🚨NEW FREE WORKSHOP FOR 2022🚨 Learn how to create a PROFITABLE handmade business online without keeping up with social media 🔽 Watch the free workshop here: bit.ly/3Lgi3xn
@jaelvb
Жыл бұрын
What if I have ₱120 cost and I want to have ₱50 labor price?
@mariama1157
4 жыл бұрын
Ok. I’m now officially binge watching your channel😂. Thank you so much I’m really writing all of those down.
@CreativeHiveCo
4 жыл бұрын
😂 I'm glad you're finding it so helpful, Mariam! If you subscribe, you'll get notified when I post new videos, too. I really appreciate you watching!
@thishappycrafter272
4 жыл бұрын
Ha! I was just going to write the same thing! Lots of binge-worthy content!!
@kiamurray6915
4 жыл бұрын
Me TOO!!! 😜😜😜 EXCELLENT CONTENT!!
@pjbg927
4 жыл бұрын
@@CreativeHiveCo qsusi jn
@Joliv0
2 жыл бұрын
Yep, same
@organicallyolivia8979
3 жыл бұрын
Needed to hear this! I have been pricing as little as possible so more of my customers become regulars and buy more volume. Knowing this formula will make me feel more confident raising my prices :)
@CreativeHiveCo
3 жыл бұрын
Yes, absolutely! You definitely need to charge your worth, and you will find the right customers for your products.
@BrownEyzL
4 жыл бұрын
That "NO" in the background was funny. Lots of great info! Thank you so much!!
@CreativeHiveCo
4 жыл бұрын
Thank you so much for watching it, LaShawna! 💖
@BrownEyzL
4 жыл бұрын
@@CreativeHiveCo You are welcome! Great information and tools for my new jewelry business! Love your videos!!🧡
@cbpapp
3 жыл бұрын
I began watching your videos and I’m learning SO much! My product is handcrafted also. I have been learning through trial and error and have been gifting my products to date. I receive fantastic feedback and many people ask if they can purchase my products, but I am not set up quite yet. I’ve been honing my craft since September 2019. I believe I have a product which is “outside the box” and believe there is a customer base for my type of creativity. I have NOT launched my business yet. However, after watching your video comparing Etsy to Shopify, I’ve decided to start with Instagram and Shopify. Initially, I was going to use the formula of multiplying my cost by 15%. However, your formula takes my time into consideration and I believe it’s necessary when you’re creating with your hands and heart! My product does require creativity, searching for the perfect elements for each “concept,” purchasing all the elements, tracking my cost, my time making my product......you know all this! I wanted to thank you for all the enormously helpful education you are sharing. Even though we are in different businesses, business advice from an experienced handcrafted product maker is worth its’ weight in gold. I am so delighted I found you and look forward to learning more! THANK YOU, Mei! Have a wonderful day!
@CreativeHiveCo
3 жыл бұрын
I'm glad that my videos have been helpful to you. Definitely don't underprice your products - that does a disservice to both you and other makers in your field.
@JasonGreenslopes
4 жыл бұрын
Thank you for your advice! I just increased my ETSY best selling product by 20%. So, hopefully, the sales keep coming!
@CreativeHiveCo
4 жыл бұрын
FANTASTIC, Jason!
@susanmiller8261
Жыл бұрын
Good job! You work hard creating and if you're not getting paid for your work you're going to end back to 9-5
@christina6767
3 жыл бұрын
Thank you for making this! I’m a new business owner and it is tough running a business. I get super discouraged because people always want free or discounted stuff. Yet I see them go an purchase from a bigger brand who chargers two times what I charge. But I’m rebranding and improving my product plus getting a website so I’m going to raise my products and hopefully I get the right people to purchase my products🙌🏽
@CreativeHiveCo
3 жыл бұрын
You got this, Christina! You are doing the best things you can to advance your business! Stay strong in your pricing and don't feel that you need to work with people who don't appreciate your work. Not every collaboration will be a good one. This video will help you find your target audience, which will be YOUR people: bit.ly/2VsuoYb
@DesmitskesUnplugged
Жыл бұрын
So basically, a pair of knitted socks should cost 800€...
@tracy-eire
Ай бұрын
Hm. How is your business going?
@IvoryS2012
20 күн бұрын
No, 850 😅😂
@yani2473
3 жыл бұрын
I'm so glad I found this channel. Great content! This is exactly what I needed for my stationery shop.
@CreativeHiveCo
3 жыл бұрын
I'm so happy to hear that! Thank you for watching, Diane!
@varen6290
4 жыл бұрын
I'm so grateful that I've found your channel! Your info is amazing and really has me thinking! I can't wait to use this new information 😊
@CreativeHiveCo
4 жыл бұрын
I'm so happy to hear that, LeeAnn! Thank you for watching!
@MissPolinesian
3 жыл бұрын
OMG you're an answer of my pray... 😭 Thank you for sharing this ❤️
@CreativeHiveCo
3 жыл бұрын
Aww, I'm happy to hear it helped! Thank you so much for watching, Stella!
