GetCrafty Craft Facts

Q: I have a dilemma. I make fused dichroic glass beads/pendants. I've often been asked for wholesale pricing, and I just can't seem to come up with a wholesale pricing schedule. I've sort of flip-flopped around, but I think I need to set some prices and stick with them. I've had some people think my pricing was good, and others say I'm not competitive. I refuse go below a certain price. I'd like to know what the rest of you beadmakers do. Do you set your wholesale at about 1/2 of what you know it can go for retail? My jewelry will sell in a retail store for $20 to $25, and on 'Ebay' for $10 - $20. What should my wholesale prices be? Any help would be greatly appreciated.

A: When setting your prices, you should come up with your wholesale first, then double it to get your retail. The reason you don't set the retail price first, then cut it in half to get wholesale is that in some cases, you will find you haven't made your retail prices high enough to accomodate wholesale prices. Did that make sence? I have read that in 'Crafting as a Business' and 'The Crafts Report'. Not everyone will like your prices no matter what, so if you know you are pricing in the range that you should be, don't worry yourself about the occassional person who believes your prices are too high. Also, be sure to have wholesale minimums, so wholesale orders will be worthwhile. For example, you don't want to just give away 4 or 5 items at wholesale to a shop owner that is only buying a few pieces for themselves, and then your work never makes it into their shop. A serious buyer will expect you to have minimums, and won't even bat an eye at it. I hope this helps a little. I know others will have some good input as well! I wondered if something is wrong with my system, so I tried several other websites, including some graphics intensive ones, but didn't have any problems. They loaded fine, and I can maneuver around them without incident.