Pricing knits to sell can be dilemma-inducing!
Yes, there are so many ways to do this and you need to be aware of your intention for selling in the first place too.
Is this a side hobby that you have no intention of expanding at any point; it's just a bit of fun that you enjoy outside working 9-5?
Is this your dream and you'd like to build it up into a full-time business, that pays your mortgage and buys you massages and manicures twice every month? (we need to keep those knitting hands supple and ready for anything!)
I'll give you a few first points in the video, to help you price your knits.
How much does knitting yarn cost?
I like to think about this as replacement cost, not original cost. Are you knitting from 3 balls of yarn that you've had in your stash for five years, that cost you nothing as your neighbour gave it to you when she was decluttering?
If so, realise that you'll profit, by knitting and selling, but you'll also do two things:
- You'll fail to cover the cost of yarn to knit the next item that uses a similar 3 balls of yarn.
- And you'll give your customer an expectation for the next time they want to buy something for you. They'll expect to not be paying a higher price as you've been generous with their first purchase.
And find all those hidden costs as well.
Watch the video to find out all the costs that you may not even realise are there.
They'll seem like petty cash, but all those small things that support your hobby or business will add up and you may well end up resenting knitting to sell.
For full videos on pricing your knits, sign up to the email list here and receive free access to videos sharing more details.