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<blockquote data-quote="trinityroyal" data-source="post: 497652" data-attributes="member: 3907"><p>When you're calculating your costs, you need to be sure to factor in ALL of them. So:</p><p>- 1/4 skein of yarn</p><p>- packing, shipping and mailing costs</p><p>- gas to get to and from stores to buy supplies (or shipping costs if you're ordering online)</p><p>- crochet needles and accessories</p><p>- and most important, YOUR TIME. You need to assume an hourly rate for your labour and factor that in to your costs. It's important to do that even if you don't pay yourself because if your business gets big enough you might have to hire someone to help you and pay them. Factor in something like $5 per hour and all of a sudden $29.99 doesn't seem like an outrageous amount of profit anymore...</p><p></p><p></p><p></p><p></p><p>I think this is a great idea. A few standard sets in a few colours, and then specialty outfits for different seasons and holidays.</p><p>I really like the idea of the diaper bag set, etc. Since your specialty is the crocheted items, I would not even bother with the rubber duckies or any other accessories like that to start with. Those can be found easily elsewhere, so they don't add value to your product line. The hand-work is what makes your business unique, so I would stick to that.</p><p></p><p>Although the matching girl-and-doll outfits sound lovely, they would be very labour intensive and would take time away from developing your main product line. If you do ever start offering custom designs, that could be a premium item for which you charge something fairly outrageous like $139.99 or even higher. People who are willing to special-order handmade crochet clothing for their children or grandchildren would easily pay that much.</p><p></p><p>PM away. Start-up is my favourite phase of launching a new business and I'm happy to help.</p><p></p><p>Trinity</p></blockquote><p></p>
[QUOTE="trinityroyal, post: 497652, member: 3907"] When you're calculating your costs, you need to be sure to factor in ALL of them. So: - 1/4 skein of yarn - packing, shipping and mailing costs - gas to get to and from stores to buy supplies (or shipping costs if you're ordering online) - crochet needles and accessories - and most important, YOUR TIME. You need to assume an hourly rate for your labour and factor that in to your costs. It's important to do that even if you don't pay yourself because if your business gets big enough you might have to hire someone to help you and pay them. Factor in something like $5 per hour and all of a sudden $29.99 doesn't seem like an outrageous amount of profit anymore... I think this is a great idea. A few standard sets in a few colours, and then specialty outfits for different seasons and holidays. I really like the idea of the diaper bag set, etc. Since your specialty is the crocheted items, I would not even bother with the rubber duckies or any other accessories like that to start with. Those can be found easily elsewhere, so they don't add value to your product line. The hand-work is what makes your business unique, so I would stick to that. Although the matching girl-and-doll outfits sound lovely, they would be very labour intensive and would take time away from developing your main product line. If you do ever start offering custom designs, that could be a premium item for which you charge something fairly outrageous like $139.99 or even higher. People who are willing to special-order handmade crochet clothing for their children or grandchildren would easily pay that much. PM away. Start-up is my favourite phase of launching a new business and I'm happy to help. Trinity [/QUOTE]
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