Sculptured Box
5th July 2006, 09:54 PM
This is a dilemma for those interested in selling their product to support / re-invest into their craft be they Box Makers, Wood Turners, Scrollsawers, Chainsawers, Rocking Horse Makers, Boat Builders, Furniture Restorers, Chair Makers, Cabinet Makers, Wood Scuplters, Wood Forum host, Timber Merchants, Computer Experts and everyone else whose interest is woodworking!
What are the rules / elements / principles (if there are any) by which we can determine a fair and reasonable selling price for our work?
Yes there are a numerous influences (in accounting terms "cost factors"), such as the cost of the raw materials, cost of production (electricity, machine cost, wear and tear, consumables etc.), marketing cost, selling cost, retail markup cost, plus a proportion representing our creative input, and dare I say it "a profit margin"?
Do you have an answer?
What are the rules / elements / principles (if there are any) by which we can determine a fair and reasonable selling price for our work?
Yes there are a numerous influences (in accounting terms "cost factors"), such as the cost of the raw materials, cost of production (electricity, machine cost, wear and tear, consumables etc.), marketing cost, selling cost, retail markup cost, plus a proportion representing our creative input, and dare I say it "a profit margin"?
Do you have an answer?