tag:blogger.com,1999:blog-18710479.post6109058158798197475..comments2023-10-19T03:40:40.815-04:00Comments on Go Knit In Your Hat: On the dilemma of pricingCarolhttp://www.blogger.com/profile/07651035210994960810noreply@blogger.comBlogger33125tag:blogger.com,1999:blog-18710479.post-44241858387280706572008-01-13T22:17:00.000-05:002008-01-13T22:17:00.000-05:00How much do you figure you rtime is worth? Look ...How much do you figure you rtime is worth? Look up minimum wage in you rarea as a base point and then factor in artistic talent etc. Then calculate your time. Add in cost for yarn, dye etc. markupa reasonable percentage and there you go! If the "reasonable percentage" has you stumped, then check out what other comparable yarns are goin gfor, compare to you rcosts and then pick a number higher than your costs but in the range you found...Carolhttps://www.blogger.com/profile/07047009380102911866noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-10156823254660115882008-01-11T13:13:00.000-05:002008-01-11T13:13:00.000-05:00Just a quick comment about shipping costs. I'm far...Just a quick comment about shipping costs. I'm far more willing to pay a high percentage of the purchase price from a small business than from a big online store. --MaryAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-86052710082397862412008-01-11T11:59:00.000-05:002008-01-11T11:59:00.000-05:00Just FYI for interested parties, Staples has a 250...Just FYI for interested parties, Staples has a 250 pack of cardstock for under $10. As a guess, you could get three ball bands out of a page. 750 ball bands per pack. That works out to under a penny and a half per band. <BR/><BR/>Just my opinion. I'd buy the fiber anyway. Just a more durable/better looking band for almost no more work and a tiny cost would be an easy improvement.Sherry Whttps://www.blogger.com/profile/02103490521732524156noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-2114332308838617372008-01-11T06:15:00.000-05:002008-01-11T06:15:00.000-05:00I thought I would mention that your questions and ...I thought I would mention that your questions and these answers are a real help to me with my stuff. Thanks for doing my research for me!<BR/>And Sherry W. thanks for the tip on paper. I've been looking for something heavier, but didn't know what to ask for at the supplier. <BR/>Barb B.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-12584186545472953722008-01-11T02:03:00.000-05:002008-01-11T02:03:00.000-05:00I'm selling patterns, not yarn, but I'm looking at...I'm selling patterns, not yarn, but I'm looking at revamping my pricing too. Although I sell mostly PDF downloads, things like Etsy fees and hosting fees add up, and I have the feeling that I've been underpricing myself. As I, like you, need to make money off this venture, a price increase in the near future would be a good business choice. <BR/><BR/>I do sell some finished items (mostly pattern samples I no longer need), and for postage, I employ a little retail cheat picked up during my many years of working retail service jobs: hide it. I calculate the cost into the listing price on Etsy, and then put $0 in for US shipping and $5 for international (I use USPS Global Priority, which is $11 and the most reliable international post I've ever used with the possible exception of the Swiss post).<BR/><BR/>I made "fancy" tags with my business info and care instructions, printed with my Print Gocco on manila tags I bought at an office supply warehouse. They fit the aesthetic I'm going for (handmade, old-fashioned) and my mother hates them because she thinks they look messy and not easy to read. She is not, btw, in my target market.<BR/><BR/>I buy as much as I can from Etsy, and I'm willing to pay a bit more to support another independent small business owner. My purchase from you was for KSKS, and well received! I don't remember how it was packaged or mailed. It didn't matter to me.Unknownhttps://www.blogger.com/profile/09198016142293356641noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-20750940733888005612008-01-10T20:33:00.000-05:002008-01-10T20:33:00.000-05:00From my POV as an Etsy seller, I do like some kind...From my POV as an Etsy seller, I do like some kind of simple, pulled together packaging for a more professional look. It doesn't have to be crazy or wasteful, even just a business card is fine.