The beauty of handmade products is that you can create literally anything.But how do you decide what to make when your options are unlimited? And more importantly, how do you organize your offerings so they are easy for your customers to select and purchase?
Pricing is part head and part heart. Part left brain and part right brain. Part 'what does it cost to make it' and part 'how much is it worth?'. As artists, it can feel like validation when someone pays the price we're asking, but are we doing ourselves a disservice if that number's not high enough?
Whether you're selling on Shopify, at craft shows, or out of the trunk of your car, pricing matters. If you don't know your product cost, stop everything right now and go figure that out. I even did the math for you. Determining your cost is tricky, but determining your price shouldn't be. This handy Profit Margin Calculator will help you determine your selling price in order to save money and increase profits.
Pricing is scary. It's putting a monetary value on this thing we made with our hands. As artists, we put our heart and soul (and often literal blood, sweat, and tears) into making our product. Pricing is complex, emotional, and often gut-wrenching. But it doesn't have to be.
Instead of pricing based on our perceived value, or worse, our competitor's prices, why not price our products based on facts and figures?