Handmade Pricing Calculator
You've unlocked the handmade pricing calculator! I know that pricing handmade products can be a daunting task, and that's why I've created this tool to make it a little easier for you.
How to use your calculator:
Before you dive in, there are a few things you'll need to know. First, you'll need to have a good understanding of your material costs at full price, as well as how long it takes to make your product. You should also consider any additional costs that go into making your product, such as packaging and shipping expenses.
You'll also want to know the labor costs for your product. If you make the products yourself, you still deserve a paycheck so don't write $0 here. Including labor costs here will also set you up to hire help when the time comes.
Once you have a good handle on these numbers, you can then decide on the profit margin you'd like to achieve. If you're not sure where to start with profit margin, we suggest aiming for a 50% margin. Of course, you can adjust this number up or down based on your unique circumstances. If you'd like to offer this product at wholesale, you may want to start with 75% to leave room for your retailers to make money too.
Once you have information in hand, this pricing calculator will help you determine a fair and profitable price for your handmade products. I hope you find it helpful, and as always, if you have any questions or need assistance, please don't hesitate to reach out to firstname.lastname@example.org.