Pricing your work

Probably the hardest thing about selling your handmade products is pricing them. You don't want your prices too high but you don't want them too low either. I have read several blogs, and articles on how to price your work, I just recently realized I am making nothing probably going in the hole actually:( this was very hard news for me to hear and see.

This time on ETSY I have made several sales both online and off, I began researching how to make my business official and begin keeping books, it was only then that I figured out I was not making as much as I thought I was

I want to give an example
For my scrabble tiles I had listed them for $5.95
Expenses to make the tile--$2.18
Fees to sell the tiles-- $1.50
Shipping fees--$2.82
Total cost to make --$6.50

Wow that brings me to negative 0.55

I found this formula to price your work

Labor cost+ materials+ expenses x 2.5= retail value

For my scrabble tiles it would be

3.50+ 6.50(I have already added the materials and expenses together) x2.5= $25.00

That is a little too steep but that is what it retails for I am selling the for $8.50 for a regular tile and 12.00 for a custom photo pendant

I really didn't want to increase my prices but in order to make a profit I have to. At 8.50 please realize I only bring in $2.00 per tile sold

Until next time
Happy Crafting
Danielle C

New Trend in jewelry, now in Scrabble Tiles

As I have searched for jewelry inspiration I keep seeing these interesting but beautiful pieces.
Handstamped sterling silver with GPS coordinates of a special location, home address, just about anywhere.  I though yeah I can do that on my scrabble tiles and offer yet another option for my wonderful customers

I am going to offer the scrabble tiles completely custom you choose the color, you choose the font, you choose the coordinates.  It will be easy to do through the ETSY shop 

Go to this website to see your GPS coordinates-- just type in an address you want and it will generate your coordinates

1. Purchase the listing
2. Choose your font
3. Choose your background color
4. in notes to seller please give the coordinates (you can copy and paste from the website)
5. checkout using paypal the fastest and safest way to pay online
6. you will receive an e-mail confirming order 
7. You will receive a shipping notice e-mail with tracking number
8. receive your pendant and remember to come back and give feedback-- it really helps 

You say I really like this idea but not sure what I would use as my coordinates, here are some ideas
*a special vacation location
*home address if you live away or a college student to remind you of home 
*long distant relationship 
* your vacation home address
* an upcoming vacation and you could say meet me there
* and more 

now take a look at the pendants ( no editing done on these photos, sorry I just took a quick photo to share here)

Until Next time
Happy Crafting
Danielle C