Are these fair prices for hand-made flower crafts?
I have rented a table at a flea market at my college where I will be selling silk flower hair clips in various sizes as well as pens with silk flowers on top. Are these prices fair?
Here are the hair clips (3 sizes – small to large) They are sprayed with glitter and have jewels attached and can be clipped in your hair or just about anywhere:
$2 for the small flowers (orange ones on the left)
$4 for medium (in the center)
$6 for large (far right)
Then here are the pens:
I was thinking $7 each for these
I will also sell little sets with a pen and a decorate flower pot:
I was thining $10 for these
Are these prices fair? Would you buy them at this price and are they still fair to me as a seller? BE HONEST!
When determining the price of a handmade item, first decide how much you want to make hourly, and add the cost of the items doubled. This gives you a good wage, recoups your costs, and allows you to make more.
So if your materials for one clip cost $1, and it takes you 10 minutes to make one, you would figure out your hourly wage. Let’s assume you want to make $10 an hour. Not a great wage, but you’re doing this for fun, right? 😉
So $10 an hour divided by 60 minutes means each minute you should make approximately 16 cents. it took you 10 minutes, so $1.60.
Now add your cost and profit: $1 for the cost, $1 for your next one, and $1.60 for your wage.
$3.60 for a clip.
So figure out how long it takes you to make them, how much it costs, and how much profit you want to make, then set your prices that way.
Underpricing your items can make them seem cheap, and people won’t want to buy them. Overpricing will scare off some people, but as long as you set a reasonable price and people want your product, you’ll do okay. Crafters ALWAYS start out way too low. So try this formula.
I would pay that amount for the hair clips. They’re very nice.
I however would not pay $7 for one pen, or $10 for the pen/flower pot.
I’ve been doing art and craft items for 40 years and I have never found a great way to price them.
1) flea markets are not a place to sell craft items in my opinion because people are looking for “junk” at a flea market. But give it a try. Your cost to set up is usually lower than a craft show.
2) remember your cost of time and materials and also, the set up fees, gasoline to get there, display expensive, food and your time at the show ALL NEED TO BE PAID FROM YOUR SALES. not just your manufacturing time and supplies.
3) Don’t under price. Look around at different stores, can you find a similar items and what is it selling for. You will have to compete with imports.
4) Make up a lovely display of your items and call on specialty shop and see if you can get some orders for your items. And they need to be nicers than IMPORTS, because that is your biggest competor on these items.
5) And what if someone came up to your booth and wanted to purchase 12 dozen of several of them, These people will expect a discount and your prices need to be able to allow for this reduction.
I have found that I often have a number of way I price. At a low end show, I’ll mark them a retail price with a sign saying buy 2 get one free, or something like that. HAVE A SPECIAL.
I remember one item that I wanted $15. for and it did not sell when I marked it $19.95 it began to sell.??????Could not keep up with the demand after that.
So be prepared to be flexible. Watch your competitors, and be prepared to double step.
I would pay the prices for the hair clips, but I think your other items are overpriced. I would pay no more than $3 for a single pen and no more than $5 for the pen/pot set. I don’t know how much you paid for the basic materials to start with, so you might just about “break even”. Keep an eye out for sales in the future on the items you need to make these crafts. This will give you more of a profit in the end. GOOD LUCK!