Mastering The Art Of Pricing: Tips For Setting Prices For Your Handmade Goods In Small Business

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HOW TO PRICE YOUR HANDMADE PRODUCTS FOR YOUR SMALL BUSINESS | HANDMADE PRODUCT PRICING
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00:00 Introduction
02:39 how to price products step by step
03:10 Step 1 : cover the costs
03:49 Step 2 : add the profit
04:32 Step 3 : add the markup
05:49 example + formula breakdown

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Опубликовано:

21 июл 2024

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Комментарии : 39

@SlayTheReneeWay 5 месяцев назад

Hey girl heyyy 💕 comment below if you’re still interested in part 3 about product pricing !

@blackcoffee2002 5 месяцев назад

Hello! I'm interested in part 3

@sarahmichel3398 5 месяцев назад

I’m interested! Thank you!

@KailaDiore 4 месяца назад

part 3 please 😊

@kaitlynconrad2266 4 месяца назад

Yes 🙌🏻❤

@ExquisiteKhaos 4 месяца назад

I'd definitely like to see a 3rd part to this

@michellekosachiner9821 2 месяца назад

Thank you so much for all the wonderful and much needed information. Looking forward to Part 3 video!!!

@SoeurOdysea 24 дня назад

Thank you for sharing!!

@teresawilson3823 4 месяца назад

Thank you for sharing ❤

@alicejohnson9080 2 месяца назад

Thank you for producing this video. I love this concept, so if you just wanted to markup 75%, you would take your base X .75= 2.76, add that to the base of 3.68 + 2.76 = 6.44 or 6.45, correct?

@kaitlynconrad2266 4 месяца назад

Thank you ❤

@seifkhalled9974 3 месяца назад

Your videos are awesome tank you❤

@Quincyvl 5 месяцев назад

Hey friend I’m so excited to watch

@SlayTheReneeWay 5 месяцев назад

Thanks for watching friend !

@abigaillee7685 5 месяцев назад

Hello great video. I need to see and hear this.

@user-bc2jo4xm4g 4 месяца назад

Where did you get the 0.55 for overhead expense?

@raeofsuhnshyne2728 4 месяца назад

How did you get the $312 per month

@user-ri8ji5cd3q 4 месяца назад

❤❤❤❤

@raeofsuhnshyne2728 5 месяцев назад

I am all the way invested. If say for example, I wanted to raise to 10% profit margin, how do I do that? Can you answer in part 3, please?

@SlayTheReneeWay 5 месяцев назад

I sure will! Thank you so much for watching ☺️

@simonsayzcreations9140 4 месяца назад

What would be considered overhead expenses? And how did you determine that it was $0.55?

@africansister 3 месяца назад

Packages, tape, paper, electricity...

@simonsayzcreations9140 3 месяца назад

@@africansister thank you

@letitslime1653 5 месяцев назад

Could you create an excel calculator for this??

@SlayTheReneeWay 5 месяцев назад

Absolutely ! I’m not very great at excel but if I figure that out I’ll be sure to link it 😌👏🏽

@letitslime1653 5 месяцев назад

@@SlayTheReneeWay I hear you! I'm still trying to figure out how to input formulas ha ha. But when you do, I know we'd be sooo grateful!

@blackcoffee2002 5 месяцев назад

@@SlayTheReneeWayyes PLEEEEEEEASE!

@nickisbeautybar 5 месяцев назад

I seen where they said the cost is also associated with the value

@SlayTheReneeWay 5 месяцев назад

Yes. It’s so many different wording and formulas out there, this is just the one I find to be easiest to follow. But yes, cost / value are essentially the same thing.

@letitslime1653 5 месяцев назад

Wait, how'd you get the $0.18?? 😅

@SlayTheReneeWay 5 месяцев назад

I decided the profit margin is going to be 5%. The revenue we earned was $3.68, multiply that by 5% you get $0.18. I hope that made sense lol

@SlayTheReneeWay 5 месяцев назад

So , most profit margins are between 5,10,20%. Decide that number , then multiply it by your revenue to get the profit you will earn per product . If the profit margin was 10%, my profit would’ve been $0.36 per scrunchie

@SlayTheReneeWay 5 месяцев назад

Great question by the way, I wasn’t very clear I see that now lol

@letitslime1653 5 месяцев назад

@@SlayTheReneeWay Ohhh ok! Thank you for this explanation. I really appreciate it!

@SlayTheReneeWay 5 месяцев назад

@letitslime1653 no problem!