You have just finished an amazing piece of jewelry. (It looks like something that would almost be too good for the queen of England). You add it to your growing inventory, yet when a customer kindly asks, “How much?”, you reply with a stutter and blank stare.
People who bead for profit often find that pricing is more complicated than the actual beading process. Yet, the following simple strategies will help you to charge the right price for your wonderful creations.
First, you will want to make sure that no matter how much you are selling your product for that you are happy with the price. If you feel that it can be tweaked, don’t be afraid to do so.
Secondly, make sure that you earn enough profit to go towards your own bank account and your supply funds. You never want to find your inventory short from lack of material.
Third, ask around. Talk to friends, family, neighbors, and fellow beaders. Show them some of the pieces you are selling and ask what they think you should price them. Then, you can get an idea as to what buyers will be willing to spend.
Lastly, look thoroughly at your product. Depending on what type of piece you have made, it’s overall durability and construction, and the type and quality of bead you use, you may want to charge a little more or less then you usually do.
The most important thing though about beading is not the money but the fun you have creating new pieces.
