Which crochet items can make you the MOST money? Pricing calculator & configuring profit margins!
Vložit
- čas přidán 29. 04. 2024
- In this video I show how I track material costs in a pricing calculator to figure out which crochet items can give you the BIGGEST bang for your buck!
Pricing Calculator: www.etsy.com/listing/15879386...
Flamingo pattern: www.etsy.com/listing/16837262...
Turtle pattern: www.etsy.com/listing/14147973...
Sparkly eyes: amzn.to/4dk4JGE
Scale: amzn.to/44ocUxr
Find more plushie/display supplies in my Amazon shop:www.amazon.com/shop/madebymandamal
More from me:
My Etsy: www.etsy.com/shop/madebymandamal
Watch more vids on my channel: / @madebymandamal
Follow me on Tiktok: www.tiktok.com/ @MadebyMandaMal
Follow me on Instagram: / madebymandamal
Follow me on Facebook: / madebymandamal
I made a jumbo sized elephant and materials were over$100. I ended up taking it to my markets... she pulled people into my booth like crazy! I priced her at $300.00 and figured it wouldn't sell but it still served a purpose in bringing in customers. Well at my 3rd show it sold! I was almost sad but I know I can remake her ( I named her Cinny ) I definitely will remake her because she increased my market customers! So I recommend making one huge item and over price it with out guilt because it will do the work for you by pulling people in to end up buying smaller items❤
Omg I love that so much!! I’m so happy cinny found a home! I get really emotionally attached to my stuff too. Especially the bigger items that I put a lot of time and money into🥹 but I guess they end up paying for themselves even if they’re just attracting customers and I’d rather sell them for what they’re worth than sell them too cheap so thank you for the advice and thanks for watching!💕
I’m so glad you made this step in your business! We started doing it two years ago and after reading many books and watching other small businesses grow, this is actually a very crucial step. Knowing your profit margin, your true profit, and how to even begin tracking that is very key. There’s a lot of different ways out there in the crochet world on how to price and track profit, but this one is the most efficient, most accurate, AND you can start developing a better sense on your profit per each skein you buy. I literally can’t imagine running my business any other way now because there are so many unknown costs that float around if you don’t! Thank you for the video, keep on doing you and good luck to your business!
I love to hear that! Thank you so much for the encouraging words!! I’m excited to know more about how far skeins will get me. Good luck with your business as well!!
i found this quite fascinating, actually! like you, i'm not really interested in doing this step but i can absolutely see the advantages. honestly, it amazes me when i hear that people at markets comment on prices (i've never had that issue but i'm also scary looking haha); i've always found your prices to be extremely fairly priced. your work is SO lovely; just keep on doing what makes you happy!
Thank you so much for the kind words that means a lot🥹💕 thanks for watching!!
Thank you! I do think you should up the price of that beautiful flamingo, looks around at least 80$ 😍
thank you so much🥹 I definitely get a little nervous pricing my bigger items but maybe I should charge a bit more to get those profit margins up!!
Same thought. I’m shocked that the hours you worked on it weren’t more. Same pattern but I find jumbo yarn more tiring and awkward to work with.
This was very helpful. I never understood how to figure it out. Thank you.
So happy it was helpful for you! Thanks so much for watching!!
So interesting! I’m terrible at math and numbers and you broke it down so easily, thank you!
It’s so nice when the calcs just do it for you😂 so happy you found it helpful! Thanks for watching!!
Very informative. Thanks for sharing!
Of course!! Thanks for watching!💕
Very interesting…especially the info on profit margins.😳
RIGHT??? I was shocked!! Thanks for watching!💕
Love this. I'd pay top dollar for the piece shown at 15:30.
wow thank you so much for appreciating my art. thanks for watching!!🥹
Thank you so much for all your videos. They are inspiring and very helpful!
So happy you find them helpful!! Thanks so much for watching!💕
This was so helpful. Thank you!
Of course!! Thanks so much for watching!!
Hooray!!!
