I know that these will resonate with some of you.
I'm about to write a blog post on how to price your work for sale, but before that I wanted to clamp down on a few myths that your 'worry monkey' will try and put into your head.
The biggest issue among designer makers is....
(Drum roll please......)
Not charging enough!
Steve and I attend lots of craft fairs and shows, as visitors, buyers and sellers and see this all the time.
Designer Makers at Craft Fairs and Shows often worry that charging a realistic price is somehow wrong.
1.“I can’t charge any more, people won’t pay it.”
2.“Oh God …. Someone’s turned up selling the same type of stuff to me! I’ll have to undercut her or I won’t sell anything!”
3. “Well, it’s only a hobby… I don’t need to make any money from this”
4. “People who come to craft fairs want a bargain”
5. “I don’t have a workshop/shop and work from home, so can’t charge as much as someone who does”
WRONG! WRONG! WRONG! WRONG! WRONG!
I’ll take these one at a time:
WRONG 1 “I can’t charge any more, people won’t pay it.”
Ummmm and you’ve come to that conclusion how?
Makers and collectors and people who love and appreciate hand made produced items WILL pay a realistic price in return for something UNIQUE, HAND CRAFTED and MADE WITH LOVE!
WRONG 2 “Oh God …. Someone’s turned up selling the same type of stuff to me! I’ll have to undercut her or I won’t sell anything!”
Deliberately undercutting someone in the hope you will sell more will actually work against you. Why? Because people will look at you cheaper stuff and come to the conclusion you’ve made it out of inferior materials and have less skill that someone who is charging more FACT! If yours it cheaper, there’s clearly something wrong with it!… or rather that’s the way people will think.
WRONG 3 “Well, it’s only a hobby… I don’t need to make any money from this”
That may be so, but charging too little makes it difficult for those designer makers who DO live off their work to charge a realistic price and it will also devalue your work too and most probably lead to less sales not more.
Even if it’s a hobby you still have running costs and have to replace materials.
Making and selling crafts and not wanting or needing to take a wage out is fine, but at least do everyone a favour: charge a realistic price and donate the profits to a worthwhile cause.
If your work is too cheap, it will be judged at that. Peoples perception is
Cheap = tat.
If I offered you a mobile phone for £40 and one for £400.... would you really consider the one for £40? It's all about the value of what you are offering NOT the price!
WRONG 4. “People who come to craft fairs want a bargain”
Absolutely not! Of course there’s always the 20% that do (The 80/20 rule), but the majority are coming to see something hand made, hand crafted, value your time and workmanship and are willing to pay for it. FACT
I’ve never heard anyone come out of a craft fair and saying “Yeah, I bought this…. Cos it was cheap!”
Those who value hand made appreciate that very fact, they love what you do, it's hand made and as such is of quality.
WRONG 5 “I don’t have a workshop/shop and work from home, so can’t charge as much as someone who does”
Well, possibly not….. and not charging enough for your work, you are never likely to either. You must add to your costs as if you HAVE already got a workshop. Why? Because if in the future you do, you cannot suddenly ramp up your prices and expect your existing clients not to notice, you will lose your repeat customers quick that you gained them and word will get round that you've doubled your prices, so in their eyes are suddenly ripping people off.
Your affirmations for the day (Repeat often)
I value myself.
I value my worth.
I charge a realistic price for the work and effort I put in.
I am worth it!
Any of these ring a bell?
What does your worry monkey say to you?
Leave a comment below.
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