I want to tell you a wonderful story about handmade product pricing. I know I’m on this topic again, but it is important and this happened today.
A few weeks ago a wonderful, talented maker messaged me saying ‘is it time for a proper job?’
Her prices were too low for her to make enough money and she knew it. But she was scared that her higher prices would mean no customers as some already thought her prices were too high.
The reality is we all need money to pay our bills, buy food to eat, to replace our craft supplies and to be able to do a few fun things too. When you under charge on products you then can’t afford to live your life, which means you then can’t afford to carry on making. You need to be charging enough for you to be able to live (not just survive) or very soon you won’t be able to continue with your business which would be a crying shame. You are worth it!
We considered her pricing, we discussed it and I reassured her that her ideal customers would pay as they value her. She went away to ponder and think, and to use my pricing system.
Pricing always brings up so many scary feelings and emotions. You have the skills. so you don’t value them. You assume people will think you aren’t worth it. You assume someone won’t be able to afford you. Stop assuming, it isn’t your place to second guess other people!
Anyway, back to the story, she has just messaged to update me.
She chose to be really brave and put her prices up, and started quoting using those new prices.
And her customers are still buying!!!
I had no doubts at all. Why? Because she is blinking amazing at what she does. Because they value her, and are they still buying from her? Because she is worth it!
Just to add, she wasn’t obviously too cheap before, but her prices didn’t work for her. She is in a very busy and competitive arena. She has the skills and talents, and knew something had to change, so she put on a brave face, stepped outside of her comfort zone and did it. I’m so proud of her!!!
How’s your pricing? If you aren’t charging enough, it doesn’t matter how many handmade items you sell you won’t make enough money.