When you are in a maker business, one of the biggest questions you’ll ask is how much do I charge for “x” services/products? One of the hardest parts of being a business owner is understanding your worth! This is especially when you are pricing as a maker business. In the process of choosing your prices and rates, keep in mind that you are not only charging for the product itself and your time to make it. You must also factor in the value of your experience and your knowledge.
Pricing as a maker business should avoid the “materials cost x, it took me x hours to make, therefore I charge x” approach. You want to charge for the value the product will bring. The prices you set and the types of pieces you produce will inevitably attract a certain type of buyer. In your business, you can choose if you want to create products that lean more towards being a commodity or a luxury item. You can hang out somewhere in the middle, too.
What is most important is that you value your time, efforts, and the value of your products. The right customers will find you if you stay true to these three things! We hope that this episode was helpful for you as you figure out your pricing as a maker business!
Listen to this episode on Spotify!