🧵 Finding the Right Pricing Strategy for Handmade Crochet Items

Yesterday, I had an insightful conversation with a friend about something many handmade business owners struggle with—pricing. When it comes to my crochet items, I usually base my pricing on $15 per hour plus the cost of supplies. That method reflects the time, effort, and skill it takes to create custom crochet pieces. However, I’ve noticed that pricing this way can sometimes make my items seem too expensive for potential customers, especially when the item takes several hours to complete. During our chat, I also mentioned that some handmade sellers use a simple formula: 3 times the cost of materials. While this may seem easier, I’ve always found that approach doesn’t take into account the hours of work and craftsmanship involved. That’s when my friend suggested another idea: charging 5 times the cost of supplies. At first, I wasn’t sure—but the more I think about it, the more it makes sense. This method could help me balance affordability with fair compensation for my time and skills. Before making any changes to my pricing structure, I plan to do some research on handmade pricing strategies and how other crochet business owners handle this. It’s important that my prices reflect the value and care that goes into each item while remaining accessible to my amazing customers. If you’re also a handmade seller or small business owner, how do you price your items? I’d love to hear your thoughts! Stay tuned—I’ll share more once I’ve done my research and made a decision.