@RuthAnnNordin
4 жыл бұрын
Don't forget taxes. Those will take a good portion from the profits for any self-employed person. I love your videos. :)
@CreativeHiveCo
4 жыл бұрын
A really good tip, Ruth! Thank you for watching!
@Blueowl896
2 жыл бұрын
Superb. I am so Blesses to have found you. 💃🌹
@CreativeHiveCo
2 жыл бұрын
Aww.. Thank you so much Tessa!! ❤️ This really made my day!! ❤️
@eternalblissed
3 жыл бұрын
Man it felt so good to get validated what I suspected all along! 🤣😅 I am overwhelmed with orders and truly feel I am not charging enough for my work. Thanks for this great video! Im gonna adjust my prices 🙌
@CreativeHiveCo
3 жыл бұрын
That's awesome, and I am so happy to hear that you are going to make a change! You're going to be so happy to be making more per piece.
@annagaluszka26
4 жыл бұрын
Lovely video. This is exactly more less how I planned my pricing. 😍
@CreativeHiveCo
4 жыл бұрын
That's great! It's nice to know you are on the right track.
@alicjaczaja9865
3 жыл бұрын
What a wonderful girl, I am binge watching your videos, your knowledge and the way you explain things are amazing. I feel that you genuinely want to share and help people and you want everyone to be successful. Wonderful, wise, professional. 😍😍😍
@CreativeHiveCo
3 жыл бұрын
Awww, thank you, Alicja! That is so nice of you to say - I appreciate it so much.
@blancagrosjean443
4 жыл бұрын
Great information! Thank you so much for sharing. This has been very helpful. 👍🏼
@CreativeHiveCo
4 жыл бұрын
I'm so happy to hear that! Thank you so much for watching, Blanca!
@marvelpovs2412
2 жыл бұрын
I know this and make earrings. But I can’t justify selling a single pair for $30+
@CreativeHiveCo
2 жыл бұрын
If you're a bit worried that your price is too high, you can try looking for suppliers that can offer your raw materials at a lower price or try to streamline your process to cut down on your production time. I think $30+ for a pair of high quality lovely handmade earrings is totally okay and with proper marketing (to the right audience), it's not impossible to sell them. If you're interested, you can watch my free workshop for some helpful tips and ways on how you can market your products effectively. Here's the link to register: www.creativehiveco.com/profit/? Good luck! ❤️❤️
@msprettyeve
3 жыл бұрын
Thank you so much,now I learned how pricing goes :)
@CreativeHiveCo
3 жыл бұрын
So glad I could help! Thank you so much for watching!
@jillybeanz1670
3 жыл бұрын
Im releasing a small batch slow fashion line, everything is honemade all by me and i want to be size inclusive and made to order, right now my small accessories only cost up to $25 and I'm nervous about charging more for garmets
@CreativeHiveCo
3 жыл бұрын
You are going to have to, Jilly! If everything is going to be handmade by you, you are going to have to account for all that time. When you look at some of the more popular slow fashion brands, look at their prices. They are not short-changing themselves and neither should you! 💖
@rechelleestorba6354
4 жыл бұрын
Thank you for this.. always informative! ♡
@CreativeHiveCo
4 жыл бұрын
Thank you so much for watching!
@davidspann2847
2 ай бұрын
Everytime i sell products this customer wants me to lower my prices and give less every time
@CreativeHiveCo
2 ай бұрын
When you've got customers always trying to haggle for discounts or more for less, it can be tricky. You've got to set clear pricing policies that show the value of your products and the effort you put into making them. It helps to stick to your guns and explain why your prices are fair.
@gabeadz1
4 жыл бұрын
I have a question, on the material cost, do we need to add listing fees, credit card fees, etc? Thanks, Gaby from Gabeadz
@CreativeHiveCo
4 жыл бұрын
Hi Gaby, you can add those fees into your pricing for sure.
@gabeadz1
4 жыл бұрын
@@CreativeHiveCo Thank you for your reply. So, those fees should be added after I get my retail price?
@CreativeHiveCo
4 жыл бұрын
Yes, because those fees may not be applicable in all situations. Add them in after your base retail price based on the selling situation.
@gabeadz1
4 жыл бұрын
@@CreativeHiveCo thank you again for your time and help, really appreciate it. 🤗😘
@ashmitachetri8810
Жыл бұрын
Learned alot🙏
@CreativeHiveCo
Жыл бұрын
That's awesome!! I'm so happy to hear that!! ❤️
@shesoshortie
3 жыл бұрын
Hi! This was what I needed to see. I am currently building up my handmade polymer clay earring inventory for a local business opportunity that has come my way. I will be selling on consignment and am struggling with pricing. This video is helpful.
@CreativeHiveCo
3 жыл бұрын
I'm really happy that this has helped you, Julie! That is so important to me!
@joeljimenez8560
2 жыл бұрын
Great video.
@CreativeHiveCo
2 жыл бұрын
Thank you so much Joel!! ❤️❤️
@alisaburavytska9122
4 жыл бұрын
Thanks for the tips, you are so easy to follow and understand! Do you have any videos on how to calculate income and profit?
