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Speckla 01-09-2013 06:05 AM

How to turn a hobby into profit....suggestions...
 
http://images15.fotki.com/v1626/phot...030127a-vi.jpg

'ello curlies! I have ventured into the world of crochetting and knitting. I have only made scarves and blankets before. It's a new year so I decided to learn a few new crafts.

I have a few questions:

1. How much would you pay for an item like the above?

2. Does anyone here have experience in knitting and crochetting - who would be willing to answer a few questions? Such as how to learn how to read a pattern. I pretty much just wing it on figuring how to make something. This is my second hat. I made an owl hat last week. My goal is to get better techique and improve quality.

3. How do you determine profit? I figure I'd like to make about X per hour...time, cost, and material.
It takes about $2 worth of yarn and two hours to make the hats and scarves.

TIA.

I have made a lot of different purses lately and a lot of people at work have expressed an interest in having me make them one. I'm just not sure how to go about pricing at a decent price and still make a profit.

scrills 01-09-2013 06:31 AM

Speck, Im on the road for work today so i can post more later, but i have two easy stores one of which features crocheted items. I event been good at stocking it because 've been swamped with my first store, but i will do what i can to help.



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multicultcurly 01-09-2013 06:43 AM

It's not quite the same thing but when I worked at a beading store about a decade ago, the people who made jewelry calculated $5 for every hour of labor and doubled the cost of materials when pricing. They also factored in the price of comparable items and the difficulty of making the piece into the final price.

CGNYC 01-09-2013 08:08 AM

Check etsy to see how similar items are priced and see which ones are selling.

Narnia 01-09-2013 09:46 AM

Quote:

Originally Posted by CGNYC (Post 2098638)
Check etsy to see how similar items are priced and see which ones are selling.

This is what I was going to suggest as well

Po 01-10-2013 01:36 PM

I don't have any pricing advice, but that hat is really cute!

coilynapp 01-10-2013 01:41 PM

Etsy store!!!!!!!
Look for similar items and see what they are priced at. But also factor in the quality of yarn your are using (price of materials--including shipping if it applies), number of hours to make etc)

I knit and crochet, but I don't know how you would learn to read a pattern. I just know how--I wouldn't know how to teach it.

Good luck! Those items are cute!

scrills 01-10-2013 01:44 PM

Quote:

Originally Posted by multicultcurly (Post 2098613)
It's not quite the same thing but when I worked at a beading store about a decade ago, the people who made jewelry calculated $5 for every hour of labor and doubled the cost of materials when pricing. They also factored in the price of comparable items and the difficulty of making the piece into the final price.

This. come up with a formula and don't forget to add in a buffer for wholesale orders (10-30%). If someone asks for a bulk quantity with a discount, you want to be able to give them a break in price

scrills 01-10-2013 01:48 PM

I have a few questions:

1. How much would you pay for an item like the above?

2. Does anyone here have experience in knitting and crochetting - who would be willing to answer a few questions? Such as how to learn how to read a pattern. practice, family, friends, YouTube, trial and error I pretty much just wing it on figuring how to make something. This is my second hat. I made an owl hat last week. My goal is to get better techique and improve quality.



3. How do you determine profit? I figure I'd like to make about X per hour...time, cost, and material.
It takes about $2 worth of yarn and two hours to make the hats and scarves.
Cost+Hourly wage+Buffer for wholesale + Adjustment for competition and similar items.

Here is my etsy store iof you are interested. If you want to check out my prices

www.piperandstone.etsy.com


TIA.

I have made a lot of different purses lately and a lot of people at work have expressed an interest in having me make them one. I'm just not sure how to go about pricing at a decent price and still make a profit.

I use the wholesale price for my family and friends or what they would spend at someplace like Marshalls or Target

Speckla 01-10-2013 10:56 PM

Quote:

Originally Posted by scrills (Post 2099541)
Quote:

Originally Posted by multicultcurly (Post 2098613)
It's not quite the same thing but when I worked at a beading store about a decade ago, the people who made jewelry calculated $5 for every hour of labor and doubled the cost of materials when pricing. They also factored in the price of comparable items and the difficulty of making the piece into the final price.

This. come up with a formula and don't forget to add in a buffer for wholesale orders (10-30%). If someone asks for a bulk quantity with a discount, you want to be able to give them a break in price

Thank you, ladies! I cannot tell you how helpful
this has been. I am selling locally right now. I have several orders from students and teachers at my son's school. I am charging about $15 for students and $20 for adults. I am keeping the prices low as I'm learning more and improving.

Better stock = prices will go up $10-$15 more.


