I believe, Never Allow another person's budget determine your prices.
@TaraLeee4 жыл бұрын
so true!
@truthspeaker22494 жыл бұрын
Tessie Dobey I agree a disagree cuz if they can find a cheaper price they r hooked in
@peacheskong22454 жыл бұрын
Kind of inconsiderate towards your clients?🤔
@fancy34004 жыл бұрын
@@peacheskong2245 if you think about it's not really because you are buying the materials and Spending your time making it and it wouldn't be fair to yourself to charge way to less than how much it took to make the item because then you would be cheating your own self out of the hard work you did.
@heavenlyescape19394 жыл бұрын
Tessie Dobey my mama says the same thing!
@Coffeecup.01104 жыл бұрын
I made liquid Castile soap tonight! I can’t wait til morning to see what it looks like! Thanks for your tutorials! Yours is the best I have found.
@SerenityJaeHandmade4 жыл бұрын
Omg! Your god sent. I’m getting ready to launch my lip gloss business and this was the last step I needed. Thank you sooo much for sharing. You rock!!
@TaraLeee4 жыл бұрын
so glad i was able to help :)
@nqobilemdlovu32834 жыл бұрын
Hope it's going great
@Sooz31124 жыл бұрын
Very helpful. I charge a price I'm happy with...even though some potential customers may think my products prices are high - they take a lot of time to make. Each item is handmade. We have to make sure we put our products infront of the right buyer and show buyers why they 'need' our products. Thanks for the Etsy calculator x
@TaraLeee4 жыл бұрын
Totally true!! handmade products take a lot of time and patience. Glad you found my video helpful :)
@chuchisbestlife93964 жыл бұрын
how did you calculate your overhead cost in the very beginning of your business? I am about to launch my business next month so I have no idea how many items I will sell in my first year.
@marias81394 жыл бұрын
You are so sweet and very Genius!! Thank you so much for making life easier for so many new entrepreneurs out there who have just started out and looking for these tips and advice. Thank you
@toxicsoda88313 жыл бұрын
I'm actually working on opening my etsy and I was so lost about pricings and fees... and i found your videos and omg it helped me so much! Tysm!!
@MeetTheBratchers4 жыл бұрын
You always come through with great content. You're amazing! We are launching our product on Saturday and have been watching your videos long before we started. Keep going with the great content, it's appreciated! ~Chyna
@gogoshire3 жыл бұрын
This was so helpful. I had been doing cost to make item and then adding it what I wanted my profit margin to be. I wasn’t adding in overhead or labor, or considering wholesalers retail. I went back to my first year and my overhead was high bc of equipment, so when I divided it by products sold, it was $7.20 per product! Seems like way too much to add on. I know this year will be lower, but it will still be high as I am still investing. Very glad I found your channel.
@secretbeautes1 Жыл бұрын
Can u help me understand the labor part if u don't mind me asking
@kendr444x Жыл бұрын
@@secretbeautes1 what don’t you understand? maybe i can help
@melaniestarr64544 жыл бұрын
Thanks this was very helpful! I am wanting to start a coffee body scrub business and need all the information I can get.
@oluchi_theresa4 жыл бұрын
Hello, concerning the overhead. You calculated based on when you've done the business for a while, what if you're just starting and you you've gotten all the equipment you need (overhead) but since you just started you can't divide it by your sales cuz you've hardly made any sales. In fact you're still trying to figure out how much your gonna price it for to start selling. So my question is, what do you do then? How did you figure out your price when you were just starting your business? Cuz I'm just starting I don't think this question can fully be answered in the comments so could you please please make a video answering these questions and explaining? It would really help. I'm really looking forward to your reply, thank you
@annisanurulfirda56804 жыл бұрын
Just found this channel. You're such an inspirational!
@silviamtz896111 ай бұрын
Thank you so much for your formulation! It's overwhelming but VERY necessary.
@CMV314 Жыл бұрын
Great video. That said, every business will have their own unique formula. For example, a high-end company using this formula may destroy their brand if the price comes out too low.
@natashamitchell77832 жыл бұрын
You are a LIFESAVER!!! I want you to know that I sincerely appreciate your videos, and willingness to share your knowledge. I am trying to learn as much as possible as I start my small business. You are amazing! Thank you so much!