@CreativeHiveCo
4 жыл бұрын
You can check this one out! kzitem.info/news/bejne/qWmon4FpipqfgYY
@alisaburavytska9122
4 жыл бұрын
@@CreativeHiveCo Thank you!)
@ZivaHadar
3 жыл бұрын
Super helpful!!! Thank you so much!!!
@CreativeHiveCo
3 жыл бұрын
I'm so glad to hear that! Thank you for watching!
@rosewaterz7959
3 жыл бұрын
Thank u. This was very informative
@CreativeHiveCo
3 жыл бұрын
I'm so glad to hear that! Thank you so much for watching!
@abella9399
3 жыл бұрын
Hi! Im starting to make clothes to fund my cat (lol) and also somethings needed in my house, what if I only make one clothing (so basically its one of a kind) would that affect my pricing? Plus I take the time to press and also finish the seam with bias tape (cause i want that person to feel that clothing was made for them) Edit: I hope this gets to you! Have a great day!!
@CreativeHiveCo
3 жыл бұрын
Hi Danica! You can definitely make custom clothing if that's what you want to do. That can be a time-consuming process, though, so make sure that you are pricing appropriately.
@bonboni9739
4 жыл бұрын
Dear Mei, what % of money do you recommend to take from profit for investing back in business? Thank you in advance 😊
@CreativeHiveCo
4 жыл бұрын
Hi Bon Boni! It's different for everyone and how quickly you want to grow vs how much money you need to pay for your living expenses. I used to do 30% invested back into the business. But some businesses don't need to grow, they're just in maintenance mode so you can lower that to 0-10% so you're profiting more from the business.
@Mallinity
4 жыл бұрын
I'm still considering whether to sell my stuff or not and before I started watching your videos all I was thinking of was an Etsy shop! I now see that this would be a bad way to spend my time, sure, have an Etsy shop, but focus on the brand and PR. Hmm... I just need to figure that brand out first... 😅 These are such clear and helpful videos. I especially appreciate your honesty about your own trials and errors. Thanks again Mei! May you and your businesses continue to thrive!
@CreativeHiveCo
4 жыл бұрын
Thank you so much, Jem! If you would like to have some guidance along the way as you decide where to shop and develop your brand, I have lots of resources on my website! creativehiveco.com
@acrafterscanvas9408
4 жыл бұрын
Hello Mae. I do not know how I lost my subscription but I have not been getting your feels. So, I re-subscribed, hit the bell and a thumbs up. This again was just what I needed in my new business. By the way. This will be my third time trying to do this on my own. I think this time, however; I believe I can make this work in my favor. Thank you, Mae.
@CreativeHiveCo
4 жыл бұрын
Thank you for watching, Crafters! You can definitely do this! I've got lots of resources for you, and if you would like some added support you can join my Facebook group: facebook.com/groups/creativebizmarketing/
@kathiejohns1418
3 жыл бұрын
This pricing high/low I tried both ways & now it is almost a year since I opened my Etsy shop & only had one sale!Lots of visitors but no sales!What is wrong?
@CreativeHiveCo
3 жыл бұрын
Without seeing your shop it's hard to say! It might not be pricing but something like SEO.
@patrickkhoza8472
3 жыл бұрын
Thank you sister we need people like you
@CreativeHiveCo
3 жыл бұрын
Thank you, Patrick! I appreciate that!
@TheNumbaOneMiss
3 жыл бұрын
I am so discouraged. I have an eBay handmade earring business and I am hardly making sales. I make maybe one sale per month. I've raised prices, I've lowered prices, I've bundled, I have free shipping, and I also lowered prices and charged shipping. I am at a loss. I have all of this inventory and it's not moving the way I'd like. 🤷♀️
@CreativeHiveCo
3 жыл бұрын
You need to get off eBay. eBay is not the best place for handmade sales. People shopping on eBay are looking for deals or looking for something rare or hard to find in stores. They aren't going to appreciate handmade pieces on that site.
@AlessandraNicole
3 жыл бұрын
I badly needed this. I'm happy KZitem made the way for me to watch this vid!!! It helped me so much! I've been selling hand-painted tote bags and wallets for a year now but I think I price badly. :(( Thank you! 🧡
@CreativeHiveCo
3 жыл бұрын
I'm so happy to hear that this was helpful for you, Alessandra! Thank you so much for watching.
@jena4109
4 жыл бұрын
Thank you, but I live with people whom they dont want to pay fair, they compare my price with my competitors, & they dont realize the difference in the quality even after I explain to them. Specially for beginners like me, its hard to convince people to pay fair, so I charge people less than what I deserve to market my brand first, with a small margin of profit, which allow me to continue.
@CreativeHiveCo
4 жыл бұрын
I understand this, and it's a hard one to get over, but you absolutely have to price accordingly for your products. You do not need the opinion of friends and family on this one - they can be the worst when it comes to pricing because they don't understand your business and they are not your target market. Please don't underprice yourself based on those people.
@aquafina6544
4 жыл бұрын
I think that's way to high. If prices are to high you wont get many customers. If you have brick an mortar I can see 120.00 for a 30 or less item.
