Etsy M/cr have a cost calculator on their website, you enter the cost of materials, time it takes you to make or put together, and your hourly rate, and it works out the wholesale and retail price for you:
I am doing a market in a few weeks and I am trying to price items realistically hahahahaha not really as I know if I charged my time out realistically no one would be able to afford anything!I guess if I was making things for sale more often I would be mindful of the time I am taking but as I am usually felting for my own fun I don't stress over the time it takes.
I have yet tried to sell anything and if I did I think I would be happy just to break even. Well, I did make the 24 pot covers but just barely charged for the materials but that was for my Garden Club so I do not really count it as selling.
It's finding the right market for the right sellers, and here it is very cliquey. I'd never get in with the crowd who do the markets where people might actually pay a decent price for some of my work, so end up at the places where everyone is happy to just break even, then get eye rolls at the prices I charge, which are still a fraction of what they cost in time/supplies.
Well I had a lot of fun at the market. I loved meeting all the people, both market goers and other stall holders. I did make a profit, though that was thanks to a lovely lady who fell in love with felt and came back a few times to buy more! and a delightful couple that bought my favourite scarf to use as a table runner. Some of my felting friends came to visit and thought I had priced things too low, I did err on the low side but figure better they find homes rather than sit round. I have put my name down for the next market so if I get another go then we will see. This might work.
I used to sell my felt down the road at a local café/gallery that really fitted well. I loved the things they sold and my style of felt fitted well. They took a very reasonable commission and were happy to take what ever I wanted to put in, if it had not sold in a month then I just took it back. It worked well but then was wrecked in the earthquakes 5 years back and I have not really tried to find anywhere since. Perhaps this market thing will be a go. Market Stall by janekiwi, on Flickr
Congrats Jane! I hope this works out for you next time as well. You had a lot of nice items and quite a variety. Perhaps you'll meet another shop owner who will fall in love with your art work at the next market if not before.
I saw this clip on facebook and it is an interesting way to look at it. its a bit confusing as he starts out with everything takes at least one day to make and then goes on to say how many of something he makes in a day. www.youtube.com/watch?v=Uu_qFDanGPY&feature=share