Why you Aren't Making a Profit; How to Price Handmade Items
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- čas přidán 1. 07. 2024
- How to make a Profit Selling Homemade Items. How to Price your Homemade Goods to make a Profit. Why Small Businesses Don't Make a Profit. Formula To Price Homemade Items. Selling Skincare Products
FORMULATION;
(supplies + labor) x 2 + overhead = wholesale x 2 = retail
VIDEOS I MENTIONED;
▸ How to Calculate Cost of Material - bit.ly/2Q4cLeD
▸ Etsy Fee's Explained - bit.ly/2K5ZWwo
Patreon Shout Outs
▸ MusicalMoodRing - Instagram - @StardustBathandBody www.stardustbathandbody.com/
▸ Natures Farm Girl - naturesfarmgirl.com/
▸ Kennedi's Essentials - kennedisessentials.net/
Kennedi's Essentials Review - • TaraLee Reviews; Kenne...
▸ LettsBlend - lettsblendllc.com
Instagram - @ LettsBlend
LettsBlend Review - bit.ly/2ExaHFM
▸ Rhys Porter / Creativy Wyth Lovy - creativywythlovy.me/
▸ WallFlower WildFlower - www.wallflowerwildflower.com/
▸ Heartfelt Beauty - bit.ly/2JJZkNw
▸ Sugared_Pineapple - bit.ly/2MhTVje
▸ KAJ Bath and Body - etsy.me/2YVRPeI
▸ Blue Mint Soaps - bluemintsoaps.com/
▸ Cetera - bit.ly/2ZySB1j
▸ Patreon - / taraleee
OUTRO SONG
ARTIST ▸ Scotty Weber - bit.ly/2gTlD77
SONG NAME ▸ Savior - bit.ly/2DjqFna
SOCIAL MEDIA
♥ Instagram - @TaraLeeSkincare
SHOP MY ETSY
♥ etsy.me/2oJiLLJ
▸ If you have formulating questions please send them to...
▸ AskTaraLee@gmail.com
▸ Your question may be featured on my next Q&A
Business Inquiries - TaraLeeSkincare@gmail.com
I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. - Jak na to + styl
I believe, Never Allow another person's budget determine your prices.
so true!
Tessie Dobey I agree a disagree cuz if they can find a cheaper price they r hooked in
Kind of inconsiderate towards your clients?🤔
@@peacheskong2245 if you think about it's not really because you are buying the materials and Spending your time making it and it wouldn't be fair to yourself to charge way to less than how much it took to make the item because then you would be cheating your own self out of the hard work you did.
Tessie Dobey my mama says the same thing!
Thanks Tara!!! Your videos are really helping me especially with pricing and preparation.
I really love your channel! So genuine and informative!I always learn something new.
I made liquid Castile soap tonight! I can’t wait til morning to see what it looks like! Thanks for your tutorials! Yours is the best I have found.
You always come through with great content. You're amazing! We are launching our product on Saturday and have been watching your videos long before we started. Keep going with the great content, it's appreciated! ~Chyna
You are so sweet and very Genius!! Thank you so much for making life easier for so many new entrepreneurs out there who have just started out and looking for these tips and advice. Thank you
Great information Tara! Thank you SO much!
I'm actually working on opening my etsy and I was so lost about pricings and fees... and i found your videos and omg it helped me so much! Tysm!!
ABSOLUTELY WONDERFUL! Thanks Lady T!
You are a LIFESAVER!!! I want you to know that I sincerely appreciate your videos, and willingness to share your knowledge. I am trying to learn as much as possible as I start my small business. You are amazing! Thank you so much!
Thank you Tara for this video!. I really love your videos, there is always something to lean, thanks :)
Thankyou Tara Lee for this detailed and informative video. I am soon going to start my handmade soap and lip balm business. After watching your video things are clear for me now about how to price the product. Thank you once again
Super informative!!! Thank you for the breakdown!
Thank you so much for your formulation! It's overwhelming but VERY necessary.