@CreativeHiveCo
4 жыл бұрын
Pricing can be tricky, aqua fina, but there are definitely customers for those higher price points!
@aquafina6544
4 жыл бұрын
@@CreativeHiveCo , you're right. I just know that I live in an area where majority of ppl aren't in the upper class or 1% financial bracket and I would feel very uncomfortable charging $120 for something that took me less than 30min to make and cost less than $15 to make. For that price it better not tarnish or deteriorate.
@jeimy5207
3 жыл бұрын
Thank you for your amazing videos! I completely understand your formula, but I am not sure if I can price by 4 or even by 2 😞. I'm am a complete noob on handmade business. I haven't even sold anything yet. I'm actually super lost 😓.
@CreativeHiveCo
3 жыл бұрын
Not only can you, Jeimy, you should! If you are pricing too low then you aren't giving your customers confidence in the quality of the item, and you are also esentially working for free.
@roxanne117
3 жыл бұрын
I learned a lot from your videos☺️ thank you so much,,, i am planning to start my art business.. your videos are really educational
@CreativeHiveCo
3 жыл бұрын
I'm so glad to hear that, Roxanne! Thank you so much for watching!
@jessicaroy6305
3 жыл бұрын
OMG your art rack in the back?? Where did you get it?
@CreativeHiveCo
3 жыл бұрын
Hi Jessica! Oh gosh this is from so long ago! I know there are a few similar ones on Amazon and the Container store!
@monarnyc
Жыл бұрын
New subscriber and Thank You for this
@CreativeHiveCo
Жыл бұрын
Thank you so much for subscribing, Mona! Welcome to the Creative Hive community!! ❤️
@Galeano613
10 ай бұрын
What the 4 comes from? 🤔
@CreativeHiveCo
8 ай бұрын
Hi Deborah! Sorry for the late response. Pricing your products cheaper doesn't always mean more sales if you're not attracting the right customers. Know who your brand's target audience is and price and present your products accordingly. Don't be afraid to increase your prices! The last thing you want is to lose money/profit by lowering your prices just to appeal to everyone. Your products are worth it!
@MoschPom
4 ай бұрын
I spend $200 on making my product so if I multiply that by 2 its 400 and if I multiply that by 2 again its 800. How can I sell my 0.5 oz hygiene product for $800 (plus have the customers pay for shipping) thats crazy…. Help?
@CreativeHiveCo
4 ай бұрын
You might want to explore different pricing strategies, such as value-based pricing or bundling options, to enhance the perceived value of your product. Also, offering exceptional customer service and building a strong brand can justify higher prices. 😊
@mfayant
2 ай бұрын
Hi Mei. I actually have a product ready to go to market, but most of the time I will be the Middleman. My product is made in China. I am still waiting for final manufacturer costs for my product from China. I will set and example; My product in China cost $1 to make, once my product arrives, I want to sell it to a retailer for 10$ so I can make an decent profit, how much would a retailer charge to the customer? I am doing cold calling, and am offering a portfolio with my product, should include my assumed cost, and the retailers supposed retail price?
@CreativeHiveCo
2 ай бұрын
Hi there! You can check out my pricing guide here: www.creativehiveco.com/pricing-handmade-items-guide/
@monique9134
3 жыл бұрын
Don't forget the packaging and shipping.. I'm using bubble envelope, jewelry box, sticker, thank you card, my packaging is 2$ plus Im thinking about offer free shipping so I calculate it in the price too which is 4$, so 2+4=6 dollar extra for the packaging and shipping.. 😊
@CreativeHiveCo
3 жыл бұрын
This is a good point! If you are offering free shipping then this should be factored into your price after you calculate you time and materials, though - this shouldn't be multiplied into your original calculations.
@witchazulystore8486
4 жыл бұрын
You are amazing! Thank you for all this incredible information!
@CreativeHiveCo
4 жыл бұрын
Thank you so much for watching!!
@fionar1656
7 ай бұрын
I'm really loving your good helpful advice thank you. I make good quality beaded jewellery. I have been making jewellery for awhile & due to health etc I had a long break. Now I'm back at it ready to relaunch my jewellery business. I'm looking for a new website that I can afford & getting ready to try putting it in shops with consignment. So I was just pricing a necklace I've made & I do have a formula but I thought I would try yours. Well your formula makes this necklace $476 retail I can't imagine it selling at that price & I can't imagine a shop willing to sell it if my retail price is that high because they'll say it's to high to mark up the price. I also tried your other suggestion in lowering my hourly wage & that made the necklace retail at $356 so still extremely expensive & I don't think it will sell at that price. I'm in Australia.
@CreativeHiveCo
6 ай бұрын
Hi! I'd love to see how you used the Pricing Calculator for your products. Could you please send me a screenshot via email? It would also help if you can include how much your competitors usually price their necklaces with similar materials and designs. Email is mei@creativehiveco.com. Thanks!
@maharlikabebz2249
3 ай бұрын
Hi Mei!! Going back to your videos again 😊 im not sure if i asked before but.... what if im a first timer to sell? Whats the healthy pricing? And if we charge lower how soon can we raise price??