@munazzasalahuddin43544 жыл бұрын
Thankyou Tara Lee for this detailed and informative video. I am soon going to start my handmade soap and lip balm business. After watching your video things are clear for me now about how to price the product. Thank you once again
@victoriadorce421511 ай бұрын
I don’t know how I found this channel ❤ This is my sign that God really wants me to start my business. This channel is Gold 😊 Your a blessing
@bpjog254 жыл бұрын
How do you adjust you prices when you've already started low and now you need to raise the price?
@kioniwallace79494 жыл бұрын
Hi, what I do is slightly update the product (maybe packaging or add another ingredient) and reintroduce it with the new prices. I usually wait until the older one is sold out so there are no price clashes. Hope this helps!
@anushka94636 ай бұрын
This is very informative, thank you. And your cat is super cute😍
@aliatv86512 жыл бұрын
I needed this video ❤️ I can’t believe I didn’t come across your videos last year
@asmarhouma15854 жыл бұрын
Thank you so much Tara ❤️ I was thinking to start my Cosmetic Business and searching for proper guide then I came to your video nd I realized I'm on right place.... I am watching ur all videos and gonna make my brand soon.... A big fan from Tunisia TN
@godsbabygirl1697 Жыл бұрын
Hi Tara thank you so much for your video very helpful. but how do you calculate the supply cost that you came up with $1.50 can you please show me
@theewendialexis4 жыл бұрын
I really love your channel! So genuine and informative!I always learn something new.
@JulieOpia4 жыл бұрын
Thanks Tara!!! Your videos are really helping me especially with pricing and preparation.
@andrenpitts14914 жыл бұрын
Awesome job on doing skin care products and good video on handmade goods
@sarahsmiles32712 жыл бұрын
Thank you. Starting my business now
@fayanisxm4739 Жыл бұрын
Hey tara i know this is very long and difficult to do, but do you mind doing an upgrade video on this? do you still go about this the same way or have you changed the way u price your products now
@TaraLeee Жыл бұрын
i still go by the same method. i may still do an updated video though.😊
@fayanisxm4739 Жыл бұрын
Oh great! Thank you! I’m recently repricing and I’m going with this method so I was just wondering
@kendr444x Жыл бұрын
@@TaraLeee we would love an update! would any subscriptions (shopify, canva, etc.) be considered overhead ? also, would your startup cost be considered overhead as well? it’s soo hard to price things when you’re first starting, so if you do an update i would love if you could include a few more tips about starting :) i love your channel btw 💕
@Itsafreenqureshi3 жыл бұрын
Your doing a great job. Your videos are easy to understand & quite helpful. Thank You. :)
@russellbarton75655 ай бұрын
I just started so I have to go through the cost so far. Haven’t gotten to the boxes and bubble wrap yet.
@withsoleil4 жыл бұрын
Thank you very much! I was looking for this info for a long timeeeeee
@TaraLeee4 жыл бұрын
I'm so glad you found my video helpful :)
@andrenpitts14914 жыл бұрын
@@TaraLeee I Love you Tara
@nylevettemilligan88294 жыл бұрын
ABSOLUTELY WONDERFUL! Thanks Lady T!
@kayleighdunneofficial454 жыл бұрын
Have been seeking on Etsy for a year now and I really needed this thanks
@wendym52754 жыл бұрын
This is interesting. I have spent 1000s on ingredients, as I only buy sustainable, vegan, good quality ingredients and I make great products-if they are not 100% I discard them or give them away, but nobody buys anything unless it is cheap, as in, cost price. They always say it is great, but when I raise my prices to include a small fee for my hours and hours of work they don't buy.
@rivameow2 жыл бұрын
I somehow accidentally found your video (the body oil recipe one) and at first you catched me with your vibe (unicorn vibes) but yeah after I watched that video I was like wow she's the real deal. Like your contents, I know these clips quite old now but hey how are you doing?
@baileygladle14463 жыл бұрын
My name is Bailey and I am starting an Etsy shop called HighVibesGemini to sell crystals and handpainted boxes. I’m having trouble with pricing my boxes. They take me a few hours to make including sketching the design and painting but not including drying times. I’ve tried the pricing formulas and that makes my products very expensive. If I pay myself 10 dollars an hour (which is less than minimum wage in my state) for 3-4 hours of work plus my supplies costs and mark that up that makes just one of my boxes priced at over 100 dollars. I’ve looked on Etsy for competition prices and the price range for similar handpainted boxes is much more affordable. I want to make my products some what affordable but also not sell myself short at the same time. I don’t know what to do and I’m worried the high prices for my boxes when I’m just starting out would ruin my chances at growing as a business. I work full time and I’ve put everything I have into starting up this business and I don’t want my obscene prices to tank that.
