Through tedious practice and overloading your brain with the creative process, you have significantly improved your bead-making skills. Moreover, it’s not only you who noticed your skill improvement, but others as well. Somehow, you gained the confidence to sell your bead creations online or even the local jewelry store.
However, you stumble upon a problem, and that problem is how you’re going to price your jewelry. Pricing poses a problem since you need to earn a justifiable amount of money for your labor and creativity—but don’t want to scare customers away because of the price. Check out some of the tips below in pricing your bead jewelry to help you a little.
1. How Much Did It Cost To Purchase the Beads and Supplies?
If you do plan to have a long and enduring business by selling bead jewelry then it’s of paramount importance that you add the expenses of your beads and supplies to the selling price. Keep the receipts so you can have some sort of reference when you’re purchasing another set of supplies.
Also, be up-to-date with the prices since the cost of the beads and materials might increase or decrease. Raising the price a bit is okay since you do need to earn. Example: You spent 15$ on purchasing the supplies and beads so ideally, you multiply the overall cost by 2 so the selling price is 30$ plus the price paid for your labor and your bead-making skills.
2. Your Labor and Creativity
The difference maker when selling bead jewelry is the experience and artistry you apply to your beadwork. 15$ per hour is pretty standard for starting bead artists. So if we take the previous example which is the bead and supply selling price which is 30$, you will add 15$/hr for the total price. Presumably you spent one hour in making the bead piece.
However if you’re more of a seasoned beader then you can ask for more, just negotiate with the shop or directly to the customer to have a more detailed deal. Furthermore, there are other factors involved such as the difficulty of the beadwork project.
3. Selling Strategy
You finally started to sell your bead pieces and you’re confident that it will sell. Sometimes the problem is that it’s not only you who is selling the beads, you also have competitors. What will separate you from your competitors is your unique selling point, or in other words "Why people should buy your beads".
One of the strategies you can use is to create some samples or freebie beads to your customers. This is a great way for you to showcase what you can do and make your store or booth unique thanks to the freebies. Your freebies shouldn’t be overcomplicated. Simple but eye-catching bead pieces are quite enough for giveaways. It might take more effort but it’s totally worth it, especially if you’re still starting in selling your bead jewelry.