Card Pricing

Somebody on a Facebook group was asking how to set pricing for their cards in craft fairs, etc. People have different views on it, but here's my take...

Much depends on what you are looking to achieve.. do you need to pay the mortgage and the bills? Or are you just aiming for pin money to pay for your hobby, buy yourself occasional treats?

When I was trying for Option A, I found that it’s impossible to get back what you put into it, when running a serious business and accounting for everything that should be included in a pricing strategy. The market is not there to support it, so my advice would be to save yourself the heartache. If you can’t produce in volume at a price that the market will stand, hand crafters can’t make a decent profit.

If you’re just looking to cover your costs for new stash, then it would help you to make a list of what each item costs you, and break it down into single items, so gems, for example, you might want to itemise at 1p each, cardstock for cardblanks might be 15p each. (I’m just throwing numbers out here.. you’d have to do the calculations based on your own suppliers.) For items like paint, inks, etc.. it’s OK to guess at what it costs you per card.

Even if you only include the main items you use on a regular basis, it would give you a better idea of what you’re aiming for. It would be quite laborious to do it at first, but once you’ve got your list, you can refer to it with each card and easily work out roughly what it cost you.

If you think you can get away with it, try to include an element for (some of) your time. If you calculate that your time is worth, say, £10 per hour, then a 15 minute card will cost £2.50 + materials. Trouble is, most cards take longer than that, and you very quickly get to a point beyond which people won't pay. If you are prepping for an event, fair, etc, incorporate the cost of the stand, travel costs, etc, on your checklist, even if it’s just for your own information so you’ll be making informed decisions about whether the endeavour is a good use of your time, long term.

Keep your cards for sale at fairs, etc, as simple as possible, or you won’t cover your costs. People who don't make cards themselves will appreciate them all the same. Save your gorgeous works of art for special commissions or for family and friends.

If you are nervous about asking a price that reflects what your work is worth, remember that it’s always easier to start high and drop the prices later. You may be surprised by what people are willing to pay. Most crafters significantly undervalue their work. If you start low, you can’t go up, but if you start at the top, you can always drop.

Hope this is helpful. Others may have different experiences. 

My last words are ‘BE CONFIDENT’ and ‘HAVE FUN’!