@gayatri263 Жыл бұрын
Thank you Tara. God bless you
@MrHerks3 жыл бұрын
This is such a great video! I’ve watched it twice now, I’m a new business owner (soap and stuffs) and don’t have a year or 2 to calculate overhead, how would I factor that in now so I wouldn’t have to raise my prices later? Thanks, appreciate you :)
@destinyarmstrong38874 жыл бұрын
I am very grateful for you and your videos. You are truly a blessing. I am in the process of starting my own skin care business. I have yet to start a youtube channel. How did you get started here and what was your challenges?
@chuchisbestlife93964 жыл бұрын
good luck to you!
@lealiwag2 жыл бұрын
Super informative!!! Thank you for the breakdown!
@smallforestdweller69993 жыл бұрын
You made that so simple to understand! Thank you so much!
@russellbarton75655 ай бұрын
I created my own hair growth formula but ofcourse there are only a million hair growth products on the market. As a bald man for nearly 20 years I know the majority of them are expensive and don’t work. But I have been using mine on myself so I know it works
@kimtaylor6494 жыл бұрын
Great info. I’m about to binge watch your videos
@rebeccariddle95374 жыл бұрын
This is very helpful, thanks for sharing xx
@TaraLeee4 жыл бұрын
I'm so happy you found it helpful! :)
@annisanurulfirda56804 жыл бұрын
Tara,how do you calculate the expiration date on product?
@Kashikoi824 жыл бұрын
Best practice is to look at all of your ingredients for your product and see what the manufacturer recommended life is for each one. Whichever has the least or shortest shelf life should be your completed product shelf life....
@petersurdo49843 жыл бұрын
Excellent information. Thank you.
@swativikas49973 жыл бұрын
Thanks..before watching this I was so confused
@rashisharma79564 жыл бұрын
Really very useful.... I'm an indian bt i don't have any Indian youtubers making videos on these topics. Thanku so much for this..🙂
@sandyjackson8273 жыл бұрын
Great information Tara! Thank you SO much!
@ladybugxoxo4 жыл бұрын
Omg it was totally kismet that you posted this today. I'm pricing today for my first etsy biz. Thank youuu
@Emo_20114 жыл бұрын
I am hooked thanks i just started and I was hang up on price
@Helenjojoful4 жыл бұрын
I found your channel today and I am hooked.
@sb56534 жыл бұрын
How do you go about adding in shipping costs for supplies? Especially because shipping costs will constantly differ with how much you order, where you order from etc.
@sophieclare60004 жыл бұрын
Shannon Bednarz I think she meant the stuff for the shipping, like bubble mailers, bags to put your product in, business cards, Thankyou cards, whatever you wanna put in it, not the shipping cost as thts a separate cost and not in the product. If tht makes sense?
@MehediHasan-yc7jd2 жыл бұрын
Hey Tara ! I like your video. Take love from Bangladesh.
@Robin-xd3nx4 жыл бұрын
OMG ! THANK YOU , THANK YOU ! So much for making this video. I too make homemade products, and I didn't know how to price them. Who do you recommend for a organic soap supplier that does not use glycerin or vegetable oil?
@Coppertoe26 күн бұрын
Great video. I'm curious why you sell on Etsy. Why not on sell only on your own website to avoid Etsy fees?
@hoodempress90822 жыл бұрын
Hi Tara! I know I'm a little late to getting to this video, but I'm confused a bit. I'm just starting out, I gave myself an overhead cost of 150 for the rest of this year, but I haven't sold any items yet, although I plan to in late November. Should I do the formula for finding the overhead expenses based on what I plan to sell or hold off for now because I haven't sold anything. I want to have accurate pricing but I also don't want to base it off numbers that could still potentially change. Looking forward to hearing back from you!
@aininmardhiah4 жыл бұрын
Thank you Tara for your great knowledge sharing..Love from Malaysia.
