Knitting For Profit: How to Price Knitted Items

Knitting For Profit

May 21

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.

To subscribe to the Knit With Hannah YouTube channel click here

How long does it take to knit a baby blanket?

Guess what? That time might be different for each person. But if you want to knit baby blankets and sell them, you need to know, not just guess how long that process takes.

Remember, you’re casting on, you’re knitting borders, you’re knitting through possibly hundreds of rows in basketweave or  cables, or intarsia sailboats. And you need to know how long that takes.

You also need to take note of the borders, the weaving in ends and blocking.

So, realise that if you’re knitting large items to sell, you need to charge a price that covers those work-hours.

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:

  1. You’ll likely not cover the cost of yarn to knit the next baby blanket.
  2. 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 lots more support and guidance in selling your knits for profit I hope you’ll join me for Profitable Knitting Secrets:

The course contains 5 modules with the secrets you need, so you can fast-track your knitting business to success. If you’d like full details click here, or you can also access the course by becoming a Plus Knitter, in the Knit With Hannah Membership, here:

(The membership will close to new Plus Knitters, on 31st May 2019, until at least September)

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