Pricing
you work
I am
often astonished at how little value artists place on their
work.
I have
attended many craft fairs and been disappointed with the
artists for putting so little profit on their work, very
often I know exactly how much time has been taken to create
a particular piece, I also know that once the item is sold
the artist will be lucky to break even.
So,
what is a reasonable amount of money for what you do?
Focus
on how long you spend working on an item, then decide how
much you want to earn per hour, as an Artist you should
be charging a reasonable amount for your time, take a look
at your works, are they unique, desirable or different?
If so, this can increase your rates
For
each different type of product you make and sell you should
research what price the market dictates for that particular
product, although you don't have to price the same, it will
give you some idea of how much to base your hourly rates
on.
Use
the same method for all products, research what the market
dictates.
When
setting a price take into account the following;
The
time it takes to make
Materials
cost
Overheads
(such as stall rental, petrol, promotion, etc.)
Emotional
value*
If you
can produce a product that has a competitive price and you
are making a reasonable profit then you're onto a winner,
if not then you need to rethink your design, examine the
materials costs/ time taken or take drastic action and dump
that product in favour of a more profitable one!
Sometimes
it is good to simply up the price by ten or twenty per cent.
Remember these are handmade products you are making, exclusive
only from yourself and should be priced accordingly
Many
people would be suspicious of a product that is under priced
and will not buy, they conclude there must be something
wrong with it as the asking price is to low.
Emotional
value
If you
are making greetings cards, then you need to remember that
people almost always purchase a card as a reflection of
their emotions for someone else, quality and design are
important but the main selling point of a greeting card
is how it expresses the feelings of the person that buys
it, therefore if you sell at craft fairs you can increase
profits by simply personalising your cards for individual
customers.
Selling
your products at your price
It is
so important to believe that your products will sell at
the price you want, you have to expect, when you are selling
products that people will give their opinion, you have to
learn to be strong enough mentally not to take their opinion
to heart, when it is negative feedback you must remind yourself
that for every negative jibe there will always be twice
as many positive comments.
You
will also need to gather courage, to wait for the buyers
that will buy your products at a reasonable price and not
give in to the little voice in your head, have confidence
in your product, believe that people will buy a good product
at a reasonable price, have courage to see the bigger picture.
It is
sometimes very hard when overhearing the comments many people
make very loudly about your work, people can be very judgmental
at craft fairs, the reason for these comments is generally
down to JEALOUSY.
Jealous
because they couldn't do what you do in a month of Sundays,
jealous of your creative talent, jealous that you are doing
something with your life, and in general they will want
to knock you, Which they often do, very loudly.
I suggest
that instead of sitting, you Stand, it is much harder to
make comments facing the artist, you should stand up and
be counted, face people, this shows that you are proud of
your work, it also creates an image that you are there to
sell your products and that you mean business.
When
people linger around your stall for even a tiny moment,
you should ask
'Can
I help you', when you are selling products, you should give
the impression that you are there to sell your products
and you expect people to buy them, you should not hide away
reading every piece of reading matter you can lay your hands
on, with your head down because you don't want people to
see you or let them know their rude comments hurt your feelings.
You must build on your positive mental skills, each time
you hear a rude comment about your works you must be deaf
to it, ignore it. You must never take comments like these
to heart.
Set
your prices so you are getting
A REASONABLE
PRICE FOR YOUR WORK.
Article
by Jacque Barns copyright © 2001
Reproduced from the web site An
Artist in business
Are you an artist in business? For more information
that can help you succeed in your business click
here
|
