Charles, what is an apro?
Kennedi, you hit the nail on the head.
I wanted to express that for people like me trying to start out at
this moment in time perhaps a new pricing model is necessary.
So, with virtually very little overhead, I can put my jewelry up for
sale on a sight like Etsy. Maybe this is an excellent opportunity for
someone just starting out? Grab some sales, generate some cash for
the business while I still work the day job to keep the lights on.
One problem that I run into is say I use the 3xcost plus labour
model. This may work on Etsy for pricing but not if someone were to
approach me with a wholesale opportunity. In my original question,
one pendant costs $18 to produce plus my labour($35 hr). So, (3x$18)
- (1.5hr x 35) = $106 retail. Say I wholesale at 50% which is $53.
Given material cost, I would make $35 selling wholesale. This
wouldn’t cover labour fees. Off the wholesale price, I would make $88
(more fung shui)… More liveable. If I make the $106 my wholesale
cost and $212 my retail, this would seem a better model for selling
wholesale but doesn’t entirely mesh with prices on Etsy where it is
the Wild West of pricing. On Etsy, people sell great stuff for much
cheaper than they should sell it for mixed in with people trying to
sell at a more liveable price mixed in with a lot of random junk.
Perhaps Etsy is not the way to go but I’m strapped to my day job at
the moment. Etsy is a way for me to get my jewelry out there to some
degree while I have time in off work hours.
My point is, pricing for Etsy and pricing for wholesale to galleries
don’t seem to entirely mesh. It would be nice to sell online and to
bricks and mortar but the pricing needs to line up. If I retail at
$106, this is a price that works better on etsy but not for
wholesale. If I retail at $212 or more this is a price great for
wholesale but not for Etsy. This disjointed pricing doesn’t work well
if you want to start at etsy and transition to physical retail.
Also, another difference between the two, Etsy and a physical
gallery, is Etsy lets anyone sell whereas a gallery can be highly
selective. They are both at extreme ends.
Hmmm. We need an online market place like Etsy but one that forces
people to price their jewelery at more liveable prices and not at