How I price:
Ok some of you are wondering why I have the prices I do. Well this is simple really. I use the prices I do based on a simplistic equation. This equation has what I consider my hourly wage to be ($10 an hour for the time being) cost of materials, and a 40% profit margin.
A lot of you saw the 40% and are freaking out! Why so high! you ask. Also simple. I am a new business, I need to get my name out there, I need to attend events so that I can sell more product, and I need to acquire more materials.
Now 40% is actually on the low end of most peoples pricing guides that do this for a living. I have seen 55% and up as the norm here.
Also some of you are thinking that I am getting more money then what my items and products are worth. So let me ask you a question and this concerns why I have a wage and a profit to my equation.
If I chose to do a different job that paid me $10 an hour instead of chainmaille then that would be my wage right? That is what the job considered my time worth to them. Same is true for this job. $10 an hour is what my time is worth to be doing this. The profit is as I stated to help expand my business!
Plans for my business:
Now for those of you who are looking at this and thinking that I may be a bit ambitious. . . well you are RIGHT! Lets start off at the current situation shall we.
For those that do not know I am a Homeless 23 year old in Portland Or. Now do not take this as a way to garner sympathy, I do not say this for that. Rather I would like you to see more of what I am trying to accomplish.
Currently I am working towards making over $300 a month in profit for at lest 2 consecutive months, so that I can get a place to live. When you do the math the profit of $300 means that I have sold upwards of $1200 which should cover rent with roommates, and increasing my business.
I am also working on setting up several consignments and such with some very high end names in the Portland area.
Within a year I plan on hitting some major events in Portland and Washington. These include Ren Fairs, SCA events, and many many Cons.
I plan in the next 2 years to hit 2 MAJOR events in the US. 1 of them is a Ren Fair in Texas. There I am looking at sending roughly $12,000 worth of product and coming back with 2-3 times that (Not all of it will sell. . . ) The second event will be PENNSIC which is a HUGE SCA event (roughly 10,000 people at a slow PENNSIC) Here I will be taking as much product as I did to the Ren Fair in Texas and I plan on having a blast. I will also be bringing 2 of my models with me if the Texas Ren Fair pays off and it will be an all expenses paid trip for them.
Now a lot of you are wondering "Why the frack is he telling us this!" Well I believe that if you know my goals and what i am trying to accomplish, as well as from where I am coming from you will want to be apart of this and get your own Majestic Maille Custom piece done. This is no marketing ad or anything like that.
This is a simple show of how far I want to go with this. I have the ambition, the capability, the tools, the imagination, and the will to learn.