Another great video! Thanks for sharing❤️
Omg it was totally kismet that you posted this today. I'm pricing today for my first etsy biz. Thank youuu
Your doing a great job. Your videos are easy to understand & quite helpful. Thank You. :)
Just found this channel. You're such an inspirational!
Thank you so much Tara ❤️ I was thinking to start my Cosmetic Business and searching for proper guide then I came to your video nd I realized I'm on right place.... I am watching ur all videos and gonna make my brand soon....
A big fan from Tunisia TN
You made that so simple to understand! Thank you so much!
Great info. I’m about to binge watch your videos
good work TaraLee thanks for a great insight
I needed this video ❤️ I can’t believe I didn’t come across your videos last year
Thank you Tara for your great knowledge sharing..Love from Malaysia.
Awesome job on doing skin care products and good video on handmade goods
Thank you so much this was very helpful!!!
This information is gold! Thx
Have been seeking on Etsy for a year now and I really needed this thanks
This is very helpful, thanks for sharing xx
I'm so happy you found it helpful! :)
Love this vieo I really found it very helpful!
This is so helpful. Thank you
This is very informative, thank you. And your cat is super cute😍
Very informative, thanks.
Thanks for the great info, Love Your cat 🐈❤️
Omg! Your god sent. I’m getting ready to launch my lip gloss business and this was the last step I needed. Thank you sooo much for sharing. You rock!!
so glad i was able to help :)
Hope it's going great
Thank you. Starting my business now
Thank you Tara. God bless you
Thank you very much! I was looking for this info for a long timeeeeee
I'm so glad you found my video helpful :)
@@TaraLeee I Love you Tara
OMG ! THANK YOU , THANK YOU ! So much for making this video. I too make homemade products, and I didn't know how to price them. Who do you recommend for a organic soap supplier that does not use glycerin or vegetable oil?
I found your channel today and I am hooked.
Thanks very informative.
Thank you dear that was useful ❤❤❤❤
Great information! I am starting off my business what number should I be putting in for my overhead cost? This is all new to me.
You're the best I love you !! Thank You so much!!!
This was so helpful. I had been doing cost to make item and then adding it what I wanted my profit margin to be. I wasn’t adding in overhead or labor, or considering wholesalers retail. I went back to my first year and my overhead was high bc of equipment, so when I divided it by products sold, it was $7.20 per product! Seems like way too much to add on. I know this year will be lower, but it will still be high as I am still investing. Very glad I found your channel.
Can u help me understand the labor part if u don't mind me asking
@@secretbeautes1 what don’t you understand? maybe i can help
New subscriber! This is very helpful!! What’s your background?
I am hooked thanks i just started and I was hang up on price
throughout great... & last 2 mins awesome
Thanks this was very helpful! I am wanting to start a coffee body scrub business and need all the information I can get.
This is such a great video! I’ve watched it twice now, I’m a new business owner (soap and stuffs) and don’t have a year or 2 to calculate overhead, how would I factor that in now so I wouldn’t have to raise my prices later? Thanks, appreciate you :)
thank this helped a lot
Hi Tara thank you so much for your video very helpful. but how do you calculate the supply cost that you came up with $1.50 can you please show me
Wooooww golden information
Fantastic thank you
Super cool video!
Hi Tara! I know I'm a little late to getting to this video, but I'm confused a bit. I'm just starting out, I gave myself an overhead cost of 150 for the rest of this year, but I haven't sold any items yet, although I plan to in late November. Should I do the formula for finding the overhead expenses based on what I plan to sell or hold off for now because I haven't sold anything. I want to have accurate pricing but I also don't want to base it off numbers that could still potentially change. Looking forward to hearing back from you!
Great video. That said, every business will have their own unique formula. For example, a high-end company using this formula may destroy their brand if the price comes out too low.
Hello your videos are amazing and right on time. I do have a question regarding oils, being im just starting out when it comes to oils(carrier) does it matter if they are "kitchen" type oils(from grocery store) vs actual cosmetic type oils(from a cosmetic website)? I have used Grapeseed oil by the pompeian brand which i get a 24oz for roughly 5.00 or so but have also been looking into ones on websites.
