Bag No. 2 and advice please.

This is my 2nd bag:  Going Dotty!  It's the same design as the owl bag 'cause a) I like the pattern and b) I'm keeping the owl bag.  Not great pics again, it's a nightmare trying to photograph the lining!!!!





The bag is a lovely size.  18 inches across the top and 13 inches deep.  I've costed the materials that I used.

Fabric #1 .........................4.00
Fabric #2..........................2.00
Fabric #3..........................2.00
Interfacing........................1.40
Fusible fleece....................3.88
Magnetic snap...................0.50
Button..............................0.30
Thread.............................1.00

Total..............................15.08

At that price the Etsy and Paypal fees, give or take, (4% + 15p) and 4% would be £1.35, giving a total cost for the bag of £16.33. But, I obviously want to make a profit. People say you should at least double the cost, but I'm darned if I'd pay nearly £33 for a home made bag. What should I sell for? What would you be willing to pay for a well made, unique bag?

The bags on Etsy certainly aren't cheap so I was wondering about maybe between £22.50 and £25 and obviously the fees would be a little more, but still not prohibitive.

Thoughts girls, please.

You should also cost things like electricity to run the machine, wear and tear on the machine, postage on the materials if you haven't included that in the cost, and probably other things which I can't think of at the moment. Love the bag!

You're probably right that people wouldn't pay £33 for the bag: not sure what you should charge. Under £25 [u]feels[u] better, if you know what I mean.

Lynda

Lovely bag and its not home made its hand crafted, about £25 sounds good.

I bought a bag for £25 the other week and yours is as good if not better so yep £25

There's a lady on the popular patchwork forum that sells satchels ( about a4 sized) as fast as she can make them, and they're £30.

Cheers girls.   
Tina, that's worth knowing 'cause I've got a satchel pattern in front of me right now.

Another lovely bag Lorraine I'd pay £25 for something like this. It's difficult calculating your costs of everything though as we forget the little bits like electricity etc.

It's not that I forgot Cath, and I know you're probably right Lynda, but the fact is, it's impossible. You'd price yourself out of the market. Even on a minimum hourly wage, you're looking at nigh on £100 for the hours taken to make these, never mind the leccy and wear and tear. I suppose it's just something we have to live with, but to be honest, I'm more than happy to recover my material costs with a bit for me. Actually selling one is the first hurdle though, lol.

Yes, I know: very difficult to calculate the additional costs, but you must make sure there's some sort of allowance for them, ie don't pare margins down to next to nothing, otherwise you'll actually be making a loss.

I guess the trick is to see what others are charging for similar items and take just a tiny bit off that so you've got the edge.

Lynda

There's a huge debate on the lamp working forums about pricing, and it evokes high emotions as some people make a living, others just pocket money. They would all say 'don't undersell' your product, as it implies that it's of somehow inferior quality. Will have a look later and see if I can see any more prices for you.

Claire at Clasibags used to make fabric bags as well as felt ones, worth a look I think?

Cheers Tina. About £25 sounds right then. Her messenger size bags are £27.

Lovely bag and never under price, you sell less because folks think it must be inferior. I will also have to point out things do sell better if they can state that they come from a smoke
free home. So if you can keep them away from any ciggies that will help. Its just how it is, I'm not having a dig. I know lots of people who wont buy if it doesn't state that, DH hates it when things turn up smelling of fags but will buy and then air the thing he has bought. So you could be cutting your numbers of buyers. Also have you thought up a lable for on them, when you are famous they sell for more.  
Good luck with selling them cos they look great.

I don't' smoke in the house Alison. They'll be sold as from a hairy pet and smoke free home.

On that note, how is my handbag doing?   

 

As above, yes looks well worth £25 and when you look at what mass produced craft totes go for it's a bargain. Lovely work.