Your RETAIL price should be at least twice that (though a lot of stores end up charging more than 2x the price they pay - they have to pay mortgages, staff, insurance etc).
So if your materials cost $2.50, and you spend an hour making the item, you should be able to pay yourself a minimum of, say, $15.00 per hour (that's probably higher than you were thinking - and lower than it should be! You have a SKILL!)Īnyway, materials at $2.50, your time at $15.00, add say $1.00 for packaging etc - and the WHOLESALE cost of your item is $18.50. Figure the cost of your materials, include money to pay yourself for your time (or you're giving your work away!) - add in the cost of shipping/packaging materials, and a small amount for advertising/promotion - and decide what your price will be based on those items (and more, those are just some basics).
Really to end up still making a profit, you need to set your prices *for wholesale*.
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