Arts & Crafts Magazine

How I Price My Toys ....

By Ellephantastic
How I price my toys ....
.....I thought I would share with you today how I price my knitted Monsters.
I spent a long time researching how to price them and looking at how much other people charge for their toys (which are often not CE tested which they should be!)
Pricing ingredients:Cost of the products: wool, stuffingUse of equipment & other: Knitting needles, scissors, electricity for lights My time: Designing the toy, knitting the toy, testing the toyCE Test: Making sure my toy is to CE standards
Now you have to decided how much you want to pay yourself an hour and any extra profit
How much do you get paid an hour?Shall we say minimum wage £7.50 per hour
The largest toy I make is Pookiechu (the pink one) she takes me 16 hours to make16 x 7.50 = 120
so that makes Pookiechu £120 before I've even added on the cost of any wool etc!
I therefore decided to pay myself a lot less and she became £65However even though I know you are paying for a quality toy made with quality products and to the CE standards her price was still to far out of some peoples reach.
I want my toys to bring people JOY. Not just children but adults too!
So I have cut my prices down even more and I am now paying myself £2.00 per hour.Some people might think I am mad but I want to HELP people  
Here are my revised pricesBooboos £32Floffles £32Boogalobie £40Pookiechu £45Tinkywink £18Whoowoo £14
(plus postage)
any questions or orders please contact me 

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