If you're starting a handmade stationery or art/paper goods business, this video is for you! And also relevant for pretty much any type of product-based business, too. I'm putting on my Professor Rebecca hat and I'm here to teach you all about pricing strategies including materials, fixed and variable labour costs, and more! Doesn't that sound fun? 😍
I know this can be a bit of a dry subject, so I tried to distill it down to the really important stuff and use lots of examples. So grab your notebook and pen and let's get ready to make our businesses profitable for both retail and wholesale!
If you've watched my "diy notepad" video, you'll find that one of the notepads I created using that method is my example product. So you can see a detailed breakdown of the costs that go into making one!
🌸Key moments:🌸
0:00 Introduction
1:31 Importance of pricing strategies
2:10 Price-Plus Pricing (Cost Pricing)
3:53 Why we love profit (for small biz)
5:16 Must-dos for profitability
6:54 Calculating material costs
12:32 Calculating labour costs
17:34 Total base costs calculations
18:57 Wholesale and retail costs
24:06 Other pricing models
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Hi, I'm Rebecca and I run Lucky Sprout Studio! I am an artist and graphic designer and love making cute artwork and fun stationery products. On my channel you can find art/product tutorials, business advice, and studio vlogs! I hope you'll join me~~
Also find me here:
🌸 social media: https://instagram.com/luckysprout.studio
🌸 my art studio shop: https://luckysproutstudio.com
🌸 learn more with me on Skillshare: https://www.skillshare.com/en/r/profile/Rebecca-Wilson/112600?gr_tch_ref=on&gr_trp=on (that’s my referral link - get 1 month free & try my classes!)
please subscribe if you love being a cute artist and doing cute artist things w me~