For new business owners there is perhaps no greater challenge than pricing products for sale. My wife and I ponder this each time I complete a new product. Based upon a thousand different factors we each arrive at a figure and then we yield to one another to determine a final price. What are the factors? 1. Data alone (materials, equipment, supplies) : how much did the wood cost? What about the glue? The clamps? How about the table saw and miter saw; and the saw blades on each? The more equipment we own the less time it takes to make a product, and the better the product will turn out; but how do you price this out? 2. Governmental cost (keepin it...
It's Fall.........officially.....and as we eye our calendars most of us are filled with a sense of invigoration this time of year brings ,coupled with a vague sense that things are about to get a "little bit crazy". The Holidays are careening toward us ,causing us to long to savor a few of the crisp, nostalgic days of Fall that hint at promises of football games, chilly nights, pumpkin pie and apple cider. Here in the South Fall is a fickle thing... teasing us with crisp days here and there, then sending the temperature back up into the 80s to remind us that perhaps it's a little premature to be packing away the shorts and breaking out the sweaters. But we live for those...
For the past 6 months we have had our products on display at a local retail marketplace with mixed success. The upside has been the compliments we’ve received on the design of our space (thank my wife), the maximum usage of that space (again, my wife’s doing) and finally the beauty and quality of our products (drumroll please..... the carpenter’s kudos). Whether receiving input directly from customers or indirectly through other vendors and/or employees; our product line has been praised for being both unique and of superior workmanship. We have been very appreciative of the feedback Unfortunately, with the upside there often comes a downside; and that has been sales. We opened our space in January so we were expectant of the...
