View Single Post
Old 12-26-2012, 07:15 AM
  #64  
GammaLou
Senior Member
 
GammaLou's Avatar
 
Join Date: Apr 2010
Location: West Michigan
Posts: 533
Default

Originally Posted by nance-ell View Post
$150 sounds really low to me. However, you have consider your market. What kind of customer comes to the shop? Is the shop in an affluent area where price isn't an obstacle for her customers? I would probably put a higher price... even as high as $300 (rule of thumb - double your material cost) and if a after numerous attempts to close a sale, no one bites, your MIL could discount 20 or 25%. Buyers always love buying an item "on sale". It's just psychology! In the end, your customers will drive the price point you can reach ... then you can decide if it's worth your effort. Good luck to your MIL... I envision myself doing something similar in about 10-15 years :-)
I agree. You should double your costs and $300 is not unreasonable. Hopefully it will sell in your area!
GammaLou is offline