<BR/> <BR/>To be honest, I think an improved ball band with your logo and a slightly heavier paper would be an improvement, especially when selling at the shop. You have to print and cut it now anyway so it won't take more time. Lightweight cardstock/resume paper isn't expensive bulk. Especially if you can get a couple bands out of a page.Sherry Whttps://www.blogger.com/profile/02103490521732524156noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-24455825152998726742008-01-10T19:38:00.000-05:002008-01-10T19:38:00.000-05:00Concerning packaging, the one thing I would say to...Concerning packaging, the one thing I would say to do (you might already, I haven't been able to be a customer yet) is to have business cards printed up and tuck them into the plastic bag the yarn is in. It would make it slightly more likely that when somebody comments on how great the yarn is, the knitter could respond with "Thanks! It's Black Bunny Fibers" (especially useful if they had the card handy to give to the interested person) instead of "Thanks, I got it somewhere on the internet"Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-70369469932817948282008-01-10T16:35:00.000-05:002008-01-10T16:35:00.000-05:00There was a point in my life where I the dilemma o...There was a point in my life where I the dilemma of deciding how much to charge for items that I made that I had put of myself into. I struggled quite a bit with the part about "valuing" myself. One of the things that helped me was to actually think about how much I thought I should be paid by the hour to make what I made. That figure went into the pot with the more tangible figures like the cost of raw materials. It was interesting for me, because when I started breaking it down that way I realized I was making about $3 an hour, and ummmm...psychological issues aside, I knew I was worth more that that ;-)<BR/><BR/>I would also like to comment about the fancy packaging. I've ordered many a thing through etsy lately, and it isn't the wrapping that makes an impression on me at all. What usually makes me smile is when there is a small "thank you for your purchase" type of thing in the package, or even on the invoice. The one that really sticks out to me was a little cut out heart (like we made on valentines in elementary school) with a "thanks! please come again!" handwritten on it. I saved it for a week (ok, I'm clearly lonely). But the point is, I think many folks by handmade/independent just for that very reason. To feel connected to the creator.<BR/><BR/>One last thing: when I wrap gifts of yarn or handknits that I give to people, I usually use scraps of yarn to tie it up instead of a bow.<BR/>XO~ bonnieMsAmpuTeeHeehttps://www.blogger.com/profile/03733762919331458954noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-18995764821009774822008-01-10T11:10:00.000-05:002008-01-10T11:10:00.000-05:00>> Is my attempt to keep prices low a psychologica...>> Is my attempt to keep prices low a psychological undervaluing of what I do, a sort of self-punishing humility?<<BR/><BR/>This is between you and your analyst! However, there are 2 competing theories - low prices keep customers coming back(Walmart); high prices indicate luxury and quality (Bentley). Personally, I'm somewhere in between, decent prices for decent goods keep me coming back. And as you have great goods and decent prices, I keep pounding feet to your virtual door! <BR/><BR/>>Am I being unfair to other dyers, and thereby devaluing what they do, by not charging more?<<BR/><BR/>Depends on their costs and stuff as well. It's not like you guys are price fixing!<BR/><BR/>>Am I being pennywise and pound-foolish when I try to do things to save costs, like not getting fancy labels printed up?<<BR/><BR/>I'm not knitting the label!<BR/><BR/>>Do people realize that the reason I use Priority Mail instead of first-class, or UPS, is because I can save a substantial amount of money by getting free Tyvek mailers from the post office and a substantial amount of time by using on-line postage and shipping functions on Paypal? Or do they just think my shipping costs are really high?<<BR/><BR/>No, your shipping costs are more than fair. I do an extreme amount of on-line shopping. Using the Tyvek mailers and priority mail is generally the cheapest way (and often the most reliable) to go unless it's a really big order in which case UPS ground and recycling a box out of the incoming stuff works fine around here.<BR/><BR/>>Do I alienate customers by doing some things on cheap? How to decide what to do on the cheap and what to spend money on? ><BR/><BR/>Ok, the money goes in the wool and the dyes. That's the product. If you went cheap on THAT we'd all be making tracks. <BR/><BR/>>Would it be better for me to, say, tie up my packages with fancy bows made of scraps of yarn, or use some kind of packaging, even if that takes away precious time from the dyepots? <<BR/><BR/>No. We aren't knitting the bows either. Unless it's a giftie. In which case, the person should send you a note and pay a few $$ more for it. You don't see Amazon giving away free giftwrapping, eh?<BR/><BR/>>Should I consider more widespread wholesaling of BBF to yarn shops -- would the exposure to a wider customer base help overcome the fact that I'd be making half as much money per skein although my costs would remain the same?