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How do you determine the price to charge for wood crafts if you want to sell them at shows?
Deb
Wood crafts are a fickle project and there is no easy answer. To best help you will need to do two things. First is find out your material and physical costs. That means things like gas or electricity used to build the project. Then come up with a price based on this. That's the bottom line. Second thing is go price some other projects and vendor items that are compatible to yours. Armed with this information you can come up with a reasonable price to start things out. Then you can adjust the price to vary the sales. Simple supply and demand economics after that. I had a friend who does signs of peoples names out of wood and he goes to all the fairs. He started at 5 dollars a sign and the materials were only a buck or two depending on the paint and finish. What he ended up finding is that everyone wanted his stuff and he had to take orders and then work all night to get them done for the next day. So he adjusted his price up to 10 , even 25 dollars for some pieces. Yes this didn't allow as many to be sold but his intake doubled and he didn't have to work all night to get the items done. The reputation he had also went up so high he had to hire several guys to go around and do the work for him after awhile. Then he went to one show where he didn't sell anything for several days. Yep wood country. So he adjusted his price to just above cost and he came away at least making expenses.
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