Skip to main content

Posts

Showing posts with the label Starting a Business

How to Price Your First Product When You Have No Pricing Experience

Years ago — a market stall, a table covered in crochet lions and bunnies, and a stack of paper price tags I'd written and rewritten by hand. A measurement in centimetres, a dollar sign, a number crossed out more than once. That's the honest version of pricing. Not a spreadsheet. Not a formula pulled from a business course. A woman with a pen, guessing, adjusting, guessing again. If you're standing at the start of your first product and you have no idea what to charge, here's what I actually know after twenty years of pricing things — restaurant plates, bubble tea, rental units, and crochet toys on a market table. Start with what it actually costs you Before you think about profit, add up two things honestly: materials, and your time. Materials are easy to undercount if you forget the small stuff — thread ends, packaging, the ribbon you tied around it. Time is where almost everyone lies to themselves. Not because they mean to. Because two hours sounds better than four...