Pricing stuff. Always a touchy subject, and one I shy away from if there's any way to do so. But if I'm going to offer beads or anything else for sale, one I and every other seller out there needs to address. Many factors need to be accounted for, plus several I haven't yet discovered. The cost of materials and tools is obvious. Labor is too, but less tangible. Overhead is even less easy to nail down if you work out of your home, and then there's the category I've labeled "other" in my mental ledger.
It should be easy to see by this photo that my overhead is pretty low. I don't have to maintain a separate studio and the only utility that rises with my lampworking is the electric bill.
And then there's the "other" category. In my "mental ledger." Maybe if I had a real ledger and sat down and thought about what should really be in it, I'd actually have a chance. What should be in it? Listing fees, office expenses, postage, packaging, and advertising, if I ever decide I'm flush enough to invest in it. Where do batteries for my camera fit in? It's a stupid little expense but one that will bring the whole thing to a screeching halt if I can't supply it. Bead release: I'll be needing more soon and where is that in the budget? I'd want a computer with high-speed internet anyway but if my computer dies I'll need another one, and I can't list items on dial-up. I should get a better camera and take a lesson or two. And, as far as that goes, I would benefit enormously for a few lessons in lampwork.
Take the picture above and do the math. Figuring $7.50/hour minimum wage and $0.50 toward overhead and "other", the cost to produce the earrings above is $6.25. I am asking for $12 in my Etsy shop for these earrings. So, I am asking less than wholesale if the standard formula is cost of production x 2. Buy my stuff, it's a great bargain!
I need to do a lot of thinking about where I want to go with this.