Are your handmade prices TOO high? Pricing formula giving you crazy numbers? Here’s what to do

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To run a successful handmade business, you NEED a healthy, fat profit margin for every sale you make.
So… the question becomes: How much are handmade products really worth? How can you charge more while still making sales? And do you decide how much to charge?
Let’s dive in.
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[@Tizzitco]

Have you ever dropped your prices to be more “competitive”?

[@jen_crochetfun]

When I first started, I tried that. I quickly found I was working for less than minimum wage, sometimes for free once ads and fees were factored in. I wish more Etsy sellers would charge for their labor because it makes it harder for the rest of us. For example, when people charge $10 for something that takes 4 hours to make, there is no way to compete with them. They might say that they don't care if they make a profit, but they don't realize they are hurting the people who actually want to have a business and not just a hobby.

[@as-1982]

I’m not a handcrafter nor am I a seller but to me there is no such thing as too high prices. Just look at at Jane Birkin bags or Roll-Royce cars. Some people still buy them even though the prices are beyond imagination and they have to wait several years to get them. There are always people who buy expensive products as long they’re high quality products.

[@Tizzitco]

Yes, it's all in the positioning and perceived value! Thank you for sharing!

[@as-1982]

@@Tizzitco You’re welcome.

[@kahoycrafts]

Thanks Deborah, this was very helpful. I recently raised the price by more than 50% on an item that was selling somewhat consistently, because it didn't account for all of the labor. To my surprise I sold one the next day! 😄 You're so right, as makers we naturally undervalue our products.

[@Tizzitco]

Wonderful! Thank you for sharing this, Michael!

[@bubblebakingbunny3258]

Thank you Deborah 💕much needed

[@Tizzitco]

Glad you liked it! Thank you for watching!

[@esliet]

Excellent video. You explain all so well

[@Tizzitco]

Glad it's helpful!

[@janine1744]

Thank you

[@Tizzitco]

My pleasure, Janine!

[@KatrinaT]

Where would I find your calculator?

[@Tizzitco]

You can find it linked in this blog post ➡️ tizzit.co/pricing-handmade/ :) hope this helps! - L