price crafts for sale

How to Price Your Craft Items price crafts for sale

This is a question that comes up ALL THE TIME!! I get it. When I first started I undersold myself so bad, it was astonishing I made a profit at all. I never accounted for my labor. When I first started I was selling T-Shirts for $12 y’all. This is so bad, but my calculations it was a fair price. I figure I was buying Gildan or Anvil cotton tshirts for 2 ea. Vinyl I calculated at $3 per shirt, even though realistically it as probably no where near that. In my mind I was making $7 a shirt. Not bad right??

WRONG!!!

Not only was I undercutting the market, I was undervaluing myself and all other crafters. It wasn’t just T-Shirts either, I was selling wine glasses for $8 each and make up brush holders for $5!!! I thought if I gave my customers a cheap price they would buy more!! WRONG AGAIN!!

I needed a formula and QUICK!!

I am going to share it with you all! You can use the SAME formula for ANY item that you make or sell. I use a different labor rate for different items though. I am going to break down the formula several ways for you all.

Formula for pricing a screen printed TEE Shirt!

Screen Print T-Shirt Pricing

The total time it takes to order the shirt and transfers and press the shirt and package the item is less than 20 minutes. I will use 20 minutes as a baseline for a screen printed tee. My labor charge is $15/hour for this work. I use Bella Canvas CVC shirts, which cost me around $4 per shirt after shipping. Transfers cost me $1.50 (including shipping). Make sure you keep packaging in mind when you price crafts for sale. The packaging is around $2 total; I fold my shirts over chipboard and place them in a clear mailer. I add a sticker to the clear package and include care instructions and a business card as well as a packing slip. All of that gets placed in a cute poly mailer. I don’t calculate shipping into my price because the customer pays to ship.

Cost of materials X 3 = Price A.

$7.50 X 3 = $22.50

Cost of Materials + Labor X 2 = Price B

$7.50 + $5 X 2 = $25

Price A + Price B /2= Price C

$22.50 + $25 = $23.75

Leather Earrings

These take about 10 minutes, and my labor rate is $15/hour. Vinyl runs me roughly $3 per sheet, and I can get 10-15 pairs per sheet. I use sterling silver hooks, so it’s about $1.00 per pair. Jump rings are about$.20 a pair. Packaging again is around $2.

Cost of materials X 3 = Price A.

$3.45 X 3 = $10.35

Cost of Materials + Labor X 2 = Price B

$3.45 + $2.50 X 2 = $11.90

Price A + Price B /2= Price C

$10.35 + $11.90 = $11.13

Rolling Tray and Matching Jar

These take about 1.5 hours, and my labor rate is $15/hour. The trays I get for $1, the glitter is about $2.50 (I use biodegradable), adhesive runs me $.50, the vinyl design is around $1, and I use about $3 worth of epoxy. The electricity to run my turner is about $.50. The packaging is $3.50; I wrap them in bubble wrap and tissue paper and ship in a box with a thank you sticker and care instruction card.

Cost of materials X 3 = Price A.

$8.50 X 3 = $25.50

Cost of Materials + Labor X 2 = Price B

$8.50 + $22.50 X 2 = $62

Price A + Price B /2= Price C

$25.50 + $62 = $43.75

I think that’s enough calculations for now, but you get the idea, I hope! Make sure you take into account what your market can handle! I’ve sold MORE than ever before since I have raised my prices. There is a really thin line. If you price things too low, people might think that your quality is sub-par, and you have to set your prices that low to sell anything. If your rate is too high, people will look elsewhere. That’s where price C comes in.

We have had to get a lot of repair work on our home recently and about to begin the remodeling process. We generally get five estimates, and we usually choose the contractor that is right in the middle.

I hope this helped price crafts for sale.



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