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Am I overpricing myself?

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  • Am I overpricing myself?

    Hi there everybody,
    I don't have much time because I am now having a stall thins Wednesday at my kids' school and it all came out quite suddenly so I am now really busy making things.
    I am concentrating on the kiddies now and I am now worrying about the prices of their necklaces. I thought of putting necklaces for sale at £2 and the ones with a nice pendants (hearts, stars, crowns...) at £2.50.
    I am now so anxious about this that I go to bed and I can't fall asleep all these things running wild in my head.
    Anyway, you all know this is going to be my first thing at anything like this and I am not sure about the prices of the kiddi necklaces. Obviously, this is about money and I want to make every penny I can, but I do not want to overprice myself and ruin my business before I get started. What do you reckon of the prices?
    Please let me know. I am sorry I don't have time for anything else I am quite busy atm, but I will be back to check on your answers (pls leave some) and I will definitely be back once my wednesday "operation" is done.
    Thanks in advance,
    Monica
    Your mind, like a parachute, works better when it's open.

  • #2
    I think your prices sound fair enough.

    I would say anything under a fiver is affordable......
    www.beadlab.com

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    • #3
      You'll probably be pleasently surprised when you see that amount of poket money the kids have.

      I sell memory wire bracelet kits for £2.50 and little elasticated plastic bead bracelets for £1.00. I also take a tumble stone mix which the kids love. I sell them at 50p a stone and it gives those with more frugle parents something to purchase.
      I'm working on some little felt pencil toppers for the next fair and I'll sell them at about 50p. they are scraps of felt and bulk buy pencils from poundland.
      full time mum and very very part time crafter.

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      • #4
        I think your prices sound really reasonable, when you think that kids have computers and mobile phones etc. etc., a couple of pounds is nothing really.
        Jayne


        "One must have chaos in oneself in order to give birth to a dancing star."

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        • #5
          I also think your prices are fine, even little children seem to have a few pounds pocket money these days. I often sell things totalling up to £3 or £4 to little ones.
          Very often mum or granny will give them an extra £1 if they like something.

          Melanie

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          • #6
            Yeah definitely the prices sound fair enough, its really hard sometimes to factor in your effort but I'd say a couple of quid sounds quite reasonable. Maybe even add 50p onto everything?

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            • #7
              Hi everybody,
              Well, I put my stall up on Wed and it definitely ended up being a learning experience. As for how I did I will have to say that from the sales point of view I did really bad, only sold one kiddie necklace at £2.50.
              I knew before I went that I wouldn't make sales on proper jewellery since nobody knew my stall was going to be there, and it was only supposed to be a cake sale to get money for Cancer Research and people would not come with money.
              BUT I got lots of compliments on my jewellery, some people were really gutted they did not have money with them and a lady said she is up for a jewellery party whenever I want.
              So, it gave me the exposure I wanted and now quite a lot of people are aware I do make jewellery.
              I also realise with heinsight (if at all spelt like that) that I did not ask enough questions and I was not provided a proper description of what was going to happen where, and ended up putting myself in a really bad location. I set it up with my limited knowledge of other stall locations in what was going to be the very middle of all of it, but since they put stalls round the courner from me I ended up being at the very end of everything.
              Anyway, learnt loads and now I got all the stock I need for the kiddies' side for my Xmas stall and I can now concentrate on my proper jewellery. So, definitely worth doing. And I was so very proud of having a stall in which everything on display was my creation!!

              Take care and happy beading,
              Monica
              Your mind, like a parachute, works better when it's open.

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              • #8
                It's good that you are looking at the positive side of the experience. As you say the kiddie jewellery will go well at school Xmas fairs, I'm sure you could have sold a whole load if people had known you were going to be there.
                www.littlebead.blogspot.com
                www.twitter.com/littlebead

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                • #9
                  That's great news about the jewellery party!! I'd call that a real result Well done you
                  Jayne


                  "One must have chaos in oneself in order to give birth to a dancing star."

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                  • #10
                    Congrats on the jewelry party. It is only a matter of time.
                    Always looking fro some nice photo frames.

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