How to Price Your Craft Products Properly (Without Undervaluing Your Work)
Working Out Prices for Your Craft Products Pricing your work is one of the hardest parts of running any craft business. It’s not just numbers. It’s confidence, experience, and sometimes a bit of trial and error. I’ve learned that the hard way, across two different businesses. My First Mistake: Undervaluing My Work When I was working as a carpenter, I never really valued my time properly. Wages on site were rising steadily, but I never adjusted my own rates to match. I kept charging what I had always charged, partly out of habit and partly out of fear of losing work. If a builder asked for a slightly better price, I’d usually shave something off. Even when I was probably already cheaper than everyone else. I wasn’t a ruthless businessman, and my pocket paid for it. Starting Again as a Beginner When I moved into woodturning, I was starting from scratch again but with much bigger unknowns. In the beginning, I couldn’t even make my early products properly. I was a complete novice. Wha...