💕💕💕
Woah thanks for all this info! I'm way too lazy to weigh my yarn but maybe one day ill be convinced like you haha Cant't wait for the next video for your true profits! Also your jumbo plushies may not be that profitable but they are super adorable!!
that means a lot thank you so much🥹 the cool thing about weighing out the materials if you make a lot of the same stuff with the same yarn you only really have to do the weighing once which is nice!! (that’s what I keep telling myself😅)
Great video! I have a pricing calculator that I purchased last year but haven’t used lol. Definitely inspiring me to use it. What hook size did you used for your flamingo? She is cute!! I’m going to purchased those eyes from your link. Thanks!!
Thank you! Deff recommend the pricing calculator! If you make the same stuff with the same yarn a lot you really only have to go through the pricing process once which is nice😂 I used a size 10 hook on the flamingo!! Thanks so much for watching!💕
Did you consider raising the price of anything that had a low profit margin? I think that is my hardest thing to figure out when making larger plushies, especially. Did you put the price in for the item or did that calculate based on your hourly rate? Thanks so much for doing this video, it was very helpful!
So happy it was helpful for you!! There’s a field that gives you a calculated price based on materials/hourly rate and then a field for you to manually put in what your actual price would be. I did play around with my actual prices a bit but it didn’t significantly improve the profit margins for the bigger items and I feel like people are only willing to pay so much for them ya know. it’s hard😂
Very enlightening. You did the hard work for everyone. Thank you for that. I absolutely love that flamingo!!!
@@camillescrochet777 thank you so much for the kind words and for watching!!💕
I’ve made magic rings with worsted weight yarn for the last couple of projects I’ve made with jumbo yarn. It’s tricky to figure out how to hold it at first but it works well and the jumbo yarn hides the smaller yarn easily. Might be worth a try!
I always use worsted weight at the end to stitch up! I never thought about using it for the magic ring!! Thank you for the tip!!
An easier way to see how much polyfill you use is by weighing the finished product and subtracting the yarn that was used. ie. Finished turtle weighs 250g and used 150g yarn, so that means 100g polyfill was used
I was thinkin about doing it like that!! The only reason I didn’t do it was because I’d have to weigh the eyes too and I just didn’t feel like it😂 do you weigh the eyes?
@@MadebyMandaMal yeah thats true, but I guess you could weigh the eyes before and take that off the total too?
wondering do i have to weigh the yarn and the stuffing? i already have a pricing system in my head but i wanna see how much i have in inventory without adding it all up manually
Mine are different prices per gram for the stuffing and yarn so I weighed mine separately to get a more accurate amount!
Or use left over yarn from blankets wich then bring cost down to 0 because the price of the spool in in the blanket
To stuff?? I definitely try to do that with my smaller items for sure! Nice little hack to save some cash moneyyyy!!
Could you lower the price of wool? discounts, sales, bulk?
Yes I usually always buy on sale! The sales are usually different so I rounded up for my material costs. I’d consider buying bulk in the future I just have no where to put all my yarn😅
I don't see how I can figure out in grams how much yarn of a particular color I used
You weigh all the colors separately in the process I showed and then add together how much you used of each color at the end! That’s what I’ve been doing!
@@MadebyMandaMal I'm sorry, I was on the subway watching your video and I froze. And then I saw that you explained how to weigh the yarn. Thank you so much for your video! Very helpful!
@@crochebyfoxy of course! Thanks so much for watching!!
Ahhh this was such an interesting and informative video! Thanks so much! So ironic too as I literally am currently making a video of me crocheting with size 10 hook and I’m used to a 3 bahahaha it’s gunna be funny cuz man I struggled lol then today I couldn’t believe how expensive big ass yarn is and totally questioned if worth it cuz takes so much yarn.
I’m still in practice mode so haven’t done a market yet but I loved this video. ❤
Thank you so much for watching!! I love using bigger hooks but I agree… the PRICES ARE WILD for not even that much yarn😅