I have a crochet stand at a market in a few days but I’m not sure how to price things. Does anyone have any tips?
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You need to factor in the materials cost, price that you want to pay yourself per hour, and how long it took you to make.
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How I would price things out would be price of yarn + $2-$4 per/hour
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My price range is $3-$40 and it also depend la on the cost of the yarn and time it took to make the plushie
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I do materials + hourly wage + sales tax
So for example, my bees take half an hour and I charge $12 an hour for them.
They take about $5 of materials and the tax comes out to $1.04.
6 + 5 + 1.04 comes out to $12.04 and I round it down to $12.
My cows take about 3 hours and I charge $10 an hour for them.
They use about $10 of materials and tax is $3.78.
Total is $43.78 and I just round it up to $45
And this is just a base. You can change the price and the hourly wage based off what you think the item is worth
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Ok wow thank you, that really helps!
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I would recommend making sure the prices are realistic, such as would you pay that much for the item?
It does help if you have an idea of what items could go for in your area. Like if you know leggy frogs or chickens often go for $7 - $12.
One way I do this is also by watching market prep videos, though sometimes I just stare and think “$45…? How…? Why…? That would be $12 here…”, so I do recommend it for research purposes only to get a feel for pricing, and not as a guideline.
I have seen pricing models go “wage + materials x 4”, but when I’ve done that math with my own products it can go over $100. And then sometimes things like online listing/shipping/“booth space” fees are also added in, so that same item would be over $250.
That isn’t realistic. No one is going to choose buying a small $100+ plush instead of groceries. $8 or $12 is more realistic for where I live, for others it may be closer to $15, or even $24.
Yeah it can mean $2 - 4 per hour, plus materials, but it is more realistic.
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The materials.
And then how long it took x hourly rate.
Just remember, you wont sell anything if you pay yourself $15 an hour. I pay myself 5-6 an hour and theres people saying I should lower my costs.
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Can you give me an example of your prices?
I charge $10-12 an hour and I’ve never had anyone tell me to lower my prices. I did have like 3 people tell me to raise them though
Maybe it’s just an area thing?
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When I sell my stuff at markets I add in the cost of the materials, an hourly rate, and a base price depending on the size. If it’s a small plushie the base price is $1 or $2 depending on how small, for a medium plushie it’s about $5dollars as the base price and a large is $10 dollars. And for my hourly rate it’s about $7 per hour.
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So I sell things that take me half an hour for$3 and 1 hour for$5. But when I try to sell something thattook me 2 hours for10$, and peopl start saying “thats so expensive” etc. and when people you know are trying to suggest how you should price things… lets just say that one person ishould charge $15forsoemthing that took me like 4-5 hours. It might not sell at $20, which is what i was planning to do.
It prob does goby area and whatyour audience is.
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What size and quality are your plushies? I’m just wondering why others would think it’s over priced. It might be the size
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$3 ones are abt 1 inch tall,$5 is 3-4, and the ones i sold for 10 are about 6 i think
im totally just guessing
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Do you have a picture of your plushies you’ve tried selling?
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Huh, that’s really odd.
Most of the plushies I sell are $12-30.
My most expensive item is $110 currently and I’ve had multiple people consider buying it.
I guess it really is just different areas then?
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No I dont. I did end up selling the $10 ones to different ppl.
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Yeah obvi
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personally i do not charge for my time because i do it in my free time. but if you are charging your time i recommend setting a stopwatch on ur phone to see how much time it takes to make the plushie or whatever your making. then either do 5,7,or $10.anything less than $20 will sell out quicker than others. how i used to charge is yarn cost times the time it took u to make it. example: 9.99 + $10(per hour)=19.99 i would round it up but personally i see what other people are selling it for and i take a look of how big the plushie is and think about how much i would buy this for.
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