@CreativeHiveCo
3 ай бұрын
You might want to checkout Creative Hive's Pricing Calculator here: www.creativehiveco.com/pricing-handmade-items-guide/
@paulieabeles2149
4 ай бұрын
Cost x Time? But what are you charging per hour for your time? That’s kind of critical to know. It looks like my topiaries and wreaths should cost $600 by this metric.
@CreativeHiveCo
4 ай бұрын
Hi there! You can check out my Pricing Guide here: www.creativehiveco.com/pricing-handmade-items-guide/
@RameenCh-x9l
Ай бұрын
Nooo ur profit shouldn’t be more than 100% of the cost and labour combined. It’s cruel to the people buying products.
@CreativeHiveCo
Ай бұрын
I appreciate your perspective! Pricing can be a tricky balance, but it's important to consider all factors, including materials, labor, overhead, and the value of the craft. Fair pricing ensures sustainability for both the maker and the buyer. Everyone's approach might be different, and it's crucial to find a balance that works for both sides. Thanks for sharing your thoughts!
@sakura851
3 жыл бұрын
I make paper origami boxes I did the formula I am making medium sized boxes would people really spend 46.40 for one box I am just wondering
@CreativeHiveCo
3 жыл бұрын
You would have to research your market and target audience to see if this is viable.
@MoschPom
4 ай бұрын
Minimum wage in California is $18 an hour. Say it takes me 30 mins to make my product. How much would the labor charge be then?
@CreativeHiveCo
4 ай бұрын
If you're basing it from the $18/hr rate, the labor component alone would be $9.
@lynnodonnell4764
Жыл бұрын
I can't do this. I'm handicapped in ways that impede working quickly. I cannot ethically charge people for 'time'.
@CreativeHiveCo
Жыл бұрын
Hi Lynno! It's okay to lower your price a bit (from your "goal" price) in the beginning while you're still building your audience and gradually increase your price until you meet your "goal" price. If you need a guide on how to price your handmade products, you can check out my video here: kzitem.info/news/bejne/qWmon4FpipqfgYY If you want to download a free copy of my Online Pricing Calculator, you can check it out here: www.creativehiveco.com/pricing-handmade-items-guide/ Please let me know if you have any further questions! 😊
@Pinkacademias
7 ай бұрын
I have a question: as a non-professional knitter,sewer and crocheter who is starting a business I tailor to younger audiences and I’m not sure how to price my products! I’m still young and don’t need to live off my business and my audience isn’t rich either. Should I still price my products so high, considering my experience and audience?
@CreativeHiveCo
7 ай бұрын
Consider factors like material costs, time invested, and a fair margin for profit. Also, don't forget to factor in your skill level and the uniqueness of your handmade creations. Finding that sweet spot where you're fairly compensated while still appealing to your audience is key. You can also checkout my pricing guide here: www.creativehiveco.com/pricing-handmade-items-guide/
@summerstenson9258
3 жыл бұрын
Now I get it... thank you ! Until Doing your strategies for pricing and I got $140 for 4 coasters. Definitely a little confused now 😩
@CreativeHiveCo
3 жыл бұрын
Are you figuring out your materials and time for one coaster, or one set, or something different?
@JayJay-g9s
9 ай бұрын
Thanks for this. When you say raise the markup from overwhelming orders, how do we find the appropriate number to raise the markup by? Do we change the first or second markup?
@CreativeHiveCo
9 ай бұрын
It depends on your pricing structure. If you have a two-tiered system where the first markup covers costs and the second is for profit, consider adjusting the second markup first. However, a holistic approach might involve tweaking both markups proportionally.
@jalesaarmen4290
2 жыл бұрын
are shipping/packaging included in the materials?
@CreativeHiveCo
2 жыл бұрын
Hi Jalesa! Packaging materials should be added into your shipping costs and not your materials cost. Hope that helps! 😊
@christinejoyce3113
9 ай бұрын
How do you find the people that will buy them?, I have people offering me £5 for something that cost me £15 to make, when i say no they lose interest quickly.
@CreativeHiveCo
9 ай бұрын
Great question! Branding really helps in attracting the right people who are willing to pay for a higher price. Changing my branding for my Tiny Hands food jewelry helped attract the right customers :)
@alibarnes1136
9 ай бұрын
Do you include the jewelry packaging in with material costs?
@CreativeHiveCo
9 ай бұрын
Yes! Factoring it into material costs can provide a clearer picture of your production expenses. :)
@momodoro7163
4 жыл бұрын
Thank you for sharing all this information and awareness!!! Is super useful
@CreativeHiveCo
4 жыл бұрын
I'm so glad it was helpful, MoMo Doro! Thank you for watching!
