HANDMADE PRICING FORMULA

Pricing handmade products can be challenging, especially when balancing material costs, labor, overhead, and profit. The Handmade Pricing Formula helps crafters confidently set prices that cover expenses while ensuring a sustainable business model. This formula provides a clear and strategic approach to pricing, preventing undercharging and ensuring profitability. By considering factors such as material costs, labor, business expenses, and a suitable markup, you can determine a fair and competitive price for your handmade items.  The Handmade Pricing Formula Price = (Materials + Labor + Overhead) × Markup Breakdown of the Formula: Materials: The total cost of supplies used to create the item. Labor: The time spent making the item, multiplied by your hourly rate. Overhead: Business-related costs such as tools, utilities, website hosting, packaging, and workspace, divided across products. Markup: A multiplier that ensures you make a profit. Typically, the markup is 2x for wholesale