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March 3, 2014

Excel:  cost your project out so that you can make a profit

Regardless of what  you’re selling, it is important that you know how to make it profitable!  This doesn’t guarantee it will sell.  When you sell the item, you’ll definitely make a profit.

This tutorial shows people how to cost a project out for any type of craft project (jewelry, art, paintings, needlework) so that they will realize what they’re actually making per hour. This video is offered as a supplement to continuing education classes that are being taught where the student needs to learn how much (or how little) they are making. This can be done with a calculator…one needs to have an understanding of logic and math principles to do this.

This means understanding all the costs involved including materials, time, travel time/cost, time to sell. Not all factors are included – you will have to consider marketing costs, hiring of others to sell your item, commissions that may be paid, entry fees to art festivals, and much more. Many artisans do this for the love of their craft and the joy they get from meeting others who appreciate their crafts.

 

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From → Excel

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