Petal Pins Pricing

[denialrenae]

I know I can count on all of you to be honest with me. Do you think the price of my pins are a little steep? Should I lower the cost on them? It takes me approx. 3-5 dollars to make one pin.

While at the mall on Tuesday I saw some an a small upscale boutique store that were selling for $18 - $30 a piece. The quality of them were not as good as mine.

Thanks for all of your help and input!!!!!!!

Denial
http://www.petalpinsbydenial.com

[greenoak]

i would probably go a little lower.... when you are just starting you learn so much by selling , and a lower price might help... ...its a great thing and why not start low and see where it goes.., have you done a show or anything like that with them ? .. lots of artists price themselves right out of the market before they even get their feet wet... jmho...

and too many girls shop for price and tjmaxx had big beautiful ones from 7 to 10.... unfortunately that is your competition...and everybody seems to be on a budget...

ann of greenoak

www.greenoakantiques.com

[Alicia]

Hi,
You should have 2 prices-- 1 wholesale and then retail.
Your costs seem a little high to me -- Is there a way you could buy the materials needed at wholesale prices.so your cost is 1.50 for each pin-- then wholesale at $5-6 and retail at $10-$15.00.
How long does it take to make each pin-- that is very important to consider . Can you make at least 15 an hour-- hopefully more.
Greenoak is correct re competition-- but also don't price too low or you won't make any profit-- and that's what its all about
Alicia
http://www.AliciaTappDesigns.com

[denialrenae]

At the shop where I get my flowers (they are wholesale), the large ones run about $2-$3 per flower. Then you figure in the price of the glue, the closure and the backing.

I did drop the prices. Hopefully that will help some. I think I am going to place a few on ebay this weekend. The ones that are more for fall/winter.

I also added a links page and have one link on there. if you would like to exchange links, just let me know.

Denial
www.petalpinsbydenial.com (http://www.petalpinsbydenial.com)

[Kathy Ann]

Have you checked online to see if you can do even better on your supplies? I would try to figure out where your supplier is getting theirs, and go direct to the source.

Even then, it may not be possible to price them low enough. The reason is that most people shop by price, not quality. Who cares if their pin will fall apart in 2 wearings when they can just dash down and get more at the dollar store? Personally, if I want something I always search for American-made first, but that means I shop more and own less. I happen to enjoy living that way but my mother is just the opposite. She wants to come home with presents every time and if something wears out, oh goodie she can go shopping again.

I did the Christmas Stockings for 2 years before I bailed. $12.00 is my absolute minimum because I refuse to do a stocking that isn't lined. But shoppers don't care about that stuff. They can get one that looks similar at Big Lots for a third of the price, even though it will fall apart the minute you try to put something in it, can't be washed and was made by slaves or little kids.

If you can locate the niche for the high-end pins, you can target your energies there. Who would pay more for quality and where do they shop?

[zuzus_garden]

Hi Denial,

Pricing depends on who your target market is, and what they are willing to pay. Do your research up front, write a business plan, and decisions on what to do and how to do it will become much easier. You can get info on writing a biz plan at your library or online.

Join The Switchboards (http://www.theswitchboards.com/switchboards_home.html)forum. Indie jewelry, accessory and handbag designers post there. It’s a great resource, especially for what you’re doing. I’ve met some cool designers and swapped art, links, info and ideas there. Priceless!

Also, get some biz cards made up. Wherever you go, accessorize with your flower pins and when people comment on them, ask if they’d like a biz card so they can visit your online shop and choose their favorite. They’ll tell you what they think about your pricing.

If you want to sell consignment or wholesale, call to arrange a time when you can go back to that upscale boutique and meet with their buyer. Offer to show why their customers would prefer your flower pins over what they are currently selling, and if yours are priced just a little bit lower, they may decide to order from you next time. You could also stop by a few upscale beauty shops – with prom and weddings coming up, your flower pins would make beautiful hair accessories.

I shop like Kathy Ann. Less is more, and quality is a must. I prefer American-made components for my work.

I have received several emails telling me that my prices are too low. I learn a little more everyday, and make adjustments as I go. Most of this info came by sharing with others - hope it’s helpful to you too.

Zuzu

[Lisa S]

Although I've been known to shop for house goodies at Target, the stuff I keep forever and really love is the handcrafted stuff. I'll pay good money for something really, really special.

I think the advice about shopping your suppliers is very good. And it's fun too ~ kind of like a scavenger hunt. Best of luck!

[greenoak]

i think the 15$ an hour for crafters is just right when you are starting out...after you get good and fast...your first trys would be lots slower of course...then if you grow and have to hire some work out you can pay a decent wage......
hey zuzu....i see lots of customers every week and no one has ever told me my prices were too low. .... some competitors maybe but not the buyers.....that sounds funny to me...
did the ones who told you that buy a bunch from you?

we are kind of known for upscale style and good quality at a nice reasonable price.....and thats not a bad niche...in fact if anyone out there is trying brick and mortar retail i would say try that ..instead of being the highest price on the street..and we have to make good money or fold up the tents....

..also on target and tjmaxx...the stuff isnt that much worse than anywhere else in qauality... that is what makes any selling retail really tough... we can say its chinese junk but most of tjmaxx or the dollar store was in a nice store a few months ago...the public really shops and they go so many places .
.i assume tracy porter stuff is now made in china....i know most of the country artists things are...


our solution is to throw something antique into the product.. or make something so big it cant be imported easily..like our hardwood cupboards.... to try and compete on something little is pretty hard....

ann


www.greenoakantiques.com

[Lisa S]

I view antique stores, good furniture stores, and stores that sell well made handcrafted items in one catagory. Those are the stores that I find my quality, keep-it-forever housewares. Target and Fred Meyer are for desposibles ~ trendy items that will show up at my garage sale in a few years. I don't see the two types of businesses competing for my business. I wouldn't go to 7-11 to buy a steak!

Ann's business is thriving. A testiment to the good taste/good sence of us gals out here! Make something unique, make it well and price it right. They will come.

[zuzus_garden]

Ann asked hey zuzu....i see lots of customers every week and no one has ever told me my prices were too low. .... some competitors maybe but not the buyers.....that sounds funny to me...

People that realize how long it takes me to make the miniature cross-stitch pics, people that realize my botanicals are real and my watercolors are orig (not mass-produced prints) have told me my prices are too low.

The purpose behind my business must be unusual. I think everyone should be able to enjoy real art in their homes.

Zuzu

[greenoak]

thanks lisa....for the nice comment...its a good reminder to me what people really come here for..like the ratty old shutters i just got.as well as the big expensive old oak chicago cupboard........and thats how i shop too....

.sorry zuzu ...didnt mean to offend....i love art , in antiques as well as new.........its truly an enriching thing.....but i do think lots of artists price themselves out of a job before they even get started.....and i hear lots of advice to price even higher...

and i like your butterflys a lot... and the price seems very reasonable.......

i love school girl art and old folk art and old shop projects...and about any floral painting.....i try and have lots of paintings around ...as well as lots of old needlework....


ann of greenoak


www.greenoakantiques.com