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0 sats \ 4 replies \ @grayruby 16 Dec \ on: What's a fair price for buyer AND seller? AGORA
Have you considered ways to get your cost of production down? If your cost is 25 you should be selling it for 75 but that’s too pricey. If your cost was 15 you could sell for 45.
What do you think? I've managed to get a business account with a solid retailer, but even then it's €100 per fabric / component before the reduced price kicks in, for which I simply don't have the capital right now.
Therefore, I'll first need to price my items higher until I have accrued enough capital from sales such that I can reduce said prices based off the lower possible future material costs...
People should keep in mind that these items will probably outlive them, hence a premium isn't that much out of place anyways, but it has to be balanced.
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Once things really kick off, I'd be able to buy roles of fabric right from certified Mills, but these go for > $800 - $1200 / 75 yard per colour, plus shipping, plus customs.
I can lower the production costs greatly with those amounts bulk orders, but one needs place and capital and interest to justify such investments up front.
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I suggest pricing them a bit higher than you feel comfortable with. If you were thinking 35 then try 45. If you were thinking 45 then try 55. It will be easier to lower your price than to raise it. Ultimately you want to determine if there is a market for your bag and how much people think is a fair price for it. It's difficult to say without seeing the bag and just basing it off your cost of production. My suggestions are based on what you should be aiming for in terms of margin. You may not make any margin on the initial ones.
If you can sell some and prove market demand at the price point you are selling them at then you can borrow from a bank to buy a larger stock of materials to get a better price.
It's a grind but have fun with it.
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Yeah, it's always a bit difficult simply going off text, but I'm confident they'll look fine.
I'll probably settle somewhere between €40,00 - €45,00 on current costs, but that's only a rough estimate as well as I don't have final pricing on what a batch of those will cost in terms of laser-cutting.
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