One of the biggest challenges crafters and handmade sellers face is deciding how to price their work.  Many artists don’t want to turn off potential sellers by the price tag, but they want to make a decent profit for the time, effort and cost of materials involved in making their products.  

When deciding on an appropriate price, a formula needs to be implemented to factor in the following variables:

• Hourly Labor Wage –  Time is money, so you should be able to determine the hourly rate you would pay yourself, just like you would any other job.

• Hours to Create Items – The amount of hours needed to create your product. Use this in conjunction with your hourly labor wage to determine the cost of the time and effort needed to create your craft items.

• Material Costs – The costs for purchased materials to make your handmade items.

• Number of Items Made – The number of items you create will have an effect on all factors such as materials needed, hours to create and cost of materials.

• Shipping Fees – Shipping fees can be costly, especially for larger or heavier items so it’s important to factor the cost to ship your products to customers.

• Taxes – Don’t forget to include any sales tax for applicable states.

• Markup – Finally, determine the profit you would like to make on your handmade products. 

Using a Craft Calculator for your handmade goods will:

• Ensure you have factored in all of the costs involved in making your crafts.

• Take any guesswork out of figuring out how much to charge.

• Help you to understand what factors are consuming a large part of your budget and make adjustments if necessary which will give you a better chance of increasing your profits.

Pricing your products appropriately will play a huge factor in your success, especially if you are looking to make a steady income from your work.  If you can find ways to save money on your craft supplies, the better your profits will be. For ways to save money on craft supplies check out our post on How To Save Money on Craft Supplies {and Score Free Stuff Too!}.

Before using this craft calculator, it is important that you research similar products in the market, your business objectives (how much you want to make a year, season, at an event, etc.). 

Don’t worry about trying to figure this out for yourself!  With our Craft Calculator below, you will easily be able to determine how much to charge for your crafts and estimate the profits you can make with each sale!

Just move the sliders to the left or right on each element to adjust your sales price. It’s easy to manipulate based on your cost of supplies, production time, number of items, etc.

You can use this calculator to price handmade items or any other type of item.