc. Charge per skein rounded up. (If you used two skeins of A and 1.3 skeins of B, charge for 4 skeins) Your hooks and safety eyes probably weren’t expensive individually, so add like, 50c to 1$ ish
Here it looks like you used less than a skein of at least 2 colors, and the fluffy yarn tends to sit around 10/skein… ish. So, add 20$

overhead - costs like gas, paying for your spot at the market, etc. This gets broken up per plushie you expect to sell. You want to make 500, so… I dunno, let’s go 5/plushie?

10/hour + 20 for materials + 5 overhead = 35.
(Technically my math is wrong here since you said an hour and a half, so would be 20 + 21 + 5 = 46, but I’m bad at math, use your own. ^-^)

You’ve also done market research; friends, family, acquaintances, all said they would pay 35 for the turtle. That’s not them saying how much you should charge, that’s them saying it’s how much they would pay.

So 35 looks reasonable. Ish. Some numbers may vary.

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$35 seems fair, you spent a lot of time and resources on it, but I personally prefer to do my prices based of size, because the bigger it is the more time and resources spent. I would price that more around $25 but $35 also seems reasonable, it’s just a preference of mine.

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$35 doesn’t seem like a lot. Especially since I have an amigurumi priced at $110 dollars lol.
I charge for time + materials + sales tax.
Let’s take my no sew bees for example:
I charge 12 dollars an hour for them.
They take 30 minutes.
They use about 5 dollars worth of yarn.
Sales tax in my state is 4.225%.
So 6 dollars for time, 5 dollars for materials, and about 46 cents for tax.
Comes out to $11.46 and then I just round up to $12 to make it easier :]
Edit:
I did the math because I was bored. I estimated costs but here’s a kinda guide?
$16 times 1.5 hours =$24 for time.
Plus about 10 dollars for materials =$34
And then sales tax in my state takes it up to $35.30 and then you can round up or down.

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A lot depends on your location also. New York City and small town Nebraska are two different factors to add in. When adding the cost of yarn, I like to add the “replacement” cost, not the sale price I got.

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Definitely 35$ i made a turtle the exact same size as that one and i priced it at 35 CAD

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As everyone said, 35 is a great price! Dont undersell your stuff.

Generally, for markets, i make about double the inventory I want to sell. For instance, i want to make 600 USD ill make at minimum 1.2k USD in inventory. Sometimes ill make more. I find my best markets are local craft fairs (schools, churches, farmers markets). And I use a 1:2:1 ratio. I have some cheap things, some expensive items, but at least half my stock is 20-40USD, and then i fill in around that.

This has worked for me, but it will take some experience and some different shows to really find the niche and what works best in your area.

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35 is a lot, you did work super hard on it though, I would say 15 maybe or maybe 20 idk I’ve never ran a crochet shop before, my projects are too precious to me :joy:

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$35 is a good price, I see people selling medium sized plushies about that size for $30-$40

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i had this guy at my market and sold him for $25, since he was detailed. I would say about 25-30 for the turtle! you could start at thirty, and if he doesn’t sell for a while then mark the price down!

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I think like $14.97! I charge $7 and hour so the time price should be like $10.50! And the rest is for material cost! I run an Etsy shop and that’s how I price my stuff! And if you think that is cheap for it, you are doing a market and I think there will be some kids or adults wanting to buy the plushies for their children and I personally don’t like having high prices for children!

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The size doesn’t really matter either! You would like a fair price on how much time you took and materials! You can also add a few more dollars to get a bit more profit!

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