Sales are another.
Some of my friends don’t seem to understand why I’m constantly raising my prices. It’s not because I want profit margins to rise by 200%, but because I need to earn enough to keep at it. My goal is to set prices properly by the time I open my Etsy store–prices that would actually just earn me minimum wage.
I spend a lot of time on my clay pieces–usually about an hour per charm (by that effect, earrings take about 2 hours). It’s a long process: coming up with a design, conditioning the clay, creating the charm, coloring the charm (which may take anywhere from half to a full hour depending on if I use pastels or acrylics), glazing , and finally sealing the charm. Actual baking costs aren’t even considered (though they should be). Neither is packaging time. Costs are based solely on materials and hourly rate.
I guess it’s my fault for originally pricing my items so low. At the time, I priced them as such because I had researched and found stores such as Forever 21 that sold earrings as cheaply as $1.99 per pair. Being a fresh seller with no experience, I believed that there was no way people would buy my items for more than $2.50 if a legitimate store sells them for less.
I know better now. There’s no point or reason to compare the two kinds of items because there is no comparison.
My items are handmade with care. I make them with the person in mind. I don’t sell them unless I’m satisfied. They’re more expensive, but they’re worth more and are one-of-a-kind.
On the other hand, mass-produced items are impersonal. They will sell cheaply because it takes far less time for a machine to make them–from a mold, no less. Producers couldn’t care less if the items are defective as long as they sell.
Now, I give stuff to my friends all the time, but that’s different. It’s one thing to make someone a gift; it’s another to make something to sell and know that I’m not getting paid appropriately. I’ve had at least three friends question me about prices already. My only response is: As a newbie hobbyist, salewoman, and friend, please respect my prices and trust that I’m doing my best to give you the best deal.