@lilliansamson86803 жыл бұрын
The minimum wage in British Columbia Canada is 15.20 per hr. And shipping of goods is very expensive to my house. I live in the north. So my products are going to be expensive! Using this formula.
@lexusmonroe42774 жыл бұрын
How do you know how much ingredients is in a product? Like for example I make a formula for a face wash but the formula makes more than 1 face wash. How do I know exactly how much ingredient of each product I put in that bottle if it fills more than one bottle? I hope this makes sense. Just trying to know how to price my product as accurate as possible. BTW I watch all your videos and the way you explain things really helps.
@TaraLeee4 жыл бұрын
The way that I do it is I calculate how much it cost to make a large batch of product. So if I make a 500 gram batch of face wash and it costs me $10 to make it then that means 1 gram of face wash is $0.02. So if I am bottling up a 2 ounce bottle of face wash I times 0.02 by 60. Since 60 grams can fit in a 2 ounce bottle. Then I add in the price of the bottle/label etc. That is how I figure out the cost to make a product. & of course I add in labor cost and overhead costs as well, like I mentioned in the video. Hope this helped
@angelfredrickson86322 жыл бұрын
This was incredibly helpful. I have been trying to figure this out for over a month now. You broke this down so that it was easy to understand. I am going to get started on this now and see what happened. Thank you!!
@morex981 Жыл бұрын
Very informative, thanks.
@nia.aleese4 жыл бұрын
Another great video! Thanks for sharing❤️
@addisonday14 жыл бұрын
This information is gold! Thx
@sapphirehaynes57684 жыл бұрын
good work TaraLee thanks for a great insight
@TheCocoglam13 жыл бұрын
throughout great... & last 2 mins awesome
@fiona5894 Жыл бұрын
Oh TaraLee Amazing thank you so much I’m in Australia and our postage is huge but I’ve been seriously undercutting myself here this has been a fabulous video! I have emailed you and hope to get a reply soon
@debra74494 жыл бұрын
Thanks for the great info, Love Your cat 🐈❤️
@EstherCordelia4 жыл бұрын
I am making origami scrapbook kinda journal of everything you say and that blog. that taught you
@zeinahh6779 Жыл бұрын
Thank you so much, do you consider each empty jar or plastic container in the supplies or in the overhead?
@TaraLeee Жыл бұрын
suppliers. goes into the cost of item
@ediths.q.30974 жыл бұрын
Thank you Tara for this video!. I really love your videos, there is always something to lean, thanks :)
@jennifersno65864 жыл бұрын
New subscriber! This is very helpful!! What’s your background?
@JackelynDyanne4 жыл бұрын
Ima going to have to rewatch the video 😅 but this is done for every product correct?
@davidogan4 жыл бұрын
Hi Tara. Thank you very much for enlightening your viewers like me about such internal information. It is very helpful for new crafts producers who’s scratching their heads about how to set a fair price. It’s very useful and helpful. Wish you great success with your business. Bless you. :-)
@julie21494 жыл бұрын
Great information! I am starting off my business what number should I be putting in for my overhead cost? This is all new to me.
@naushinaktar96832 жыл бұрын
Where do you learn making skincare products?
@Bodycore-k2d Жыл бұрын
thank this helped a lot
@Meesha-Gay2 жыл бұрын
Thanks very informative.
@everythingproof4 жыл бұрын
This is useful. Even though I don’t have a handmade business
@vaishalirajendran74774 жыл бұрын
Love love love ❤️ Lots of love to you 🙂
@TaraLeee4 жыл бұрын
lots of love to you!!
@andrenpitts14914 жыл бұрын
@@TaraLeee did you paint your nails White
@andrenpitts14914 жыл бұрын
@@TaraLeee much Love to you 💛💙💜💚❤💖🖤💘
@hadeelahmad86244 жыл бұрын
Thank you dear that was useful ❤❤❤❤
@beyoutifulintentions4 жыл бұрын
Thank you so much this was very helpful!!!
@MrBlanco4 жыл бұрын
Hi Tara, just one question. I understand "wholesale" as the price you give customers who buy lots of your products, if so, that means you are not making any profit on wholesales, just covering production costs. Right?
@TaraLeee4 жыл бұрын
No you should still be making a profit with wholesale. If you follow the formula I share in this video then you should have a profitable wholesale price and even more profitable retail price.
