Start & Run a Craft Business. William G. Hynes

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СКАЧАТЬ price at which your product will sell.

      There are many successful craftspeople who never market through shops because their work will not sell once the wholesaler’s markup is added on. In such cases it is possible to proceed directly to the second method of pricing; that is, charging what the market will bear. Even if you sell the bulk of your work at wholesale, it is a good idea to try out your prices at craft markets.

      In selling directly to the public at craft shows, beginners are more likely to underprice than overprice their work. This is because they are determined to succeed and they often feel that their product will sell better if the price is low. Also, they are aware of the “flaws” in their work, the minor imperfections that are not noticed at all by the public.

      You should try experimenting a bit in the beginning with prices. Look at the prices of competing goods or goods similar to your own and aim to come roughly half way between the highest and the lowest of these. If you sell everything very quickly, you should raise your prices gradually, though not so high that they hamper sales. If your initial prices don’t attract a sufficient number of buyers, you will have to lower them. Aim for the highest possible price at which your product will sell.

      Your net profit will usually be much higher when you retail your work at craft shows — as high as 50 percent to 80 percent, depending on the show costs and the costs of your material. This is certainly a good argument for selling as much of your work as possible at shows, even if you also have a large wholesale business.

      A factor that is sometimes important in retail pricing is the consideration of various “price points,” such as $10, $20, $50, above which, for some products, there may be a certain amount of consumer hesitation. In such cases, it is often desirable to price a product just slightly below one of these points — for example, $4.75 or $4.95 rather than $5.

      It is also important to be able to offer your customers a range of prices; that is, to have a product line with items in each of the main price ranges. Some people may be looking for an inexpensive gift under $5. Others may not be able to afford your large Number Ten Widget and instead settle for a medium-size Number Ten.

      It is best to be as versatile as possible and offer a range of products to appeal to different pocketbooks.

      There are also differences among various craft markets in terms of what people can afford or are willing to pay. It is neither advisable nor ethical to adjust your prices upwards or downwards to suit a different clientele, but you can offer a range of products and prices for different types of customers. At Christmas time, we sell a lot of our less expensive toys at a market in the north end of the city in a predominantly working class area. At another market, in the “upscale” south end, a few weeks later, we sell quite a few of the more expensive items. When times are good, we sell more of our higher priced items than when times are not so good. It is best to be as versatile as possible and offer a range of products to appeal to different pocketbooks.

      c. Sales Literature

      Whichever way you choose to sell your products, you will need sales materials that you can leave with undecided store owners, hand out at trade shows, or display in a craft show booth for people to pick up and take with them. Sales literature can be as simple as a business card or as elaborate as a color catalog with detailed descriptions of all the items in your line.

      1. Business cards

      Your business card should include your name, the name of your company, your business address, and your phone number. If you have e-mail and a Web site, it is important to include these on your business card. Your card should also include a brief description of your work (e.g., “Precious Gems” or “Custom Woodwork”). While you can order a fancy business card with your name in raised, gold-embossed lettering, it saves money and is just as effective if you pick a simple design. Business cards are very inexpensive when ordered in lots of 500 or 1,000 using one of the many available standard type styles. The cost may go up if you have pictures, drawings, or a company logo which requires the printer to do special artwork. If you have a computer, an ink-jet or laser printer, and desktop publishing software, you can easily print your own business cards using blank business card stock available in most office supply stores. Some word processing programs also have the capacity to print business cards.

      2. Brochures and catalogs

      Brochures and catalogs enable you to place information on your products in the hands of prospective customers. They can be a valuable sales tool whether you hand them out to prospective customers who visit your booth, send them out through the mail, or use them to show your products to store owners. This is the good side.

      The bad side is that they are relatively expensive to prepare and to print. More than one craftsperson has had the experience of going to a great deal of time and trouble to prepare a color brochure only to be disappointed by the final result.

      The production of a good color brochure is a fairly expensive process involving photography, design work, color separation, and printing. A black and white brochure is simpler and less expensive. Should you decide to go for a color brochure or even a black and white one, you should use a reputable design firm. If you pick one from the Yellow Pages, ask to see some examples of their work before you decide.

      The production of a good color brochure is a fairly expensive process.

      For most small craft businesses, the simplest and most cost-efficient brochure is a one-page information sheet that can be photocopied. With recent advances in photo reproduction, it is not difficult to make good quality copies of drawings and even pictures; however, you don’t necessarily have to produce images. A listing of your products with brief descriptions, sizes, and prices will often be sufficient.

      If you have desktop publishing software on your computer, you may want to produce your own brochure. Many advanced word processing programs also have the capability to produce a basic brochure. The decision to do the work yourself or to hire a professional will depend on the kind of brochure you want and how you plan to use it. If you really want an eye-catching, glossy brochure that will impress people who have never seen your actual products, you should use a professional service. However, if you just want something inexpensive that you can hand out to customers at craft shows, you might want to produce your own.

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