Pinwheel earrings
Originally uploaded by novadesigns by tess
So I was contacted by uncommon goods about a possible wholesale order. Very exciting but also very scary...
For the first time I really realized that I needed to go over my pricing and make sure that I could offer wholesale without giving my jewelry away for free.
I downloaded Chris Parry's fantastic pricing excel sheet (available on his blog) and started typing in the cost of material, time spent etc.. And guess what. It turns out I have been selling pretty much at wholesale prices. Which I sort of already knew but it's still very eye opening when you see what you should be selling at to make a profit.
As you all know it is my goal to do this full time so I have started the process over going over each of my designs to adjust the pricing so that I would be able to offer them wholesale. With my pricing pretty much doubled I am sure that many of you will get a chock when you visit my Etsy shop and I apologize for that. I realize that this is something I should have been doing all along. I am working on some more designs in lower price points :o) so stay tuned.
I am also taking new photos of everything with white backgrounds for my line sheets and I've already updated those listings on Etsy. I have been in love with my colored backgrounds for quite some time but I want to try something new.. I might still go back to some colors but I definitely need to take new photos of a lot of them. Comparing the old pinwheel photo with the new, I am surprised they were selling at all!
I made a samples of pinwheel earrings, pinwheel studs, pinwheel ring and a pair of growing flowers and mailed out to uncommon goods today. So keep your fingers crossed. This is a huge opportunity and I really hope they want to work with me...
as far as novaofsweden is concerned I will continue with similar pricing as that line is not something that I can see myself doing wholesale with. It's truly my creative outlet and I want to keep it that way :o)
If anyone has any experience with wholesale, uncommon goods or pricing feel free to comment. I learn something new everyday!
have a wonderful wednesday!
love ~tess
Really exciting news Tess - I hope everything works out!
ReplyDeleteThanks Jaime. I might be getting all excited for nothing LOL I tend to get carried away easily...
ReplyDeleteYour pinwheel jewelry is amazing.
ReplyDeleteGood luck with wholesale. It's a scary endeavor and I, too, have the same qualms as you.
Oh my...congrats! (and thanks for the lead on the spreadsheet!)
ReplyDeleteThank you. It IS scary! But I think it's necessary to run a good business. At least it would mean more of a secure income.. possible... they might not wanna work with me... *bites nails*
ReplyDeletethanks! The spreadsheet rocks doesn't it?? Kind of mind blowing... The first time I used it I had to retype the numbers twice cause I thought I had screwed up somewhere along the way... LOL
It's so easy to forget to charge for everything. When you run a business you have to make sure that you can buy tools etc and I always forget that part...
Wow Tess - that sounds so exciting! I haven't had the guts to do a thorough calculation myself. Since I pay taxes in Denmark, prices will anyways have to be ridiculous compared to the american market, but I don'y yhink I can avoid doing so for much longer.
ReplyDeleteGood luck on the wholesale issue! However: I have been thinking: would you really want to sit and create say... hundreds of the same little earrings? I'd be bored to tears I fear. My cunning plan, when reaching that step is to buy somebody cheap o dod that. Alas, not that far yet to actually employ ppl ;-)