wow! 4 days since my last post not bad eh!!! STILL not got into studio to do some bead making but have managed to get 3 items of jewellery made!! and priced them. so much better now I have got precise stock lists with unit prices on them! I have broken down stringing equipment to price per cm some of em work out stupid at 0.001p per cm but as my hubby says I gotta cover my expenses.
The thing I am finding hard is what to mark up prices to in order to sell! Initially I though I would just double stuff so if it cost a fiver to make then sell it for a tenner keep it simple. Then I saw a discussion on Frit Happens that suggested three times price to make and with perfectly good rationale for this mark up! This does not make me comfortable though for many reasons! For example I bought a chain maille kit from Tania at maille queen just to have a go and I made a gorgeous byzantine bracelet that I do not take off at all I love it but I digress....it cost me about £25 to buy the kit so working on principle of triple I would sell it for £75 people just would not buy this at that price. I know it is handmade an all that but £75!!!!!!!!! I think now that pricing is all about having a principle and then being flexible within that principle. It is about having an idea of what the competition are selling their work for and not undercutting them cos I should value my work as well but it is also about not pricing myself out of the market. This is one business that is not going to make anyone a millionaire, in actual fact all I want to do is make enough money to keep my in equipment!!! and upgrade occasionally! Goodness pricing is one thing I do not like doing!!!
One other thing before I sign off for the night.....I think I am about to take the plunge with the website thing. My BIL designed my site for me and I am totally grateful cos I am not techie minded etc. He has done a fab job but I have got to the point where I want to be able to change things and revamp bits etc and I can't do html....and on top of that he has decided to charge me for the service! Not a lot but it will soon add up and I refuse to use my personal money to do this that is why I got a business account! Anyways I found mr.site takeaway and although there appear to be glitches (what hasn't) I have decided to give it a go. Haven't had the guts to speak to my BIL though he is going to be pee'd with me and I don't want him to cos I am genuinely grateful but I have learnt stuff and want to do things myself!!!
Oh well I will sort this out, better go for now ranted enough!!!
TTFN
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