How To Price Your Creative Products and Services

Affiliate links for tools used. If you purchase I will get a few pennies for the purchase. About enough to buy a stick of gum 🙂 

Lori, here I have had so many emails coming into 2020 about pricing and what the rule of thumb is for creatives. I know this is hard to figure out and I want to try and help you with a starting point with this.

We’re going to start talking about pricing. I know that this is a really difficult subject, and it’s really hard to take the emotion out of it, but you have to. If you’re going to make this into a business, you can’t treat it like a hobby. You have to treat it like a business.

I tell you, even if you go into a little boutique in your area, they have the prices marked on there. They have already gone through and calculated what they’re going to charge, and they are not going to feel bad about charging you what they have calculated they need to charge. You don’t need to feel bad about it either. You’re doing this for a business. You have to remember that you are, for one, pricing your talent.

People who are buying from you generally are buying from you because you are filling a need. If you are selling sugar scrubs, it can be because they don’t want to have to make it themselves. If you’re selling wreaths, it’s because they don’t know how to put colors together, or it takes too much time, or whatever the reason. Keep that in mind when you are pricing your items.

Don’t be apologetic about your prices because if someone doesn’t want to purchase your item at the price that you set, they’re not the right customer for you. You do not want to get into the habit of discounting or lowering your prices because you’re just going to disappoint yourself. You’re not going to be treating your business like a business. You’re going to be treating it like a hobby. You’re not helping that person either.

The best way to start pricing your items, If you are selling products, what you want to do when you are first starting, is you want to take your cost and you want to double it. Now, you have to be careful to make sure you’re getting all of your cost in there.

Let’s take, for example, making a wreath. You want to count all of your ribbon. You want to count your pipe cleaners, your frame. You want to count the packing supplies. You want to count florals you might be using. You want to count signs you might be using. You want to count the tape on the packing supplies. If you are using packing materials, you want to count those.

If you are getting charged a fee to process that card, so if you’re selling it on Etsy, or if you’re selling it anywhere and you’re allowing people to use a credit card, you’re getting charged a fee, usually around 2.5%. So you want to count all those things because you don’t really know if you’re making a profit or not unless you are counting everything. When you’re first starting out, you double all of your costs.

I hope this information helps guide you in the right direction for your creative business. Don’t forget to check out my Success Path where I have hours of training videos for you and guided steps on how to start your creative business.

Shop- https://hardworkingmomstore.com/

Business Group- https://hardworkingmom.com/success-path/

Wreath design group- https://hardworkingmom.com/product/de…

Dollar Tree Wreath Frames – https://www.dollartree.com/metal-wreath-rings-1425-in/205297

Dollar Tree Pipe Cleaners- https://www.dollartree.com/crafters-square-assorted-chenille-stems-45ct-packs/162095

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Tools & Supplies Store-https://www.amazon.com/shop/influence…

Wreath Supplies with Trendy Tree- https://bit.ly/350JHZO

Affiliate links for tools used. If you purchase I will get a few pennies for the purchase. About enough to buy a stick of gum 🙂 

Need Help?

If you are interested in learning more about our Success Path group, you are welcome to do so following this link: https://hardworkingmom.com/success-path

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Find Me Here

Email me: lori@hardworkingmom.com

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