Pricing can be one of the hardest things to get right for a handmade business. We pour our heart and soul into creating beautiful items yet we can struggle to price them to reflect their worth!
Here are 5 reasons why you need to get your prices right!
1. Just because you love what you do doesn't mean you can't charge for it! Many people love their jobs or their businesses but you wouldn't expect to pay them only a tiny amount for their skills!
2. You may have spent many hours researching and practising your skills. Sourcing out just the right materials to make your products yet still people do not take this into account when pricing their items. Imagine if a plumber comes to your home to fix something. You might have a rather large bill even if they have only been there a short time. You are not just buying the time he or she was there but the all the years of knowledge they have,
to be able to fix the problem! It's just the same with handmade!
3. If you price too cheap some people will thinks it's no good! They will question what the quality is like especially if they are buying online and they can't see it in real life or touch it to see the quality. A few years I nearly didn't buy something from a handmade business owner as it was so cheap I really did wonder what the quality was like. As I had been following this seller for a while, I brought it and the quality was lovely. I emailed the seller to encourage her to put up her prices!
4. People can't buy what you make on the High Street! What you make is unique to you! How amazing is it to give the gift of handmade knowing no one else is going to turn up to a party or event with the same thing as you!
5. If you don't value your own talents you are also effecting the whole creative and handmade craft industry! Have you ever been to a craft fair and seen something that takes hours to make only for it to be a really low price? My heart sinks when I see this as time is precious and even when we love what we do!