I am sticking with hats and scarves for now. I plan to pre-made solid color beanies and scarves (red, white, black, grey....) and will make what characters people want and add matching fringe to the scarves. I want to have a good stock pile of basic designs so I am not making as I receive orders. It should save time.


Thank you Scrills. I cannot thank you enough. I need some curlie volunteers who would like to be test subjects. Free hat or scarf for some good advice or constructive suggestions.??

thelio 02-06-2013 09:48 AM

I'm hyjacking, or threadjacking (i'm stealing this thread!)

before I do so:

1. Speckla how is it going? Have you starting an etsy account?

2. scrills the info you provided was awesome sauce!!

now lets get down to business:

A friend of mine has also begin an etsy account.

All things crochet by MPers on Etsy

Is there anything else that should be added? and suggests at all? thanks all!

sidenote: speck, I hope you dont mind me threadjacking. i just figured you starting a thread that asked and answered a lot of questions already. :D

scrills 02-06-2013 11:01 AM

Tell your friend congrats on opening a store. It's big step :-)

I see three big things right away....

One
Take pictures on less busy background (White, she can just use white or light grey posterboard)

Two
Tags - She's not using all of her tags. It will be hard for people to find her. For example, with the hello Kitty hat, I would use

white
hat
hello kitty
cat hat
teen hat
child hat
Girls hello kitty
Red
ear flap animal hat
hello kitty hat
dress up
fun hat

Three
Description - is it kid size, adult size? How many other colors does she offer? What size it? what color is it? What material? How long does it take? It is made to order?

Example:
Newborn
0-6 months
6-12 months
12 months- 3 years
3 years to preteen
Teen
Adult female
Adult male


Here is her competition on the Hello Kitty Hat. I think there are some great ideas here

http://www.etsy.com/search?q=hello%2...ery&ship_to=US

murrrcat 02-06-2013 11:06 AM

I've seen non handmade hat like that go for 30.


So I would say 30.

YOU MADE THAT??
THAT HAT IS AWESOME.

I'll buy it for 30 right now.

thelio 02-06-2013 12:04 PM

Quote:

Originally Posted by murrrcat (Post 2115119)
I've seen non handmade hat like that go for 30.


So I would say 30.

YOU MADE THAT??
THAT HAT IS AWESOME.

I'll buy it for 30 right now.

i didnt make them my friend did.

she made me this for my birthday:

http://img1.etsystatic.com/015/0/767...54605_jfmg.jpg

its so warm and i get so many compliments!

and this for work (those my hands! I'm a hand model y'all!):

http://img2.etsystatic.com/016/0/767...55358_oil4.jpg

thelio 02-06-2013 12:07 PM

Quote:

Originally Posted by scrills (Post 2115118)
Tell your friend congrats on opening a store. It's big step :-)

I see three big things right away....

One
Take pictures on less busy background (White, she can just use white or light grey posterboard)

Two
Tags - She's not using all of her tags. It will be hard for people to find her. For example, with the hello Kitty hat, I would use

white
hat
hello kitty
cat hat
teen hat
child hat
Girls hello kitty
Red
ear flap animal hat
hello kitty hat
dress up
fun hat

Three
Description - is it kid size, adult size? How many other colors does she offer? What size it? what color is it? What material? How long does it take? It is made to order?

Example:
Newborn
0-6 months
6-12 months
12 months- 3 years
3 years to preteen
Teen
Adult female
Adult male


Here is her competition on the Hello Kitty Hat. I think there are some great ideas here

hello kitty hat on Etsy, a global handmade and vintage marketplace.

thanks scrills i'm passing all that info on to her!!!

scrills 02-06-2013 01:31 PM

Great hand modeling. Are you for hire, LOL

If she/you have any more questions, let me know. I was really tempted to write a sample listing for her but I decided to behave.

Best of luck to her!!

thelio 02-06-2013 01:34 PM

Quote:

Originally Posted by scrills (Post 2115211)
Great hand modeling. Are you for hire, LOL

If she/you have any more questions, let me know. I was really tempted to write a sample listing for her but I decided to behave.

Best of luck to her!!

Thank you thank you!! she really appreciates it!

Speckla 02-06-2013 06:21 PM

I do not mind at all. Post and share away.

I have sold 7 items to date! :)

thelio 02-07-2013 06:36 AM

Quote:

Originally Posted by Speckla (Post 2115405)
I do not mind at all. Post and share away.

I have sold 7 items to date! :)

YAY!!!!!

Good luck!!!

multicultcurly 02-07-2013 07:14 AM

Quote:

Originally Posted by Speckla (Post 2115405)
I do not mind at all. Post and share away.

I have sold 7 items to date! :)

Congrats! I wish you continued success.


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