I’ve been working like crazy on some crocheted baby blankets and a few other items lately. Crocheting keeps my mind busy and the arthritis in my hands at bay. I can also make a little extra cash for the holidays and knock out a few gifts as well!
I came across a formula the other day for pricing my crocheted items to sell. Let’s just say I am still not a fan of any formula I have found thus far. This particular formula blew my mind.
Time + Materials = Cost
Cost x 2 = Wholesale Price
Wholesale Price x 2 = Retail Price
Holy cow. Let me use an example.
If I spend 2 hours on a “Messy Bun Hat” and I want to pay myself at least $8.00 an hour for my time, that’s $16.00. Let’s say my yarn for that hat costs me $5.00. That’s $21.00, right? Wholesale cost = $42.00 and Retail cost = $84.00. Wait, what???? $84 for a stupid hat? I would sell that hat to you for $20.00 plus shipping.
Of course, I’m not the only crocheter/crafter who thinks this way. It’s not that our time and work aren’t worth more, but we have to be realistic and we have to know our clientele. I know that I would never pay $84 for a crocheted hat, and I bet you wouldn’t either! It’s not because I don’t appreciate the time and skill that went into creating that hat, and it’s not because I don’t think the work is worth that much. It’s because I can’t afford to pay $84 for a stupid hat! I bet you can’t either!
Many crafters/crocheters bitch at those of us who sell our wares for less than they think we should. They say it makes them look bad, like price gougers. I don’t think that at all, just to be clear. I think perhaps they have a high-end clientele who would pay $84 for a crocheted hat. I do not. Simple as that.
So, if you purchase any crocheted item from me you are guaranteed to get a great price! If my price on a crocheted baby blanket is $80, you will most likely pay more it elsewhere.
Here’s my latest blanket, priced at $40 plus shipping. It’s about 30″ x 30″…and it has been sold!
You can check out my Crochet page for more — and I do need to add a few items so check back often!
I may have a contest later on with a crocheted prize! I’m open to contest ideas, so throw them at me!
Thanks for reading!
Your baby blanket is beautiful!
If you are happy that you are making enough money above the cost of supplies, then that is all that matters! 🙂
LikeLiked by 1 person