First of all I am hoping I put this in the right place. If not, can admin please advise me of where it needs to be?
So my question today is in relation to how to price my items to put in my Etsy store. I have had items in the store in the past (last year) which managed to get quite a few views, but never managed to sell anything. I am now starting up again, as I am soon going to be off work with a baby, so will have more crafting time, and really need to make some more room to make more crafts
I have read a lot of articles on pricing, and one of the things I seem to see in all of them is work out your supplies cost, your labor cost and then add what you would like your profit to be on top of that.
My question mainly relates to the supplies cost. I am often able to find materials at very good prices as I shop sales and discount stores. The problem is my supplies are never constant. Although I could make a bracelet now for approximately $2 in supplies, if I had to remake something similar and get the items straight away, the same piece could cost $5 to make.
Which should I base my prices on? And will basing prices on low stock costs make my items seem like they are too cheap to be quality?
Here are a couple of pics of some of the things I have been making, I would love to know what you would want to pay for them
Some of the items grouped together
Any advice would be appreciated