How to start up, lots of help needed!

Savvy_Sue

1stBusiness wrote: »

From experience, it's been quite expensive to make the odd gift (I've made presents for friends and family), so bulk wold probably be my best bet to keep costs to a minimum. The problem is I've often looked online at buying sweet hampers etc and I found them to be a rip off! That's why I decided to make my own. I don't want to be charging customers ridiculous amounts either.

fishybusiness wrote: »

If the market demands a good price, you can charge it.

pelirocco wrote: »

You might think the prices being charged are a rip off , but you have no idea what the overheads are

Apart from factoring in the costs of buying the product you also need to factor in a wastage % ( if you are buying in bulk you have to be sure you can sell before the product spoils ) You will also need to factor in a wage for yourself , there is no point working for nothing .

I've highlighted a few points: you really have to factor your time into any equations you do from the outset. I like going round craft fairs etc, and I'm very impressed by what people can do, but I don't like the prices. I realise, however, that once you factor in the time it takes, it's not an unreasonable charge.

Just as an example in a completely different arena: I've seen hand knitted socks like my mother used to knit for £25. No way would I pay £25 for a pair of socks, but really good sock wool might cost £15, and it's going to take a couple of hours to knit them, at least. So even though everyone admires my socks, would I recommend anyone to go into business knitting socks? I would not ...