Pricing Crafts: How To Command A Fair Market Price
Author: Lindsey Ferris - Fairs and Festivals.net
One of the biggest mistakes that newcomers to that arts and crafts scene is pricing crafts for for too little money. Even if you are just doing it for a hobby and don’t need the money to live off of, you should be pricing crafts at a solid market price. This keeps the craft market alive for people who do depend on it for their income and will also help you to still be compensated fairly for your unique work. Here are some tips to help you figure out the best way for pricing crafts.
When you first start out in your unique craft niche, you should see what other people are pricing crafts at in the market you want to enter. See what pricing crafts is like for people in your geographic area as well, many times if you look online you’ll see that pricing crafts can be very different for a different part of the country. Pricing crafts according to where you live is key and if you live in a cheaper part of the country it could help you to make some online sales along the way. When pricing crafts, make sure to stay in the general range of the craft market. If your craft is a cut above the rest then feel free to try pricing crafts a little higher. You’ll see soon enough if you can command your price.
Step-By-Step Guide To Pricing Crafts
Here are some tips that can help at pricing crafts in a way that will give you a fair market price for your crafts and for your time. Follow these steps for pricing crafts the right way.
The Final Word On Pricing Crafts
Pricing crafts is one of the hardest parts of starting your own business. Don’t get discouraged if you can’t get want you want for your goods at the start. This doesn’t mean that you should be pricing crafts lower, just because you can’t get the price you want. For many people they view pricing crafts as a reflection of the quality of the good. You may actually turn off some people by lowering your price. Although it sounds strange, it is true: pricing crafts too low will drive away buyers! Just remember that people put value on an item by seeing the price tag. Use that bit of advice whenever you are pricing crafts.