Page 1 of 1
Priceing a product
Posted: Thu Jan 08, 2015 10:51 am
by gpeck
How can I go about putting a price on a product have carved on the shark, that may have taking a couple hours to carve?????
Re: Priceing a product
Posted: Thu Jan 08, 2015 6:54 pm
by tonydude
I just looked at the Vectric forum
http://forum.vectric.com/search.php?keywords=Pricing Check it out. It depends what your making where you live and what people are willing to pay for it. Price it too low and you will not make what the product is worth. Price too high people won't pay. Check out what other people charge, go to craft shows, etsy etc....
Tony
Re: Priceing a product
Posted: Fri Jan 09, 2015 9:56 pm
by skiles
gpeck wrote:How can I go about putting a price on a product have carved on the shark, that may have taking a couple hours to carve?????
I would suggest you charge $65-$75 per machine hour. I think you will find this to be an appropriate rate!
Re: Priceing a product
Posted: Sun Jan 11, 2015 9:55 pm
by milo30
Most business' who are in it full time charge by the hour. It's kind of hard to do that with the Shark in my opinion because it cuts much slower than machines used by others. It took trial and error over time to see what people would pay. You also have to consider material costs, mistakes, electricity, wear and tear, design time, etc. Every area will get different prices so it is hard to get a hard fast rule from anyone. Break down the cost of your material, sand paper, stain, finishing time, etc. to know a minimum that you can charge. Several things in the beginning, ended up costing me money to sell them.
I think it is best if you can make one or two items that get personalized and that you can do quickly is much more profitable than trying to make new items for each customer. Finding good source for materials such as off craigs list will payoff big time. I could make a plaque that took and hour to cut and an hour to finish, the wood alone would cost me $10 and sell it for $100. Considering all the small things like sandpaper and time, there wasn't much profit. I then found a supply of corian. I could make it larger and the corian would cost about $3, spray it with some paint, peel the protective mask off and touch it with a sander for about 30 seconds. I could sell it for the same price or even more and the profit was very good.