| I mis~calculated the cost items of my jewelry products that I will be selling to another shop. The term wholesale, and I didn't add the cost up right. L is gracious to help me figure it out and I'm giving the wrong total. Thanks L for be so patient and helping, I really appreciate it. So here are the right calculations: *For the bracelet, I spend $9.00 on material to make that. *For the men's necklace, I spend $10.00 on material to make it. I also think that I will take L's advice on the time I use to make it and bring it in to 2 hours on the products. It's gradual, but it's coming together. Getting started with anything new takes time and work, which ensures a successful business or any aspirations. Whoever has a dream of owning their own business, and it may seem hard-don't give up!!! Keep at it, presevere and believe it will happen, pray and ask the Lord to help you and be patient while your working on it and it will happen. Check out www.adozeneggs.com and see what I mean. The owner, of that cookie company made her dreams come true. She's even baking cookies for famous people. If you haven't seen Recipe for Success that comes on the Food Network-she was featured on there. I believe she has a video on her site that you can watch some segments on there. You'll get to see her presevere and made it. She now has her business to prove. L you know I gotta give you props girlfreind. That's what friends do. That can be an inspiration to you all. Stay focus, never give up and your dreams will happen. O.K. gotta go, I'm about to work on this new dream I have added with having my own business and that's work on my book. Hopefully finish it in this year and try to get it published this year. Tall order right? Well I'm gonna try. L I got the calculations right this time. :) Chat with you all later. Oh by the way, what are ya'll dreams for this year? |
Wednesday, January 14, 2009
I Mis-calculated
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2 comments:
OK, so now the cost to make a bracelet is $9 for materials and $4.50 (if you make two an hour). That's a total of $13.50 for each bracelet. (which still sounds high. I would charge $27 to $30 (which is 50% to 55% profit margin, this is standard).
Now for wholesale, you have to think about the store/vendor that is going to buy your product. They'll be marking up at least twice what you charge them. So I'm not sure about how much you should charge for wholesale.
I think that you should find a way to cut your costs. Can you purchase your supplies at wholesale? Can you speed up your production?
One more factor to consider: do you supply packaging? A box and some cotton padding? Have you factored the cost of that into your raw materials cost?
Finally, I usually can produce and package our cookies a lot faster if I do things assembly line style.
I know that's a lot of info, and I hope it helps!!
Thanks L, I really appreciate you helping me. I can see what I can do to cut the cost of making the bracelets. Jewelry materials come in packs and I actually totaled them together, instead of pricing them a piece. But you have helped me tremendously. You've given me a head start and now I can use this as a guide to calculate other products in my shop. Thanks so much. You rock. :)
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