Folksy Ltd

Prices! need advice please


(Hobbitgirlie1880) #1

Hi everyone
I would love to know what you think.
Iv had a few of my friends tell me that I should charge more for my items.
Personally I think they are ok. But iv had more than 5 of them say.it.to me.
So I’m now a little worried that my prices are too low.
I do find putting a price on items difficult as I bet most of you do but I am just abit worried now.

Please help by taking a look.
Thankyou.


(Eileens Craft Studio) #2

You have a bracelet and ear ring for £4.99 I would think after you’ve paid for the beads and bits to make it and your paypal fee’s and folksy fee’s you’d be selling it at a loss.

Have you sat down and worked out how much one of your items costs just in cost of the materials?
Have you added on paypal fee’s and folksy fee’s?
Have you added for your time?
Do you have a profit margin ?

These are the questions you need to consider when you work out what price an item will be.

Hope that helps


(Sue Beacham) #3

Hi

I looked into your shop, yes I agree that your prices are low, what you need to take into consideration the cost and time you put into your craft, you will want to make a profit, I certainly think a little more on the price for most of your lovely Jewellery in your shop is a good thing.

look into other shops and see what other folksy friends who sell Jewellery, look at their prices, this may help

I’m new to folksy my self, I hope I have been of some help

all the best
Sue


(Silvapagan) #4

I think a lot of people worry that if they price their items based on time and materials plus profit, that they would be too expensive for most others to buy. I know I couldn’t price my yarns like that, no one would pay £100 for 100g of yarn! But I think you should get as close to that formula as you can, because selling cheap not only devalues your own work, but also that of others in the same field, and handmade in general.

A dear friend once told me, price it fairly and someone will want it enough to pay the price you ask.


(Heidi Meier) #5

This article is good for assessing what your prices should be:

Hope that helps and good luck with your shop.

Heidi. :slight_smile:


(Hobbitgirlie1880) #6

Thankyou everyone. You were all helpful.
And I think I’ll have to sit down today and work afew things out.
As I’m starting to see what everyone is saying.

Think I’ll have a look on folksy too compare prices.
That link is brilliant too and very helpful.
Well I’ll be on later after iv done maths eek.

Thanks


(Susannah Ayre) #7

I would be careful to not compare too much. I think a lot of things are sold on folksy for way less than they should be.
I think it’s a lack of confidence for some people- they want to sell things but assume that people don’t want to pay much so end up short changing themselves.
I’m with everyone saying take into consideration all the materials, other selling costs that come into play, but also think about the time you’ve spent (which I agree is difficult).
But if people want it- they will pay. If people can see the work that’s been put in, they will understand the price you’re asking for- and I do think more and more people are becoming aware of this.

Personally speaking- I often wonder why things are so cheap sometimes- I assume (possibly wrongly) that the quality is poor. Same reason as I won’t buy the cheapest range in the supermarket- it’s the cheapest range for a reason.
Think about who your target market are and aim for them.
If I was buying handmade jewellery online I’d expect to may a little more- Quite often I’d be looking online for people’s birthdays/Christmases so would expect to pay that bit more for quality. If I wanted cheap fashion jewellery I’d probably just go into town to places like Primark/H&M.
You’ll be surprised though. I was really nervous about pricing my artwork initially. But I now sell online on a few different websites, in a B&M shop & the odd craft fair, and I sell artwork that ranges from £10 up to £120. But the price depends on the time I’ve spend, materials I’ve used and the difficulty involved.
It’s hard to work out I agree- but once you hit onto the right price a few times, it’ll all become a lot easier. :blush:


(Hobbitgirlie1880) #8

Thankyou for your advice. I think you are right saying people don’t go for the cheapest.

I have looked over all my items and think I have priced them better now.
What do you think?


(Hobbitgirlie1880) #9

It’s Crazy my views have gone up since putting my price up abit.


(Susannah Ayre) #10

Yeah. When I first started I offered free delivery to make it seem more appealing…didn’t sell anything until I changed it so customers were paying for delivery. I found that strange.
Not that I’m complaining as it increases my profit- although I often do still absorb some of the postage costs into my profit.
But there you go…all the best with it!! :blush:
When it comes to jewellery I’d just keep imagining who your customer is, & what they’d want to see price wise. :blush:


(Hobbitgirlie1880) #11

It is very strange.
Hopefully it will have helped. I’m now playing around with a photo editor to brighten up my photos.

Just wondering how did you get your pintrest account linked to folksy.


(Minerva) #12

I can’t advise what others should charge, but I will say something I always try to remember: You don’t charge what you can afford to pay. You charge based on the time, effort and money you have put into making your items. Also think about the message you want to send to buyers and viewers: I’m a serious business and I take pride in my work. Those who can afford to buy from you, they will :slight_smile:


(Eileens Craft Studio) #13

Set up your pinterst account first.

Then every item in your shop has a little pin button next to it. Just click on that and away you go :smile:


(Denise Hayes) #14

I think you need more info in your descriptions – one sentence wont’ really give much info at all. Type of beads, their size, how they’ve been attached to whatever, the actual size of the finished piece, etc. needs to be added. I looked at the blue butterfly child’s bracelet. For £2, I wouldn’t bother, I’d just go to Primark.

You have to describe your items well as no one can pick them up and touch them, see for themselves.


(Hobbitgirlie1880) #15

Thankyou I was thinking my descriptions arent brilliant.
Iv been looking at other peoples and they go in much more depth than I do.

I’ll be changing them over the next few days and doing better pics ect.
I’m going to change some things iv listed too.

Think it’s all about finding the right balance at the moment and I appreciate all the advice and comments cos you don’t know if something needs sorting if your not told about.
Cheer’s


(Hobbitgirlie1880) #16

That’s brilliant thanks.
I’ll give it a go once iv sorted afew of my items.
Not quite happy with what iv done to my listings.


(Jessies Needle) #17

What an enlightening article. Will make me look at my prices again. Thank you