@karlarocha5286
3 жыл бұрын
I love your videos, I’ve been learning a lot with you! Thank you so much ;)
@CreativeHiveCo
3 жыл бұрын
I'm so glad to hear that, Karla! I really appreciate you saying that. 😊
@lightbe23
Жыл бұрын
Thank you , the video was profitable for me, I love the relativity in your ideas, Its very insightful
@CreativeHiveCo
Жыл бұрын
Thank you so much! I'm so happy you loved it!! ❤️❤️
@DD-mr2tk
3 жыл бұрын
Hi Mei, I have been watching your art pricing videos so few hours and learning along. I'm planning to sell my doodle art and was researching on pricing. I'm really intrigued how your pricing makes sense and should consider it. Not going to lie; my artwork would cost more than £100. Also i really like @0:14 so cute :) Goo day Mei
@CreativeHiveCo
3 жыл бұрын
If that is the real price of your work then that's what it is and you will find customers that will pay for that work. You can also then sell digital prints of your original artwork for a lower price if you choose to.
@DD-mr2tk
3 жыл бұрын
@@CreativeHiveCo Hi Mei; I’m planning to sell only framed original art print. I have printed two of them just to see colour corrections and managed to find the right choice. I have ordered 1 frame to see how it looks on the actual art. Also today; I managed to speak to art print gallery to show me frame on video call but I didn’t like it since I found a bit out of my budget to be honest. So my plan is to see one that ordered from online and also get one from art print gallery; try both of them to see which one suits. This way I ll know I’m selling my artwork at its optimum quality production. If I use the cheap frame (not that cheap it’s £15) from online my all cost will be around £50. But if I use the frame from art gallery it will be around £70. So I have now either £100 or £140 as selling price. These are the giclee prints so very durable both ink and paper. From the fine art gallery I have been suggested to sell between £75 - £125. Depending on which frame I use; selling price will be decided. My plan is to start selling at the end of February.
@ambroseklk3744
8 күн бұрын
I draw portraits and botth customising such as motocycle helmets, vehicles and phone cases watch and more how do I sell them and actually make money
@CreativeHiveCo
17 сағат бұрын
If you're looking to sell them online, you may consider selling them on any e-commerce platform like Etsy or via your own website using Shopify
@aaronramsden1657
2 жыл бұрын
This comment is to show appreciation for your hard earned knowledge
@CreativeHiveCo
2 жыл бұрын
Thank you so much Aaron!! I really appreciate it! ❤️
@katherinemnusa
Жыл бұрын
I need this information…..ThankYou❣️
@CreativeHiveCo
Жыл бұрын
Thank you so much for watching, Katherine!! ❤️
@starktrish
4 жыл бұрын
Great information. I'm confused about one thing. You mentioned that the second time you get paid is as the business owner. However, my understanding is that the entire amount isn't profit because the costs of running your business come out of that first and then the rest is profit. Am I understanding this correctly? So if I lower my hourly pay, it also lowers the amount of money available to put back into my business. Yes? Please help 😁 and thank you.
@CreativeHiveCo
4 жыл бұрын
In a way, yes, but this thinking is to help your items sell. If they are priced too high and you don't have any sales, you are cutting profits entirely. Also think about the fact that if you were to hire that job out to someone, what would you pay them hourly for that work? That hourly rate wouldn't be going back into your pocket so you may want it to be slightly lower.
@starktrish
4 жыл бұрын
@@CreativeHiveCo thank you for always replying. You're the best!
@kevinwarner959
2 жыл бұрын
I see that you have included material cost and labour in your pricing calculation, but left out overhead, like electricity etc.
@CreativeHiveCo
2 жыл бұрын
You can add those in to the supply costs, dividing by how many products you make per day or how many hours you work, etc. (a good guess or average is fine).
@kaylaturner1391
11 ай бұрын
This video was amazing!!! New subscriber here!
@CreativeHiveCo
11 ай бұрын
Thank you so much for subscribing, Kayla! Welcome to the Hive! ❤️
@bmuir11207
3 жыл бұрын
I’m feeling so discharged on pricing. I’m trying to start up a small crochet business and before I multiply my cost+materials by 2 ( I know the rule is 4) she makes comments like “no one is going to pay $5 for that little thing.” I stress out every time I have to pride something.
@CreativeHiveCo
3 жыл бұрын
I'm so sorry that someone isn't supportive of your efforts. But this is the way to price, and the correct price will bring your correct customer. Also, I always say, if the person giving you "advice" isn't in business themselves, then you 100% disregard it.
@bacruz90
Жыл бұрын
Hello. Do you have a video on how to determine material costs? Like generally what to include
@CreativeHiveCo
Жыл бұрын
Hi Brenda! My pricing formula here could be helpful for you: kzitem.info/news/bejne/qWmon4FpipqfgYY You can also download a free copy of my Online Pricing Calculator here: www.creativehiveco.com/pricing-handmade-items-guide/ Let me know if you have any questions. 😊
@skym821
3 жыл бұрын
Man my polymer clay jewelry is going to be $$$ 😂😂😂
@CreativeHiveCo
3 жыл бұрын
So that might be a good time to see if you can find clay or findings at a better price, work on techniques to get more product made in less time, or to consider lowering your rate so you can increase your profits.
@MarvelousGenki
4 жыл бұрын
I don't get the prices other etsy sellers make. I was already 20% above your "4 times rule" and I'm still like half the price of others. And my prices feel like fair for the product. Something I would pay for. And never for that crazy high prices. So my question is: Am I ruining the market or are the others just greedy high?
