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Old 03-19-2015, 04:49 PM
 
52 posts, read 65,307 times
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Thanks for the input, everyone.

And thanks for the compliment, MountainBiking!
My mother in law taught me how to make them and she learned from her mother. So, in a sense, I guess it's a family tradition (:

My husband brought up that I may not have been clear about what they are. The yarn puppies aren't really designed for children as toys. They're more of a home decor item to display at home, office, dorm room, etc. Just because the wiring making up the frame would be unsafe for children.
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Old 03-19-2015, 09:09 PM
 
Location: Riverside Ca
20,992 posts, read 23,459,903 times
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You know i didn't see the 3-4 hr labor. At that point I would try for a higher end clientele to get the price up and market to that type of clientele. People love exclusivity and a lot of times are willing to pay for it. Especially if they can choose the color and design and have it made that way
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Old 03-20-2015, 07:29 PM
 
Location: All Over
4,004 posts, read 4,947,849 times
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I'm a young single guy so I'm not your target market but here's my thoughts.

As others have pointed out finding an item like yours can be like $1.99. Obviously yours is handmade and a craft so there's some value there. That said people aren't going to pay a hugely inflated amount for something like this.

I think $9.99 is on the high end of whats a fair value although I know people pay insane money for stuff at craft fairs and on etsy. Heck my folks live in South Carolina and people make these baskets on the side of the road that literally sell for like $400 for a little basket and as much as $50 for tiny little baskets that are like knick knacks. I could maybe see some people into crafts maybe and thats a bit maybe paying $15 but I think thats very high.

When you do crafts like this you really can't expect to make money, it's more a way of buying more yarn and funding your hobby. I sell some scarves for my gf's mother who knits but she's probably barely covering materials yet making anything for her time but for her its a way to support her hobby.
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Old 03-20-2015, 07:30 PM
 
Location: All Over
4,004 posts, read 4,947,849 times
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Quote:
Originally Posted by Electrician4you View Post
You know i didn't see the 3-4 hr labor. At that point I would try for a higher end clientele to get the price up and market to that type of clientele. People love exclusivity and a lot of times are willing to pay for it. Especially if they can choose the color and design and have it made that way
No offense to the OP but this is not an item for a high end clientelle its a cute little ball of yarn knick knack. Your never going to get more than $10 maybe $15 tops for it. there is no high end clientell for an item like this
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Old 03-21-2015, 08:43 AM
 
28,904 posts, read 48,436,681 times
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Quote:
Originally Posted by 1LTJoy View Post
I recently started a craft business and am getting ready for a few craft shows next month. But I feel the need to tweak my prices, based on response from Etsy.

Mind giving me some feedback on about how much you would charge for my crafts?

Pics are attached. They are yarn puppies about six inches or so in height and come in various colors to represent colleges, sports teams, sororities, etc. They take about 3.5 to 4 hours to make and the materials total to only $4.

As a business owner, how much would you charge?

And as a customer, how much would you be willing to pay?

I really want to set a price that is fair to the customers, but still make it worth my while (i.e. makes a profit).

TIA!
You need to set a price where your cost of production is roughly 35% of sale price. The problem is that your product might only be fetching $15, which means you are making $2.50-$3.00 an hour. Okay in Sri Lanka or Bangladesh, but not worth your time here.

So you have two choices: Either figure out a way to drive down your production costs and the time it takes to create or drive up the value of the article in question.
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Old 03-27-2015, 08:59 PM
 
Location: Los Angeles
2,918 posts, read 2,148,264 times
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$1.99 - $2.99. Looks like something grandma would give to a child as a gift.
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