How to price beaded jewelry and tutorials to sell
So, you’ve just completed your latest beautiful materpiece. Now you want to sell it. But, do you know how to price beaded jewelry or tutorials – or anything else handmade? For example, did you know there is a simple formula you can use? How about knowing how to research to make sure your price is right? Well, if you don’t know about these things, keep reading…
How do you normally set your price?
For a lot of people deciding what price to charge for an item is basically a bit of a guess.
Maybe you take a look at what other people are charging. Or maybe you just pluck a random figure out of the air and hope for the best.
That’s all very well, but it can lead to two very common problems…
- your item doesn’t sell
- your items sells, but you’re actually missing out on income because your price is too low
Now, I’m not going to pretend that setting the right price is easy. Businesses of all sizes have struggled with this for years… And I should know because I used to work as a business consultant and found myself helping companies of all sizes with problems just like this.
So, how should you be setting your price?
How should you be setting your price?
On the face of it, the answer is actually very easy. We have a very simple formula that can be used to calculate the price you should be charging.
Want to know the formula? Then just follow this link and leave your details.
What that formula does is calculate the price that will cover all your costs and therefore reflects the fair value of the work you (or your business) put into creating the product.
So, yes, it will work for beaded jewelry. It will also work for beading tutorials. In fact, it will work for literally anything. So, even if you don’t sell beadwork in any form, but perhaps you sell other handmade items, this simple formula is all you need…
…or is it?
A more nuanced approach
When you first try and apply this formula, you’re going to discover that the price that magically comes out may not be what you expect.
You see, the formula on its own is very simple. But the difficulty in just applying it lies in the data behind it. Some of the numbers that go into the formula can be adjusted. I’m talking about things like how much money you pay yourself.
So, depending on those adjustments, your price can be made to fluctuate greatly.
All of which means, you need more than just the formula. You also need to understand how to set up the right numbers to put into it.
Again, fortunately, this isn’t hard to learn. So, if you want to find out more about that, I can teach you….but more on that in a moment.
Why isn’t my item selling?
You may know the formula, you may have understood how to correctly determine things like how much you pay yourself. So, in theory, your price is right.
But what happens when your item doesn’t sell?
Most people tend to immediately blame the price… “Oh, I must have just tried to charge too much.”
The fact is, ‘the right price’ doesn’t automatically lead to an item selling. There is a lot more to the selling process than just the price. So, yes, price is important. As I said above, if you over-price something it may not sell, if you under-price it, all you’re doing is losing out on income. But there is not always a direct cause and effect correlation between price and sales.
Factors like finding the right customer also affect whether or not your item will sell. These are too numerous to go into here in a single blog post. But if you’re really interested in earning a living, or even just some extra income, from selling items you make, you would be wise to learn about all these factors as well.
So, how do you do that?
Learn how to price beaded jewelry or tutorials to sell
I so often find myself being asked about pricing, that I thought it was about time I shared my knowledge properly with those of you who want to learn. In the past, I have written several blog posts about how to price beaded jewelry or tutorials that you want to sell (you can read them all here). But reading about the theory isn’t quite the same as being taught properly.
So, I am in the process of creating my own Pricing App.
What is that?
Well, basically, it will give you a spreadsheet that automatically applies the magic pricing formula to calculate your price. All you need to do is type in the figures you want to use to cost your item.
It will work for any handmade item, or any craft tutorial. The calculations are all done for you, and I have used my knowledge of the beading and craft industry to set that up.
In addition, you will get full tuition on HOW to use the right numbers. So, that will be teaching you things like how to work out what you should be charging for your time. Perhaps thinking about other costs that you need to cover when you sell things. And showing you how to allocate those costs correctly into your price.
(For example: if one of the costs you need to cover is the cost of hiring a stall at a craft fair, you don’t just plop that straight into the price of one necklace, you need to know how to split it across all your stock).
AND you will get to look at all those ‘other factors’ that I mentioned which can impact on whether or not your items actually sell.
How do you get hold of this Pricing App?
If that sounds like just what you need, then you probably want to find out more…
So, if you follow this link, you can leave your details and I will send you the following:
- more information about the App and what it does
- your FREE COPY of the pricing formula
So, that will help you to decide if this is really right for you. And even if you don’t want the app, you’ve still got the pricing formula to use on your own. What’s to lose?!
If you do decide to invest in the App, you will learn how to price beaded jewelry, tutorials, just about anything, with much more confidence!
Just for a bit of fun…test your pricing skills now!
You’ve heard a little bit about this App. So, how about you test your existing pricing skills? What would you expect to pay for it?
Think about what other Apps cost.
Think about this: what would be the potential value of all this information to you? How greatly could it change your life…?
So, what price would you charge if you were selling something that could do all of the above?