Pricing is a struggle for so many artists.
Am I charging enough? Am I covering my costs? How do I set wholesale prices?
There are tons of different ways to calculate prices. And lots of debate over which one is ‘best’.
We’ve spoken to hundreds of jewelers – professional, hobby, retail locations, studio jewelers, etc – and have discovered there is a lot we may be missing when calculating our costs and pricing.
Are you 100% confident you are covering ALL of your costs?
We’ve discovered that many artists THINK they are, but in reality – they are not. And a business that doesn’t cover costs is not sustainable.
Besides the ‘obvious’ – materials costs and your time/wage – what else should be included?
What about overhead? How do you determine that?
Are you accounting for all of the ‘consumables’ that you use ? (What ARE consumables anyway??)
What about marketing, business supplies….?
Let’s face it, you use a LOT of items to bring a piece from design idea to handing it over to a client.
We’ve got several posts coming out that will walk you through some of this – but the best thing we’ve done is created a workbook to help you document and calculate your overhead, set your prices, and track your inventory.
After reviewing all of the information from various artists and galleries, we’ve selected 4 formulas that lend well to wholesale and retail pricing which will alleviate any guesswork and help to ensure integrity in your pricing structure and make certain that your business is profitable and sustainable. This is a comprehensive workbook based on methods that have been proven successful by numerous jewelers.
One free edit is included with each purchase so if you need a line item that isn’t there or have some other change that you need assistance with – we’ll help you out with that.
Offered at an introductory price on Etsy for a short time.
And stay tuned for the rest of our pricing series!