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Okay I understand artists charging more than mass producers for items. But your prices are a little high. Feel free to correct me if I'm wrong.
I’ve said this a hundred times. Other artists have said this. People who aren’t even artists but care about others being able to support themselves from their work have said this. This is my job where I make my full time living. My prices are the way they are for a reason. And even if it weren’t my full time job I am performing a specialized skill producing luxury goods that takes time, money, and years to perfect. I deserve to be compensated for that work even if the money doesn’t go to basic survival necessities.
My products may be out of your price range, which is okay. That just means you aren’t my target market. But that doesn’t mean they are overpriced. And that doesn’t make it okay to walk around telling others what they should charge. There are a hundred resources on why artists price the way they do out there, please read the following and take some time to educate yourself:
- This is a “simple” forumla for pricing. It does not include any specifics and simply includes “expenses” as a lump category.
- A more in depth guide to pricing.
- Here is a post from Magweno which does a good job of summing up all the “hidden” costs in crafting. It also includes a discussion on whether the perceived value of art should be taken into consideration. It doesn’t even take into account sales, self employment, or income taxes. 15% of my income alone goes to self employment tax. 15-30% (depending on how much I made that year) will go to income tax.
- If you want to spend some money to learn, there is an entire book on ethical pricing.
- Another blog post from Mill Girl who writes further on what goes into pricing, arts and crafts as a luxury item, what you support when you purchase handmade, and who/what you harm when you devalue handmade.
- A tumblr post which highlights the pitfalls of people who undervalue art and their negative impact on the entire art community. This includes both artists undervaluing themselves and clients undervaluing artists.
- Here’s an article on pricing as a freelancer and industry standards. For the record I consider myself under the category “Someone with a few years of experience and a good portfolio: $50 - $85+/hr.” I can promise I am charging nowhere near $50 an hour, and close to $25 since I supplement my income with “passive income” from pattern sales.
And that is just a few of the resources out there available. I sincerely hope you will read them and stop spreading negative attitudes on pricing.
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5 Top Entrepreneurs’ Best Advice For Staying Ahead In 2017 Words of wisdom from people who’ve made it big.
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Leaders are readers.
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T-minus 1 week until the launch of our new collection, BOTANICAL! See all the new colors on April 15th at noochfiber.com !
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Donut Shaped Yogurt Popsicles Source: Aww, Sam Where food lovers unite.
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The core of Elsevier’s operation is in scientific journals, the weekly or monthly publications in which scientists share their results. Despite the narrow audience, scientific publishing is a remarkably big business. With total global revenues of more than £19bn, it weighs in somewhere between the recording and the film industries in size, but it is far more profitable. In 2010, Elsevier’s scientific publishing arm reported profits of £724m on just over £2bn in revenue. It was a 36% margin – higher than Apple, Google, or Amazon posted that year.
But Elsevier’s business model seemed a truly puzzling thing. In order to make money, a traditional publisher – say, a magazine – first has to cover a multitude of costs: it pays writers for the articles; it employs editors to commission, shape and check the articles; and it pays to distribute the finished product to subscribers and retailers. All of this is expensive, and successful magazines typically make profits of around 12-15%.
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In older posts, we learned about how widespread e-commerce has become. On a global scale, it is safe to say that you can find an e-commerce startup virtually all over the world. This scary fact comes with its merits and demerits. First of all, this means that more people will be prone to patronize online stores, which translates to a wider range of potential customers for you. However, on the negative side, it then becomes fairly easy for upcoming e-commerce businesses to get stuck in the sheep zone; copying those that have gone before them and making the same mistakes.
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elise + thumbs up (part three)