<<BR/><BR/>This is a business decision. To a certain extent wholesaling to shops frees up time for production as you aren't selling, mailing, etc. On the other hand, those of us no where near those shops would suffer from not buying direct. At some point or another, one part of the business will start to irk you. At which point it will either get farmed out or an assistant (kid, whatever) obtained, etc. <BR/><BR/>My friend, this is your business. My own feeling here is that you have sent me some of the best yarn to play with, and I'm a happy customer. 8-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-45427664772108483092008-01-10T09:57:00.000-05:002008-01-10T09:57:00.000-05:00And I'm appalled to hear about that customer! Make...And I'm appalled to hear about that customer! Makes me wonder about a particularly PITA customer I had once, too!<BR/><BR/>JenniferAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-44146853487637451112008-01-10T09:53:00.000-05:002008-01-10T09:53:00.000-05:00Very timely post, as I just received three prices ...Very timely post, as I just received three prices increase notices from three of my suppliers. Definitely something I think most of us obsess over (or maybe I'm just a pointy head, too).<BR/><BR/>I do think it's hard to price handmade items fairly for both the buyer and the seller. There is an intrinsic value of the artist's talents that is rather intangible, thus making it hard to put a price tag on it. And then again, how much is your time worth? Not to mention all the hidden costs of running a business.<BR/><BR/>Ah well. Head banging going on over here, too!<BR/><BR/>JenniferJenniferhttps://www.blogger.com/profile/16141519485467690147noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-73746979253947446502008-01-10T09:28:00.000-05:002008-01-10T09:28:00.000-05:00This is a hard issue. The true cost of intangible...This is a hard issue. The true cost of intangible things that go into a product are infinitely difficult to put a price on. I value creativity, humanity, etc when it goes into a good product. I'm probably in the minority. Do what you feel is right for you. If it comes to packaging, the environmentalist in me says less is definitely appreciated. Save all the pretty rubbish for someone else. I buy from you for the yarn you create.Carolhttps://www.blogger.com/profile/14821254952159389780noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-16815416930942829482008-01-10T09:02:00.000-05:002008-01-10T09:02:00.000-05:00Marilyn is correct--you have no reason to feel gui...Marilyn is correct--you have no reason to feel guilty about making money. If you do not make money, you will stop doing this and then where will we be? Do it for us--charge the price the market will bear. <BR/><BR/>I love my skein of BFF. I recently changed careers (to be a librarian) and will have pretty much zero disposable income for a bit (health care costs now that I have to start at the bottom in a part-time position eat it all up). That said, when I have a special pair of socks to make, BFF will be one of my first choices for fiber.<BR/><BR/>Keep your costs low--the shipping is a perfect example of the right thing. Use every drop of that dye (including the last bits stuck to the sides of the jar by washing it out). Source your raw materials well. Track all your resources used--water, heat, etc. and talk to an accountant so you can write them off. That way, you will have more room to play with the cost of you. <BR/><BR/>Your are right to want to be a cost leader--a good value is always welcome, especially as we enter this (dare I say it, no why bother) inflationary time of economic hardship. I think you will find BFF will outlast some of the other over priced merchandise.Cynthiahttps://www.blogger.com/profile/12564530076403259504noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-36618502610040723352008-01-10T01:11:00.000-05:002008-01-10T01:11:00.000-05:00I've bought a lot of roving and some sock yarn fro...I've bought a lot of roving and some sock yarn from BBF. I've loved every yummy bit of it. I've never cared or even thought about how you shipped it to me other than the fact that I noted you're swift and careful that the roving doesn't end up glued into the package (ack! hate it when that happens.) I think pricing by what the market is doing is normal, isn't it? I mean, if you want to feel guilty, we'd love a nice sale once in awhile to compensate so, you know, you'd feel better. :-) Otherwise, gee, you're giving us not only your work, your creativity, and your skills, you're providing us with minutes of your life. Are they freebies? <BR/>And now that I've written all this, I do hope the prices will stay in a range that will allow me to continue to feed my BBF addiction since I have the feeling withdrawal would be excrutiating.