@kristinelazo90673 жыл бұрын
Yes you do: variable cost + labor cost
@MrBlanco3 жыл бұрын
@@kristinelazo9067 I believe that still does not mean any profit, since you’re just paying yourself like an employee and not as an entrepreneur.
@sunflowervalleyhomestead10982 жыл бұрын
Forgive me because I am trying to understand. I make quilts and homemade products here on the homestead and by this equation I should be charging $378 for a 42x42 quilt. That is insane to think about for me. How on earth do you get past the guilt of charging that much?
@thatssewbobbiejo42374 жыл бұрын
This is so helpful. Thank you
@rosecultureofficial57583 жыл бұрын
You're the best I love you !! Thank You so much!!!
@yameiraelias14243 жыл бұрын
Hey Tara just to get more clarification, what is the reason for multiplying the labor+supplies by 2? Also, what it I'm just getting started and feel as if though I don't have an over head cost right now. Do I still add this into the formula? I have bought plenty of things just in the past month and am planning on selling my items at a local gym so I do have to figure out the wholsale price.
@didigogo1392 жыл бұрын
It's just so that you are earning enough profit for your product.
@celebtingz1698 Жыл бұрын
@@didigogo139can you confirm please @taralee
@anitachaudhary72244 жыл бұрын
Hi Tara thank you so much. My only questions is - As a beginner, I am struggling to calculate the price of one item that I make as I have bought a whole load of items! One of them would determine how many pots I will get but the others would last over a long period of time.for a long time.
@larajacquelyn4 жыл бұрын
Love this vieo I really found it very helpful!
@stephanienunez39242 жыл бұрын
Life saver 🙏🏽
@sharkweek444 жыл бұрын
Thanks
@andrenpitts14914 жыл бұрын
Congratulations on 40K 40000+
@lekenyahuddleston71062 жыл бұрын
What if you haven’t sold any products yet because your trying to price your products?so you won’t have anything to divide your overhead by.
@jasminewiggins4744 жыл бұрын
How do you calculate if you private label a certain item for your line ?
@shanettakillings72833 жыл бұрын
Did you find out?
@livefreewithcyndylee Жыл бұрын
Oh my goodness....according to this, my lip balm should be 10 dollars???? I know that part of my problem is that I select only USDA Organic products, whenever possible....and because I'm just starting out, I'm not buying in bulk. So I'm starting out with the cost of supplies already at double at what other people's supply cost would be. I have spent an insane amount of money, and I don't know if I'll ever see a profit. 😭
@Mah_fb3 жыл бұрын
Wooooww golden information
@imeldatobing88984 жыл бұрын
Good on you
@shaniquapeterson82017 ай бұрын
Hello your videos are amazing and right on time. I do have a question regarding oils, being im just starting out when it comes to oils(carrier) does it matter if they are "kitchen" type oils(from grocery store) vs actual cosmetic type oils(from a cosmetic website)? I have used Grapeseed oil by the pompeian brand which i get a 24oz for roughly 5.00 or so but have also been looking into ones on websites.
@LittleNintendoGirl4 жыл бұрын
I don’t understand well about calculating the overhead costs? And I’m close to a year old with my small shop and I would like to learn about it more ;0; I don’t get about how it all the costs ended as 2$. I assume it’s general but you take all of the overhead costs and sum that yo and divide them by the 12 months which is a year ;0; not sure if that’s it
@TaraLeee4 жыл бұрын
Hi there, I will try to clear it up for you. Add up all your overhead expenses for the year and divide that by the amount of items you sold that year. for example; you spend $1,000 on overhead costs in 1 year and you sold 500 items. divide 1,000 by 500, which equals 2. so then the overhead cost you add into your items is $2 this way you add in a little bit of your overhead costs into each item you sell.
@LittleNintendoGirl4 жыл бұрын
TaraLee oki doki that cleared it up thank you!
@777VIBRANT4 жыл бұрын
Thank you
@Lubnamelhem4 жыл бұрын
Thank you teraa for inspiring me but I can't do shampoo it cost me too much difference in currency plus shipping :(
@ericwilliams55182 жыл бұрын
Do people tell you that you look like Christina Aguilera when she was younger? Like from the 'What A Girl Wants' days and 'Genie In a Bottle'.