Early 2014 we launched a pricing and organizing tool, “Jewelry Craft and Pricing Calculator.” The launch was successful, thank you 🙂 and we’ve improved the product since then so let me entice your interests by teaching you how to price your handmade jewelry using this simple but helpful and amazing tool 🙂
Let’s try to calculate and organize our supplies lists using the Bead Embellished Cross Charm. The next images are step-by-step screenshots how to use the database.
First, organize our entries for the materials lists at the inventory worksheet to create the cross charm. Here I have entered, pearls, wires and bead tips, prices, shapes, sizes and all details necessary to create an inventory. You can use your own codes for your supplies.
By entering the Quantity Purchased and Prices the Cost Per Unit is calculated. All your entries on this inventory worksheet will be stored and necessary to calculate for the other worksheets. (CLICK ON THE IMAGE FOR A LARGER VIEW. All prices are only examples)
Now, let’s calculate a product pricing for your jewelry. A simple computation would be materials used x cost per unit. From the Inventory worksheet all materials lists are stored so you simply need to choose the name of the material from a drop down list and the cost per unit will also be entered. Then enter the quantity used to create your jewelry and in seconds you’ll have your materials cost. The database is designed to auto-calculate so it’s fast to determine the total material cost. For the Bead Embellished Cross Charm Total Materials Cost is $3.0415
Of course you cannot sell your handmade jewelry by just calculating your cost of materials. You need to add your labor cost and other expenses such as packaging expenses. For your labor cost consider the number of hours and difficulty creating the piece.
Now, theTotal Cost for my Bead Embellished Cross Charm is $19.1915. If I am going to sell the piece at a retail price I will then add in an additional percentage to cover my overhead cost. As an example I added 80% for my overhead cost. For the wholesale price, this should be lesser than retail price because this is selling by bulk so I added a 40% overhead cost. You will then arrive at a suggested retail and wholesale price. 🙂
You can save your computation into a Product Pricing Database worksheet so every time you have repeat orders, you don’t have to calculate again. Any changes on the cost of materials can also be updated without having to re-enter all details on each spreadsheet.
The new and improved Jewelry Craft and Pricing Calculator now has 2 versions. We now have the Desktop Excel version and the Cloud Hosted using Google Spreadsheet version. Both version has the following features:
- Calculating pricing for your creations
- Keeping track of type of materials used and purchased for your business.
- Keeping track of available quantity for raw materials.
- Creating your product listing in a central database.
There are additional benefits if you opt to use the version based on Google Spreadsheet which are listed below:
- You can key in and access your program or database from any device such as desktop based PC, Android, iPhone or iPad as long as there is a internet connection.
- You and your team can work on the file together at the same time across teams, companies and locations. You can share the spreadsheet with others and assign appropriate roles to allow them to edit or view the file.
- Your data is always backed up, and you don’t have to worry about losing it if something happens to your computer.
Pre-requisite for using the pricing program in Google spreadsheet:
- You need to have a Google account to access Google drive.
- You need to have internet connection to access the application. The speed of the program is very much dependent on the speed of your internet connection.
The Desktop Version does not allow cloud hosting; however, the loading time for the desktop based application is much faster than Google Spreadsheet.
How’s that? Good, isn’t it? I hope I have given you a good view on how to price your handmade jewelry using the Jewelry Craft and Pricing Calculator. Believe me it’s as easy as 1, 2, 3 and very helpful too for your crafting and/or jewelry making business. This is one of those business tools that makes a beader’s life beading enjoyable!
Interested on the database? We’re offering these 3 versions at a 20% off discount from April 1-15! Grab coupon code B909BC25 to avail of the discount!
$5.99 Now $4.79 Before $6.99 Now $5.59 Before $9.90 Now $7.92
Sale at eBay April 8 – 15! Beadalon Wooden Organizer
You can organize Beadalon wire spools, Dandyline, and other items in the eight vertical bins of this Wooden Organizer. Single large drawer is great for Needles, Findings, Beads and other loose items. The open flat bin on the end keeps tools at hand and visible. The Wooden Organizer sits nicely on any worktable.
Expedited shipping available