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-53535996455917352762008-01-09T23:17:00.000-05:002008-01-09T23:17:00.000-05:00You're right. There are many issues to be conside...You're right. There are many issues to be considered, and you have done a very good job of presenting both sides. <BR/><BR/>But, fuzzy wuzzy feelings about fibre and related crafts aside, you are running a business. <BR/><BR/>Charge what the market will bear, and if that doesn't cover your costs, along with an adequate return on investment, it's time to either find a new market or exit.<BR/><BR/>Harsh, I know, but fuzzy wuzzy feelings don't pay the bills.<BR/><BR/>And personally, I would pay more. Your colours are amazing.Missteahttps://www.blogger.com/profile/14272237117666282891noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-14249818404174491952008-01-09T22:14:00.000-05:002008-01-09T22:14:00.000-05:00"Geez, it's hard being an overanalytical pointy-he..."Geez, it's hard being an overanalytical pointy-head who thinks too much."<BR/><BR/>I read this line out loud to my husband (we are fellow overanalytical pointy-heads) to make him laugh.Alwenhttps://www.blogger.com/profile/03200150883889857882noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-89926053468339083742008-01-09T21:07:00.000-05:002008-01-09T21:07:00.000-05:00I knit lace shawls from fingering weight yarn, req...I knit lace shawls from fingering weight yarn, requiring about 800 yd. That usually means two skeins. I'm going to toil over each shawl for many hours and I want the best, prettiest yarn I can find. I also know that prices of everything are going up. I know I could save money buying mill yarn, not specialty yarn. I'll gladly pay more for hand-painted or artisan hand-dyed yarn than for commercial yarns. I know I'm paying for a real person's hands-on creativity and skills. I'm getting something unique and special that will ensure, in return, that the lace shawl I knit is also unique and special.<BR/><BR/>This will sound odd, but to many people a higher price is an indicator of better quality. If the product is too much of a bargain there must be something wrong with it. Inferior material, corner-cutting, something. So it's a balancing act; keeping your prices high enough to indicate quality and low enough not to price yourself out of the market.<BR/><BR/>PS. When you're adding up your labor, don't forget the clean-up time. That's a common error of artisans.Mary the Digital Knitterhttps://www.blogger.com/profile/13220677178778080050noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-49309784305006142132008-01-09T19:58:00.000-05:002008-01-09T19:58:00.000-05:00Hi Carol,I was lucky enough to score one of your s...Hi Carol,<BR/><BR/>I was lucky enough to score one of your sock yarns at Rosie's (mauve-licious! what a great name) and I really appreciate the quality and colors of your yarns. If you need to set the prices higher, then so be it - your yarn is at this point cheaper than koigu, and your colors are nicer. <BR/><BR/>(no, I'm not a relative either)Gausshttps://www.blogger.com/profile/03953027267171854345noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-49189727572332808262008-01-09T19:07:00.000-05:002008-01-09T19:07:00.000-05:00Thank you for sharing your neuroses. You have hel...Thank you for sharing your neuroses. You have helped me to feel less alone in mine. That said, I hope you are able to find a way to not be weighed down by yours too much. I think your thoughtfulness in this matter is wonderful, and I hope it translates into great sales, success, and enjoyment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-78775634430600482142008-01-09T19:00:00.000-05:002008-01-09T19:00:00.000-05:00Nice packaging is, well, nice -- I do notice it (S...Nice packaging is, well, nice -- I do notice it (Sundara's yarns & packaging is a good example I think), but it doesn't make a difference in whether I buy yarn again or not -- the quality of the product is what matters. <BR/><BR/>FWIW I don't trash that fancy packaging, I re-use it (from using it to wrap up homemade soaps or candles to, if nothing else, pad/protect things I'm mailing).<BR/><BR/>Priority mail is fine. I just figure it in as part of the cost of the yarn.<BR/><BR/>Unless you can seriously increase production I don't think you really need to sell to other yarn shops, especially if you're going to have your own website soon.<BR/><BR/>I'm not even going to comment (much) on pricing b/c I don't want to shoot myself in the foot....but unless you have stock that simply doesn't move, you could probably go up 10% esp. on your sock yarn and no one'd bat an eye.