Ask and answer | How to get a reasonable price for a handmade product? @Lan Anh Handmade 833

You can turn on subtitles by clicking the CC icon at the bottom of a YouTube video I have received a lot of similar questions, and I think many people also ask this question, so I made this video to answer you from my personal point of view. The selling price of a handmade product includes 2 parts: price of raw materials wages * raw material price : you can easily price it depending on your raw material purchase price and the number of materials used for the product. * Wages : With handmade products, it is difficult to price because it depends on many factors. - Your workmanship: for example, a product made by me 10 years ago is much cheaper than a product made by me at the present time. - Is it a single model or a mass sample : if it is a design you create or make to order and only 1 piece, it will cost much more than a mass-produced and mass production - the time it took you to complete the product : sophisticated, time-consuming products will cost more than simple models - Use value as well as artistic value of the product: 2 products have different methods of making, different working time but the same results, the selling price will also be the same. Therefore, you should choose the simplest, least labor-intensive way to get the highest profit value. - Target customers and where you sell your products. For example, if you make products with feng shui stones and sell them to people who have feng shui needs, the price will be higher than when you sell them to people who only ask for the product and don’t care about feng shui. Products sold in luxury shops will be much more expensive than those sold in markets * I take a specific example of my pricing: - 1 product I made in 1 hour 10 years ago I valued 2$ - But the same product if I make it now I can value it 5$ (and now I can make it in 15 minutes), if it is sold in a luxury shop, it can cost 10$ - 20$ - If it is a custom product (made according to the customer’s idea), it will probably cost twice as much as 3 times compared to the product made according to your idea (the price of 1 artist) - If you follow other people’s designs, and do it in bulk (the time to make each product will be shortened) the labor price is only the processing price (the labor cost of 1 worker) Each person will set a reasonable price for their products - so that the buyer feels the right value of the product and wants to buy it - the seller himself feels worthy of his effort Hope you will find your own answer Website : Facebook : Instagram : Donate : All playlist of Lan Anh Handmade channel : Timestamp 00:00 questions 00:20 how to calculate product price 00:46 how to calculate wages 01:41 Specific examples 02:08 conclusion