Pricing Conundrum

[Former_Member]

So I've finally expanded beyond my heating pads and started making ornaments/ mini plushes just because it's a nice change of pace and I can get super detailed.

I'm a little bit at a loss about pricing these guys. It takes a while for me to sew them as they are pretty intricate, but I don't want to scare away customers. What do you all think? Should I lower the prices a tad or do you think that they're alright?

https://www.etsy.com/listing/154090119/purple-daisy-sugar-skull-calavera?ref=shop_home_active

https://www.etsy.com/listing/153979405/blue-bonnet-yellow-daisy-matryoshka-doll?ref=shop_home_active

[Former_Member]

Charge whatever you need to cover expenses, labour and be HONEST about how many hours its taking you, materials and profit. Take into consideration that you might be doing wholesale orders in the future

[Former_Member]

look up what other people charge for similar items and consider what has been said above

[Former_Member]

I think the price is fair. If you don't sell any after a few months, try dropping it. But I'd say that's about right for a handmade item.

[Femailler]

My guess is that you're undercharging for how much work goes into it. Your price should AT LEAST be double of your hourly labor and materials, and should probably be quadruple. You need to cover your overhead and design time. You won't be able to simply work 8 hours a day on your craft, you will need to spend a good chunk of your time on the business side of everything as well. That's why you multiply your base hourly and material costs. :)

[Former_Member]

Great advice by all!

Alicia, I always have a hard time (as I sure many fellow sellers do) with keeping track of the time it takes me to do something as well as charging the right price given the effort.

Deborah, I likely am undercharging haha. Guess I'll have to make a few more and time myself and then work out hourly wage, etc.

Thanks everyone! :)