<BR/><BR/>FWIW I think it's hard sometimes to really value your own time. I'm an independent contractor and it was about 2 years before I (finally got the nerve and) raised my rates. I'm on my second increase in 6 months and plan on increasing again in June. No complaints from any of my clients.Stephhttps://www.blogger.com/profile/12390184548389376679noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-18755432955162453142008-01-09T18:34:00.000-05:002008-01-09T18:34:00.000-05:00Hello Carol,This post is incredibly timely. I've ...Hello Carol,<BR/><BR/>This post is incredibly timely. I've been thinking a lot about pricing lately (a big skein of undyed yarn is on its way to you). I think that you can afford to raise prices - your yarns sell out very fast.<BR/><BR/>I'm not persuaded to buy by packaging of the yarn, I actually like ziplocks - the sock project is usually stored in them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18710479.post-78678125344306133632008-01-09T17:41:00.000-05:002008-01-09T17:41:00.000-05:00I'll be completely unbiased because I have never b...I'll be completely unbiased because I have never bought yarn from you (have meant to, but just never followed through - New Year's Resolution #1 - buy yarn). <BR/><BR/>I will pay more for yarn that has a uniqueness to it or that has a colorway that particularly interests me. However, $28 seems a bit much. <BR/><BR/>If shipping is an issue, you can ship via the Postal Service for an $8 flat rate and they provide the boxes (which come in two sizes). Plus, you can schedule a pick up so you don't have to run out to actually ship them. Also, tell you customers that the shipping isn't negotiable since it is what the Post Office charges you. The only thing you must do is order your boxes on-line in advance. The rest is a piece of cake. <BR/><BR/>Off to buy some yarn!Lola and Avahttps://www.blogger.com/profile/03337394774901078530noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-10561702239391534572008-01-09T15:29:00.000-05:002008-01-09T15:29:00.000-05:00First off, I think your prices are fair.When I wan...First off, I think your prices are fair.<BR/><BR/>When I want cheaper yarn, I buy commercially made yarns, which don't have the same interest as yours. And even many of them aren't that cheap anymore. I was just pricing some of the Noro sock yarn and it goes for about $20. I think the Kaffe sock yarn is about that too.<BR/><BR/>When I made the Celestine Shawl out of your laceweight, I made a garment that could not possibly be replicated with commercial yarns.<BR/><BR/>I personally believe that pricing is a lot like blogging.<BR/><BR/>You price/write what you think is right and stick to that. If folks want it, they consume it, and if they don't, it's probably a good indication that you should stop blogging/dyeing.<BR/><BR/>I've had my eye on <A HREF="http://www.etsy.com/view_listing.php?listing_id=8578047" REL="nofollow">the blue laceweight out on your site right now</A>. I may need to design another shawl.Anonymoushttps://www.blogger.com/profile/17367675557386034708noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-18481407010608537032008-01-09T14:59:00.000-05:002008-01-09T14:59:00.000-05:00I think you have to analyse to the point of over s...I think you have to analyse to the point of over so you know how and why your numbers are where they are so you know where you can change them when and if you need to.<BR/><BR/>That's not neuroses... that's a business plan.Marin (AntiM)https://www.blogger.com/profile/06169366794914669666noreply@blogger.comtag:blogger.com,1999:blog-18710479.post-40166314039296076762008-01-09T14:57:00.000-05:002008-01-09T14:57:00.000-05:00I'm leaving a biased opinion - I LOVE your yarn. ...I'm leaving a biased opinion - I LOVE your yarn. I'd be willing to pay more for the skeins because I like the way you dye, more than other higher-priced alternatives. <BR/><BR/>To figure out how much you might want to charge, you could factor in how much the yarn (fleece) is to purchase, how much dye it took (I know it's little bits, but little bits add up to a lot), your precious time in doing this (don't undervalue your time!), postage, packaging, etc. When people ask me to knit for them I usually tell them they can't afford me because of my time - the number of hours it would take to complete something.<BR/><BR/>Fancy wrappings and extras in the package can be fun, but I'm in it for the yarn, not the extras. Priority Mail is fine by me because it gets the yarn to me quickly. If you're on Ravelry, check out my Projects page, I have 2 pairs of Here There Be Dragons socks made with BBF yarns there (I need to post more pics, and I have another pair I have to put up). <BR/><BR/>Keep up the great work!Deborah C.https://www.blogger.com/profile/10541110133935524762noreply@blogger.com