@CreativeHiveCo
4 жыл бұрын
How are your sales? Are you selling a lot of your product really quickly? If you are, you may be underpricing and people know a deal when they see it. Or are you not selling much? If not, you may not be pricing yourself well and customers may think that your items are not as quality as the higher priced ones. If you are that much below other makers, though, and they are selling, I'd say you are underpriced.
@MarvelousGenki
4 жыл бұрын
@@CreativeHiveCo Thank you for responding! I'm mid stage 2 with nothing else than fancy cookie cutters, in my first year. So yeah. My sales are ok for a start. About 2 sales per day average. And my customers buy whole sets or collections at once. To me it feels fair and right though. We've risen the prices on new years eve after a long talk to many of my customers and all suggested the price I'm having right now to be ideal. Is there a "humane" strategy to slowly raise the prices without scaring away my many returning customers?
@CreativeHiveCo
4 жыл бұрын
Your customers are probably not the ones who should be telling you how your prices are - most are not going to want you to raise them! That being said, you do have to be comfortable with your pricing but you should also be competitive with your market. If you decide to raise your prices you can alert your customers ahead of time, saying, "on xyz date our pricing will now be $$$" so they aren't surprised.
@MarvelousGenki
4 жыл бұрын
@@CreativeHiveCo thank you! Your advice really helps me a lot ❤ You make me feel more settled in my position and inspire me to grow
@mjvanvelsor
Жыл бұрын
You aren't even adding in marketing or business costs for the profit so these prices are even more 'justified'
@CreativeHiveCo
Жыл бұрын
Hi! I have a more detailed explanation of the pricing formula here in case you want to check it out: kzitem.info/news/bejne/qWmon4FpipqfgYY Feel free to also download a free copy of my Online Pricing Calculator here: www.creativehiveco.com/pricing-handmade-items-guide/ Good luck! Let me know if you have any questions. 😊
@zarasoleil8633
Жыл бұрын
What if your supplies are super expensive? Add it at the end of the formula instead? I hope you see this….
@CreativeHiveCo
Жыл бұрын
Hi Zara! When it comes to pricing your handmade products, you can check out my video here: kzitem.info/news/bejne/qWmon4FpipqfgYY Let me know if you have further questions. 😊
@ahmedlateefat-pp1mb
Жыл бұрын
What if the product is not handmade? Please I need answer🙏
@CreativeHiveCo
Жыл бұрын
Hi Ahmed! What products do you make? 😊
@giannanichols
Жыл бұрын
Okay but like I crotchet and it takes like a long time to make a blanket so what if an absurd price?
@CreativeHiveCo
Жыл бұрын
Hi Gianna! You can check out my other KZitem video here on how to price your handmade products: kzitem.info/news/bejne/qWmon4FpipqfgYY You can also grab my free Online Pricing Calculator here if you'd like: www.creativehiveco.com/pricing-handmade-items-guide/ Good luck! ❤️
@zyannaikigai9923
2 жыл бұрын
My first thought is you are so beautiful 💜 Thank you for the business tips!
@CreativeHiveCo
2 жыл бұрын
Thank you, Zyanna! I appreciate you watching!
@cybercatalogo
2 жыл бұрын
muchisimas gracias por tus sugerencias en este video ..!
@CreativeHiveCo
2 жыл бұрын
Hi Luis! I had to Google Translate your comment. Thank you so much for watching!! ❤️❤️
@moneyemony
2 жыл бұрын
This was extremely helpful thank you
@CreativeHiveCo
2 жыл бұрын
Thank you so much!! ❤️
@Beadofgoodcheer
4 жыл бұрын
Fantastic videos! Every last one..I agree w the comment below. I’m officially binging on your videos now as well👏🎉
@CreativeHiveCo
4 жыл бұрын
Awww, thank you, Julie!! 💖💖
@zefalcon6947
3 жыл бұрын
But wait What if you want to hire someone to take care of the production ?
@CreativeHiveCo
3 жыл бұрын
If you wanted to hire someone, you will need to pay them either hourly, or by the piece, so that is something you need to factor in when you are thinking of the "time" piece of the equation.
@Ash-yy8gw
4 жыл бұрын
Hi I have a question. Like what's the best way to price my paintings? Since most does not require a large amount of time but some requires a lot of paint materials and such
@CreativeHiveCo
4 жыл бұрын
A lot of artists will instead price their paintings by size, like X amount of money per square inch, square foot, etc. If you have a lot of materials, you are definitely going to want to use the standard formula and factor those in. I'm going to suggest this pricing playlist: kzitem.info/door/PLd52Nr4SNc0lSKtKaAY51NEYyVQD0Kohp
@senna2008
Жыл бұрын
Thanks... Just needed to learn cis ✌️
@CreativeHiveCo
Жыл бұрын
Thank you so much for watching, Senna!! ❤️
@mansoorgujjar2178
4 жыл бұрын
Hi I'm making P.v.c patches 1kg material is 4usd And in one kg I can make 40 PCs ( in one day ) How much I put my 1 patch PCs ? Sorry for a very stupid question
@CreativeHiveCo
4 жыл бұрын
Hi Mansoor, you would divide the $4 by 40 patches, so that is $0.10 per patch. Then you would add in the cost of your time (your hourly rate) to that. I have a pricing calculator on my blog you may also find helpful: www.creativehiveco.com/pricing-handmade-items-guide/
@Margi369
Жыл бұрын
For eg. If acrylic colour 20 ml bottle use to paint , thn how to decide that small amount of colour used in different project...what should pirce consider for that small amount of colour as a material ..
