Crafty/Etsy Musings

[jennythereader]

What do you guys think of the name "The Reader's Creations"? The url would be "thereaderscreations.etsy.com"


Or maybe "A Reader's Creations"? That url would be "areaderscreations.etsy.com"

Neither is in use at the moment. Any other suggestions?


Another issue is my pricing structure. This is the formula I came up with:

([(time x wage) + materials] x 2) + etsy fee = selling price

Terms:

Time: amount of time it takes to apply the color layer, doubled (it's hard to time the glue layers. They're lots and lots of 30 second chunks.)
Wage: $6.00/hour for now. I will adapt this number.
Materials: The cost of the item I'm covering + $0.10 per square inch to be covered (rounded).
Esty fee: $0.20 per item listed, plus 3.5% of the price when an item sells.

For example: A picture frame that took me half an hour to cover, has 19 square inches of surface area, and cost me a dollar would sell for $18.63. I'd probably round that to $18.00 or $19.00 even.

Does that seem like a reasonable price? Am I over thinking this? Are you guys sick of me asking for input yet?

Comments

[curlyeric.livejournal.com]

I would build a little more into the price since not every site charges the same listing/percentages and it's easier to go down than up once you've established. Even if you tack on another 25% you have some flexibility to come down without killing what little profit you are making. In the end the real wages will be (income - expenses) / ( time to make + time to sell ) and you should not underestimate the marketing end.

[jennythe-reader.livejournal.com]

Basically the formula is "double the cost of making it, including my time, plus the cost of selling it."

It seems like that gives me room to maneuver on prices, without losing too much profit.

[curlyeric.livejournal.com]

I know, and I'm saying you should go higher. You can always come down.

[jennythe-reader.livejournal.com]

Eh... look at my next post, in which I actually run my formula on the project I worked on tonight.