The world of handmade is a sisterhood (brothers and others welcome, of course) so it’s everybody’s responsibility to ensure the market stays steady with fairly-priced products.
If you’re a weekend maker with a small customer base that you fear will desert you for charging a reasonable price, consider your fellow makers for a moment: those who’ve taken the brave leap into full-time making, trying to create a viable living through their handmade craft, but struggling to make ends meet because they’re having to compete with ‘mates rates’ and hobby prices. Then, when a new maker enters the market (or an existing one gains the confidence to charge a fair price for their work), they find themselves priced out of the market because customers have become too comfortable with the lower prices.Įven hobby makers need to be aware of the consequences of under-pricing. When too many makers in a particular niche under-price their products, buyers get a taste for cheap price tags. You simply won’t make enough cashola to grow your business and continue working for yourself doing something you love, and you won’t have enough money for marketing your handmade business. The Risks of Poor Pricing… Under-pricingĪs Mei from Creative Hive explains, when you under-price your products you’re actually doing more harm than good.
Putting a price on – and ultimately parting with – something you’ve poured your heart and soul into for countless hours can be a daunting prospect, but there are some simple measures you can take to ensure your products are well-priced and you are charging what you’re worth.īut first, let’s look at why pricing is so important to you, your customers and the handmade industry as a whole. For some makers, pricing handmade products is the least favourite part of the job a job that started off as a hobby… a craft experiment you stumbled across one rainy day on Pinterest that was refined over time until somebody eventually said, “Hey, have you ever thought about selling these?!”
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