How to Price Wholesale Jewelry
You have made some jewelry and now you want to market it to stores. You will have to consider some things before you walk through the doors of the store. How much are you going to sell your jewelry for wholesale? If you price it too high, they will not take it. Of course, you can always lower your price later if you find people are complaining. Pricing your jewelry piece too low will not cause people to buy your item either. They will probably think your jewelry is junk or will not last. When setting a price, there are some things to consider.
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Instructions
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Record exactly what you spent to create each design. This will help you to determine the cost of supplies you used to make the piece. If some of your items came in bulk packaging, simply divide the cost you paid by how many are in the package.
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Keep track of how much time you spent in making the product. You need to figure out how much you or your worker charge for an hourly wage. If it is $10 per hour and a bracelet takes you two hours to make, then total cost would be $20. Of course, some pieces take hours to complete and to charge the full amount of labor would not be practical.
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Keep track of how much it cost to send the item. This includes packing materials, plus the cost of postage and insurance.
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Write down the cost of overhead purchases. This includes cost of advertising, phone service, price tags and jewelry-making tools. Also, any expenses connected to the business end and not mentioned in the above steps.
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Determine the total cost of the piece. Remember to include your cost for supplies, shipping and packaging. To this amount, add a 15 percent markup.
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