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Pricing advice

Posted by on Nov. 4, 2014 at 1:25 PM
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I currently price my fabric coaster sets at $10 for a set of 4. I factor in supplies at full price, an hourly wage and round up to the nearest multiple of 5. I do sell a decent amount and get many compliments, but I'm wondering if I should be raising the price a little bit and that would increase sales? Or maybe I should I change sets to be of 8 coasters and change the price to reflect the larger amount?
When I had the idea to start selling them in my shop, I tried searching for similar items and seeing the average price, but I was only finding crocheted and knitted coasters, and that's not really the same item. Same purpose, but not comparable enough because it's a different skill. Kwim?
Eta: I make the coasters from a combination of new and upcycled materials. But pricing is calculated on if I need to buy all materials new from Joann or other fabric store.
by on Nov. 4, 2014 at 1:25 PM
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