Question on Wholesale Pricing?

[denialrenae]

I had someone contact me that would like to consign with me. She makes and sells knitted hats and thought my pins would look great on her hats. I currently sell my pins at the following prices - small $10, Med $12 and large $14. What would be a good wholesale price for her and at what should I make the minimum quantity?

Also what is consigning anyway???

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

[Kathy Ann]

Consigning means they will take your item and then pay you if they sell it. They add on to your price so they can keep a little bit on every item of yours that they sell. If they don't sell it within a certain amount of time, you get it back.

Now about your wholesale price. The retailer might expect you to charge them half of what your retail price is.

If you can't do that, this is a good time to step back and re-figure your pricing including materials, time and overhead plus a percentage for profit, commonly 40% to 60% on each pin. That's your retail price.

Now, chop your retail price in half and try to figure out how many pins they would have to buy in order to inch your profit back up into the 40% range.

You obviously love making pins. If they're too expensive to be profitable or if there is too much competition, you could keep them as a sideline and add a line of catalog items to your website, or branch out into other crafts. I went through quite a few items for a few years before I found the right combination of things I love to do versus what pays the bills.