Hello again,
One of the hardest elements with my business has always been, How much do I charge? Many people have said that my prices are too low. I can agree with them in some respect, of course id love to earn more from my products, but there is a line you have to draw, I feel that pushing prices up pushes customers away. It’s not exactly the best time to be setting up business with the global recession taking grasp, therefore I’m not pushing my business out as much as I could. I’m happy to sit back and make good quality products. I’m fortunate that I can afford for the business to tick over without it costing me an arm and a leg. Therefore I have given myself the time to make the inevitable mistakes and nail down the core aspects of the business’s future. I can’t wait for the day I can run it as a full time venture.
The whole pricing debate came up recently when I finished making a bunting. I made 3 prior to Christmas as gifts to family members and took an order recently from a work colleague. I made the bunting double sided with top quality 100% cotton. I appliquéd the name of the child onto the flags to personalise it.
I researched around other sellers on Folksy, Etsy and Not On The High Street, to be confused further. There is such a vast price range from cheap to expensive. There are also lots of other aspects involved in the pricing strategy for example, quality. I feel confident that my bunting is produced to a good standard but have decided to keep my prices as reasonable as I can. I decided on £1.75 per plain flag, and £2.50 for a personalised flag.
It must be time for me to stop typing as Molly the cat has jumped on my lap, averting my attention away as she purrs to the high heavens.
Some positive thoughts in the times we are living in. I for one think your products are top quality. (Even though I have yet to purchase). I especially loved the bit about Molly the cat. xxx
I initially put Molly the fat cat, the term coined by Cameron. I decided it may look like I was being fat cattist. Its nice she now jumps on my knee considering she is not the friendliest cat, the strange thing is, she usually jumps on my knee after she has visited the litter tray!