Price of this quilt???
#22
Super Member
Join Date: Dec 2012
Posts: 1,857
this is the area that causes fits for anyone who creates handcrafted items. A VERY basic formula is - the cost of your product, the cost of 'things'(electricity, machine use, driving expenses,etc), and your time spent (it is up to you to figure what that is worth). Then you can start to add in the 'extras' - profit, friendship, purpose etc. Now, can the market take it at that cost? What is a reasonable mark-up for profit for your area. If you are sending it, don't forget to add in the cost of your packaging, shipping AND THE COST OF TIME TO PACKAGE AND SEND. This is the area most new business folks fail at. If you had to hire a clerk to wrap, seal, label and send it, you would need to pay them! Obviously, with quilts, you are doing one at a time. But, if you are making smaller items (mug rugs, placemats, purses), you can also use the formula of cost of all materials times 3. To get a feel for what you are putting into your project, keep a small tablet with your machine or cutting table. Note the time spent each time you sit down and any additional items you may use. You will be surprised how quickly the hours add up!
#23
Super Member
Join Date: Aug 2011
Location: kansas
Posts: 6,407
Good luck setting price. I find this very hard because so many factors--where you live/what your market will bear, cost of materials including wear/tear on your machine, electricity, etc and of course your labor. That being said few people want to pay enough to actually pay you more than a minimal wage. I've decided that I won't spend my time (away from my own projects) working for less than $10/hour and frankly want it to be closer to $15/hr. Thus I don't get many customers for t-shirt quilts or quilting--although I'm always busy!
Off the cuff, since its a "cheater" cloth and one of the borders is the fleece backing (did you use bat between fleece & top?) without bat, I would probably price at $35-45.
Off the cuff, since its a "cheater" cloth and one of the borders is the fleece backing (did you use bat between fleece & top?) without bat, I would probably price at $35-45.
#24
Senior Member
Join Date: Feb 2013
Location: Texas
Posts: 983
this is the area that causes fits for anyone who creates handcrafted items. A VERY basic formula is - the cost of your product, the cost of 'things'(electricity, machine use, driving expenses,etc), and your time spent (it is up to you to figure what that is worth). Then you can start to add in the 'extras' - profit, friendship, purpose etc. Now, can the market take it at that cost? What is a reasonable mark-up for profit for your area. If you are sending it, don't forget to add in the cost of your packaging, shipping AND THE COST OF TIME TO PACKAGE AND SEND. This is the area most new business folks fail at. If you had to hire a clerk to wrap, seal, label and send it, you would need to pay them! Obviously, with quilts, you are doing one at a time. But, if you are making smaller items (mug rugs, placemats, purses), you can also use the formula of cost of all materials times 3. To get a feel for what you are putting into your project, keep a small tablet with your machine or cutting table. Note the time spent each time you sit down and any additional items you may use. You will be surprised how quickly the hours add up!
Jeri
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