"How much should I sell my cards for? set the price too low and you wont make a profit set the price too high and youll undoubtedly lose sales.
Calculate how much your cards cost to make. There will be a number of factors to consider, but some of your more obvious costs will be:
- Supplies such as card, paper, glue, embellishments, envelopes.
- Equipment have you purchased any start up equipment to make or display your cards?
- Labour which should cover not just the time spent making cards but also time spent on the administration of your venture.
- Postage and packing stamps, boxes, bags and packing materials.
- Overheads such as electricity and travel costs.
Once you have established your costs you can start to work out a selling price.
Pricing strategy is a key element and comparison market research into the price of handmade cards in your area, or online, is time well spent. Remember that if you sell your cards wholesale the price will be lower than if you sell retail. Retailers are typically looking to mark up by about 100% plus VAT. Selling to retailers on a consignment basis, whereby you own, display and replenish the stock on a regular basis and only charge for cards sold is often a good route into outlets. However, if you bundle a large number of cards to sell with a free display stand this is a good incentive for the retailer and a better proposition for your cash flow. If you are looking to employ an agent to market your cards they would expect a commission, typically in the region of 15%, similar to third party websites such as eBay and Amazon.
At the end of the day your profit has to be sufficient to be worth getting out of bed for!