@CreativeHiveCo
Жыл бұрын
Hi! You can check out my pricing formula here where I explained the formula in more detail: kzitem.info/news/bejne/qWmon4FpipqfgYY Please let me know though if you still need further help! 😊 In case you want to download a free copy of my Online Pricing Calculator, you can check it out here: www.creativehiveco.com/pricing-handmade-items-guide/ Good luck!! ❤️
@Margi369
Жыл бұрын
Thank You...
@lynndan9747
Жыл бұрын
Hello Mei.. Thanks for the video! As a knitter, should I base the price on the actual cost of one skein of yarn if I only use half of the skein, or should I use material cost of half the skein?
@CreativeHiveCo
Жыл бұрын
Hi Lyn! Here's a more detailed video of how to price your handmade products: kzitem.info/news/bejne/qWmon4FpipqfgYY Please let me know if you have any further questions! 😊
@lynndan9747
Жыл бұрын
@@CreativeHiveCo Thanks!!
@thecynthia2710
3 жыл бұрын
I struggle with pricing. Thank u for this!
@CreativeHiveCo
3 жыл бұрын
It can definitely be tough but once you get the formula you are good to go!
@ShwetaTaank-v3p
2 ай бұрын
Thankyou. it was much needed
@CreativeHiveCo
2 ай бұрын
Thank you for watching!
@1827handmade
2 жыл бұрын
Wow, I've just come from a video that said cost price is just your materials and that cost + time/labour = wholesale, and retail is x2 of that. So essentially just a x2 formula. But you make some really valid points here, this is very interesting, my mistake has been thinking that materials + labour = retail price, what a laugh.
@CreativeHiveCo
2 жыл бұрын
There is so much more that goes into pricing accurately and for your worth. I'm so glad you found this video!
@maried.2551
2 жыл бұрын
I was doing the same thing....People that undercharge have other means of making a living so they don't notice it ..but you have to think about if you want to make a living doing this and end up needing to hire someone...at that cost +time =wholesale.. you couldnt even sell wholesale! You need all that extra money to pay business expenses (overhead)...all of us who do crafts part time aren't realizing just how much it would cost us if it were our only source of income as our other jobs pay rents/mortgage..... Just my two cents! (what I used to make an hour)..haha
@elisabethbabel8011
4 жыл бұрын
Do you COUNT your time in hours or minutes
@CreativeHiveCo
4 жыл бұрын
I use a time tracking app while I'm working and try to calculate as exactly as I can, but I would say try to count it in easy to manage chunks - hours, half hours, quarter hours, etc.
@jana99dance
2 жыл бұрын
But this makes my earings 50 euros a pair ?
@CreativeHiveCo
2 жыл бұрын
It very well might! If that is the case, that's probably what you should be charging, unless there is a way to find a better price for supplies or a way to trim down your labor.
@rosewaterz7959
3 жыл бұрын
thank u very much as i really enjoyed ur video. I m confused as to the packaging material cost such as a box, packaging filler paper, tape and labels - if these also shud be marked up 4x or shud it be 2 times only? pls advise, thank you 😊🙏
@CreativeHiveCo
3 жыл бұрын
Packaging materials should be added into your shipping costs and not marked up.
@rosewaterz7959
3 жыл бұрын
@@CreativeHiveCo thank u very much. appreciate it 🙏
@SXNAE
Жыл бұрын
great video, thanks!
@CreativeHiveCo
Жыл бұрын
Thank you so much for watching!! ❤️
@pmphunter
3 жыл бұрын
thank you for your video, I am happy hear about your explanation about pricing formula, but off course if our price is higher than our competitor, we shall give additional value in our products, but for my product it's very difficult to multiply 2 then 2 again, it's very big amount in result
@CreativeHiveCo
3 жыл бұрын
Yes, that's true, and most people are underpricing their work, which devalues the work for everyone else. People will pay well for really good handmade work, so I would suggest trying to increase at least a little bit.
@andreainpa5739
10 ай бұрын
I found this to be a very useful video.
@CreativeHiveCo
9 ай бұрын
Glad it was helpful!
@ciciepierre9113
4 жыл бұрын
OMG I didn't know that wow
@CreativeHiveCo
4 жыл бұрын
I hope you found it helpful! Thank you for watching!
@inicreativeminds1588
4 жыл бұрын
Hi Mei, Again very useful and certainly enables me to home in on the formula plus value methodology. Thank you again. Kuljeet
@CreativeHiveCo
4 жыл бұрын
Glad it was helpful to you. I hope you will be able to use the information in the future!
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