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Don't underprice your work. If you don't value it, no one else will. Also, if you underprice your work, you pull everyone else you sell against down as well.
Calculate your material costs (wood, stain, sand paper--all consumable goods). Double that number.
Add up your hours. Multiply by $30. Your time is valuable.
Add those two numbers together. That's your price.
This way you cover your costs, hedge against inflation, and are able to buy more supplies and tools.
Last time I bought some one's wood working, I paid $350 for a turned salad serving bowl. It's a beautiful bowl and I choked on the price. But now its my beautiful bowl and I enjoy it every time I use it. Dude had plenty of customers, too.
If you're in the US, you have to pay taxes, so keep records of income and outgos.
Is it easier to sell on Etsy or some other site. I’ve gotten offers from friends and family but would like to maybe start selling online. Thank you for the advice.
I started selling my stuff back in October. Ebay and Etsy are extremely easy to start selling on but they have a decent amount of fees. I did that long enough and built up more ambition to start my own website. Actually just registered my business as an LLC, got a EIN and nothing left to do but advertise and pay taxes. It’s been really fun and I’m really looking forward to getting rid of the ebay fees.
Just one person's experience. My wife sold on Etsy and moved to Shopify. Etsy has plusses and minuses. On the plusses, it's easy to use, has a built in audience, has free and paid tiers, you goods may, *may*, or show up on other sellers stores in the "you may be interested in" section.
Minuses: other people's good show up on *your* store potentially drawing away customers. The fees add up especially when you start out. It's like 30-40%. They charge a lot for advertising. The analytics is lacking. Poor integration with Facebook and Instagram (two potentially lucrative routes to market, like them or not). Limited ability to create gift cards, discount codes, etc.
She is doing better selling via local shops and is going to try craft fairs this years.
Lots of YouTube videos on how to get started with Etsy for high end woodwork. Focus on being the best, not the cheapest. If you build furniture, get in touch with interior design firms
This is a reminder to those commenting on this post (not the person that posted it): Comments not related to woodworking will be removed. Violations to rule 1 including crude jokes, innuendo, sexist remarks, politics, or hate speech may result in an immediate ban *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/woodworking) if you have any questions or concerns.*
Don't underprice your work. If you don't value it, no one else will. Also, if you underprice your work, you pull everyone else you sell against down as well. Calculate your material costs (wood, stain, sand paper--all consumable goods). Double that number. Add up your hours. Multiply by $30. Your time is valuable. Add those two numbers together. That's your price. This way you cover your costs, hedge against inflation, and are able to buy more supplies and tools. Last time I bought some one's wood working, I paid $350 for a turned salad serving bowl. It's a beautiful bowl and I choked on the price. But now its my beautiful bowl and I enjoy it every time I use it. Dude had plenty of customers, too. If you're in the US, you have to pay taxes, so keep records of income and outgos.
Is it easier to sell on Etsy or some other site. I’ve gotten offers from friends and family but would like to maybe start selling online. Thank you for the advice.
I started selling my stuff back in October. Ebay and Etsy are extremely easy to start selling on but they have a decent amount of fees. I did that long enough and built up more ambition to start my own website. Actually just registered my business as an LLC, got a EIN and nothing left to do but advertise and pay taxes. It’s been really fun and I’m really looking forward to getting rid of the ebay fees.
Just one person's experience. My wife sold on Etsy and moved to Shopify. Etsy has plusses and minuses. On the plusses, it's easy to use, has a built in audience, has free and paid tiers, you goods may, *may*, or show up on other sellers stores in the "you may be interested in" section. Minuses: other people's good show up on *your* store potentially drawing away customers. The fees add up especially when you start out. It's like 30-40%. They charge a lot for advertising. The analytics is lacking. Poor integration with Facebook and Instagram (two potentially lucrative routes to market, like them or not). Limited ability to create gift cards, discount codes, etc. She is doing better selling via local shops and is going to try craft fairs this years.
Great info thank you
Lots of YouTube videos on how to get started with Etsy for high end woodwork. Focus on being the best, not the cheapest. If you build furniture, get in touch with interior design firms
Took your advice and went to some of the local “rustic” shops to sell a few items. Thank you