Handmade Crochet Product Pricing Tips 🧶

If you’re stumped on how to price your crocheted products then keep watching because today I’m giving you the five things you need to consider to keep your business profitable and making sales. Now crocheting, in terms of production, is a hard business to run. So it might take you two hours to make a baby hat. And even that is kind of fast. But if you're making something like a sweater we could be talking about dozens of hours to finish one product. Now, I have a standard pricing formula video, and with this standard formula, usually you take your time and your cost of materials and multiply it by 2 to get a wholesale price, and then multiply it again by 2 to get the retail price. This is multiplying your original cost by four or five times even, depending on what you sell, to get a final retail price. So, let's say you’ve set your hourly wage to $20 an hour. If we ran my standard pricing formula on a crocheted hat, and let's say it took $5 worth of yarn, my formula would say that you need to charge $125 retail price for that hat. But let’s be real, that’s probably not happening. I could be wrong, maybe you have amazing branding and that price point works for you, but for most of us that’s not realistic. And so this can lead to a bit of despair, right? Does that mean you're destined to work for less than minimum wage? Not exactly. If you can keep these five considerations in mind when pricing your products, then you can absolutely make your crochet business work. Let’s dive in! ____________ Enjoyed this video? ⭐ I teach a FREE workshop that deep dives on How To Create A Profitable Handmade Business Without Keeping Up With Social Media. Sign up here: 📌 https://bit.ly/3v1Qt13 ____________ 🎥 WATCH RELATED VIDEOS: 5 Common Product Photography Mistakes 📸 with Amy Eaton (Part 2/2)    • 5 Common Product Photography Mistakes 📸 wi...   5 Common Product Photography Mistakes 📸 with Amy Eaton (Part 1/2)    • 5 Common Product Photography Mistakes 📸 wi...   Subscribe for more videos like this: http://bit.ly/SubscribeCHC ____________ Join our FREE FACEBOOK group for getting the support you need in your handmade business. Ask the questions that keep you up at night, help each other out, celebrate good things and grow your creative business! 👉   / creativebizmarketing   ____________ CONNECT WITH ME: 🖥 Website: http://www.creativehiveco.com/ 📷 Instagram:   / creativehiveco   👤 Facebook:   / creativehiveco   ✉️ Business Inquiries: [email protected] #etsyshop #handmadebusiness #craftbusiness