As a crocheter, it can be tough to figure out how to price our work! You don’t want to undercharge and undervalue your time and effort, but you also don’t want to overcharge and drive away potential customers! So, how do you strike the right balance? Here’s a step-by-step guide to help you determine the right starting price for your crochet items.
Step 1: Determine Your Hourly Rate
The first step in pricing your crochet work is to determine your hourly rate. It’s recommended that you start with at least minimum wage. For example, if the minimum wage in your area is $16 per hour, then that’s a good place to start.
Step 2: Time Yourself Making the Item
The second step is to time yourself making the item. This includes both the time spent crocheting as well as the time spent assembling the item. Be sure to record the total time it takes you to complete the item. For example, a beanie may take you an hour and 20 minutes to make, but adding the pom and tag takes an additional 10 minutes, so the whole project takes you 1.5 hours.
Step 3: Determine the Cost of Your Item
The third step is to determine the cost of your item, with yarn being the biggest expense. Weigh the yarn to find out how much you used and calculate the cost. Also, be sure to factor in all other materials used like safety eyes, polyfill, and include shipping costs.
For example, let’s say you used 50g of yarn that costs $8 for a total of 100g. The total cost of yarn would be $4. The pom poms are $1.50 each, and you added 2.
The total cost is $1.50 + $1.50 + $4 = $7.
Step 4: Do the Math
Now it’s time for a little math (& If I can do it, then you know it’s easy)! Take the total time it took you to make the item in hours. Let’s say it took you 1 hour and 30 minutes to make the item, which is 1.5 hours. Multiply this by your hourly wage, which in our example is: $16
1.5 (time in hours) x 16 (hourly wage) = $24.
This is the cost of your labor.
Finally, add the cost of the materials to this price.
Take $24 (cost of labor) + $7 (material cost) = $31 (charge for that product)
Remember, if someone tries to make you feel like your prices are too high, they aren’t your ideal customer, and that’s okay. Stick to your worth and find your people in this business. With this step-by-step guide, you’ll be able to determine the right price for your crochet items and start selling them with confidence!❤️
