Easiest way to price your crochet creations

As a passionate crocheter, you pour countless hours and love into each piece you create. From the moment you choose your yarn to the final stitch. But when it comes time to sell your beautiful crochet creations, how do you determine a fair price that honors both your hard work and the cost of materials?

Pricing can be one of the most challenging aspects of selling handmade items. You want to ensure that you’re compensated for your time and effort while also making your pieces accessible to buyers. In this post, we’ll discuss factors like material costs, labor investment, market trends, and perceived value helping you find the right balance between profitability and customer appeal.

Materials

Creating an inventory of all materials should be the initial step. Compile a list of everything you acquire, including shipping costs and taxes; this will assist you in determining how to price a creation based on the number of yarn balls utilized.

Example:

	Description	Qty	Price
1	5-ply milk cotton yarn	1	₦1,700
2	Chunky	2	₦6,000
			Total
			₦7,700
	Shipping		₦5,000
	Tax		₦1,210.25
			Final Total
			₦13,910.25

The list above indicates that the buyer purchased 3 yarn balls, and the total amount spent is Significant. Therefore, it is essential to maintain an inventory to avoid losing track of your purchases.

Time

The gown in the photo above is AI-generated. Imagine crafting this gown by hand; you would be meticulous, counting each stitch to avoid mistakes. A single error could mean unraveling your work and starting over, which would undoubtedly take days and require numerous yarn balls to finish. Let’s assume this project took 14 days to complete and utilized 48 balls of 5-ply milk cotton yarn; how would you price this exquisite handmade creation?

Firstly you need to have an amount you charge per hour. Example charge is ₦1,000 per hour

Using the list above, the price of 1 ball of 5-ply milk cotton yarn is ₦1,700 so multiply ₦1,700 by 48. because 48 yarn balls were used for the project.

Example:

₦1,700 x 48 = ₦81,600

Plus the shipping fee. (The shipping fee paid when purchasing the yarns) If yarns were bought more than once you can add all shipping fees or half of it.

₦81,600 + ₦5,000 = ₦86,000

Plus Tax. You can add half of the tax paid when purchasing the yarns. If you do not want to include tax then don’t do it.

₦86,000 + ₦1,210.25 = ₦87, 810.25

Plus time charges. ₦1,000 per hour for 14 days, but how many hours in a day was sacrificed? Example: 5 hours per day, that’s ₦5,000 per day for 14 days.

Days charges – ₦5,000 x 14 = ₦70,000

Plus the total of the last calculation – ₦70,000 + ₦87,810.25 = ₦157,810.25

You can add additional charges for the backaches you experienced while creating this project and other things you passed through. The example price is ₦50,000.

₦157,810.25 + ₦50000 = ₦207,810.25

Total is – ₦207,810.25

Implementing additional charges facilitates the procurement of more materials for future creations and helps mitigate losses when yarn prices rise. These extra charges can also be excluded from the base price whenever you choose to hold sales in your store.

If supplementary materials, such as gems, are incorporated into the project, their costs along with shipping and tax should also be included. However, this is not mandatory.

After a person purchases the creation you can let them know the amount they’ll pay for shipping and tax.

Small creation pricing

If your creation is small and only a ball of yarn is used or half of the ball; the price for 1 ball should be added to your time charges, tax, shipping, extra charges, and price of other materials used. Packaging charges can also be added.

Do not be greedy when pricing your creations. The quality of your creation can also determine how you price your creation.

In Conclusion

Pricing your crochet creations wisely requires a thoughtful approach that balances your cost, labor, and the value your work brings to customers. By carefully accounting for materials, time spent, and any additional expenses, you can set a price that reflects the dedication and love you pour into each piece.

Remember to consider market trends and perceived value while remaining fair and accessible to your buyers. Ultimately, your pricing strategy should not only ensure that you are compensated for your hard work but also foster a sense of appreciation for the art of handmade crafts.

By maintaining transparency and open communication with your customers, you’ll build trust and encourage more sales, leading to a sustainable and rewarding journey.