Really very useful.... I'm an indian bt i don't have any Indian youtubers making videos on these topics. Thanku so much for this..🙂
I don’t know how I found this channel ❤ This is my sign that God really wants me to start my business. This channel is Gold 😊 Your a blessing
Hey Tara ! I like your video. Take love from Bangladesh.
Hi Tara, is the equipment that's used to make the product considered supplies or overhead?
Hi Tara thank you so much. My only questions is - As a beginner, I am struggling to calculate the price of one item that I make as I have bought a whole load of items! One of them would determine how many pots I will get but the others would last over a long period of time.for a long time.
I am very grateful for you and your videos. You are truly a blessing. I am in the process of starting my own skin care business. I have yet to start a youtube channel. How did you get started here and what was your challenges?
good luck to you!
Thank you
love this
What brands do you recommend for unrefined wholesale carrier oils ?
Very helpful. I charge a price I'm happy with...even though some potential customers may think my products prices are high - they take a lot of time to make. Each item is handmade. We have to make sure we put our products infront of the right buyer and show buyers why they 'need' our products. Thanks for the Etsy calculator x
Totally true!! handmade products take a lot of time and patience. Glad you found my video helpful :)
how did you calculate your overhead cost in the very beginning of your business? I am about to launch my business next month so I have no idea how many items I will sell in my first year.
Life saver 🙏🏽
I just started so I have to go through the cost so far. Haven’t gotten to the boxes and bubble wrap yet.
Thank you ! And where did you say i can get a paper copy from you 🧡
I am making origami scrapbook kinda journal of everything you say and that blog. that taught you
I created my own hair growth formula but ofcourse there are only a million hair growth products on the market. As a bald man for nearly 20 years I know the majority of them are expensive and don’t work. But I have been using mine on myself so I know it works
Thank you so much, do you consider each empty jar or plastic container in the supplies or in the overhead?
suppliers. goes into the cost of item
What a good idea
Good on you
If we don’t have an overhead fee yet what do you recommend we put in place for that number to start?
Thanks
You are Godsend! xxx
Love love love ❤️ Lots of love to you 🙂
lots of love to you!!
@@TaraLeee did you paint your nails White
@@TaraLeee much Love to you 💛💙💜💚❤💖🖤💘
This is useful. Even though I don’t have a handmade business
Oh TaraLee
Amazing thank you so much I’m in Australia and our postage is huge but I’ve been seriously undercutting myself here this has been a fabulous video!
I have emailed you and hope to get a reply soon
I somehow accidentally found your video (the body oil recipe one) and at first you catched me with your vibe (unicorn vibes) but yeah after I watched that video I was like wow she's the real deal. Like your contents, I know these clips quite old now but hey how are you doing?
Thank you teraa for inspiring me but I can't do shampoo it cost me too much difference in currency plus shipping :(
Quick question . When I make a sale do I pay myself just the labor cost and put back the supply and overhead coat back in this business ?
Thanks..before watching this I was so confused
How would you use the formula if you’re just starting out and can’t calculate overhead ? Can i still use the same formula eliminating the overhead part?
How should you price the carrier oils, and essential oils per product stuff like that ?
How do you make your distilled water ? Do you buy or make it
Thank u Tara.. this is so helpful 😘
Thank youuuuuuuuuuu soooooooooo muchhhhhhhhhhhhh I love you
OK, so, I've done my calculations, and it says I'll need to charge £7.53 for my lip balms. I need feedback. Does that seem too high? For lip balm?
Thank you Tara lee
Can you teach me formulation by training course
If i havent been in business for a year yet how would i calculate overhead? Or would i leave that out for now?
How do you adjust you prices when you've already started low and now you need to raise the price?
Hi, what I do is slightly update the product (maybe packaging or add another ingredient) and reintroduce it with the new prices. I usually wait until the older one is sold out so there are no price clashes. Hope this helps!
Do I include the shipping with the supply cost?
Where do you learn making skincare products?
How can you determine if you didn’t use the entire item for instance, if I purchase a 4oz tea tree bottle and only use 3tbsp, how do I calculate that?
Tara is awesome!!
What type of laptop/Brand are you using