How do you price MP?

[chlobue]

Just curious, of those that sell their MP masterpieces do you charge by the ounce??

chris

 

[Tabitha]

the US standard for all hanedmade items is cost=overhead x2 for wholesale or x4 for retail.

It's not a law, but is the standard.

 

[sygrid]

I agree with Tabitha, you have to have a bottom line and stick to it based on cold hard raw mats and labour. If you've read any of my posts I am hard core advocate for not selling your efforts short.

Aside from calculating the cost and what the SR (suggested retail) should be, I have found that if you have a popular pattern or something that is trendy and in the moment, you have the option to charge more. I have mp bars in my store that range from 6.95 to $20.00
They range from 4 - 8 oz. Some have more detail some have less. It depends on the appearance of the bars.

These pics are cp bars with mp flowers but I do the same bars all mp. The first bars are 6.95 ea in mp. The Bloomia Bar is 8.95. If I do the Bloomia bar in an 8 oz sphere rather than a 4oz bar the sphere bar is $15.00/bar.

Now before you scream foul, here is the reality.

If you are buying a bar for yourself maybe you would not buy one of these bars at 8 - 20 dollars, but there are customers out there that ..to feel good about their gift purchase have to spend more than 5 bucks. I had beautiful highly decorated 2-3 oz bars that were iced like little cakes. $4.00 /bar. People stood and looked at them, ooohed and ahhhhed over them and then walked away from them, didn't buy. I thought I was going to have to throw them out.

Then I put the price up to $15.00. I sold them all. $15.00 is a feel good dollar spent on a gift. And that is the market that bought them. The customers that bought these bars didn't want 3 for $15.00. They wanted one bar that was special.

If you price your soap too cheaply there are some customers that will view it as having little value, nothing special.

It's not always about quantity or what's the cheapest and I am not suggesting that all your bars have to be higher in price, but you are missing a market that 'wants' a higher one item 'gift' if you don't at least offer it to them. Have you any pics of your soap you can share?
I'd love to see them.
Sygrid

 

[kahea2018]

Thank You So Much

I am about to start a business and I was wondering about that. The way you expressed your answer was so brilliant and I think you are absolutley right and I am going to consider that when I am pricing my soaps. Especially the ones that are custom made.

 

[jcso339]

Thanks sygrid for your input on pricing. I have never seen it put that way or even considered pricing like that. Your idea is going to have to be used by me. Thank you!

There is a soap company based out of Austin that has a set price for all their soaps. Each bar of soap is $5.50 and weighs 4.5 oz each. I was going to base my prices similar to this since my bars are the same approximate weight. Is this not a good idea?

 

[llineb]

the US standard for all hanedmade items is cost=overhead x2 for wholesale or x4 for retail.

It's not a law, but is the standard.

thanks tabitha.....i have been wondering how to price wholesale and have never come across this. thank you!!!!!
lara