What's a reasonable profit margin?

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What's a reasonable profit margin?
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sally_in_wales
Downsizer Moderator

Joined: 06 Mar 2005
Posts: 20809
Location: sunny wales

Posted: Tue Mar 27, 07 5:25 pm Post subject:

tahir wrote:

£23-£27 for a beanie:

https://www.allthingsgreen.net/marketplace/lief-clothing-m-19.html

I notice they have neither teacosies nor welly socks on that site

Wonder if they need two new suppliers?

tahir

Joined: 28 Oct 2004
Posts: 45426
Location: Essex

Posted: Tue Mar 27, 07 5:27 pm Post subject:
Ladies, the first thing you have to understand (both of you) is that you're selling your own labour and ingenuity, this is a finite resource, you can't make more time than 168 hrs p.w. Charge more sell less is my advice. I think both of you are far too talented to spend your lives making sodding hats and socks.

tahir

Joined: 28 Oct 2004
Posts: 45426
Location: Essex

Posted: Tue Mar 27, 07 5:31 pm Post subject:
I'd also add that between the pair of you and other members here you have the potential to form a co-op of your own, this could share out work and present your ranges at shows without having to travel yourself. e.g. Toggle does London shows, Sally Welsh ones etc... Where's n, is there anything like this happening at her site?

tahir

Joined: 28 Oct 2004
Posts: 45426
Location: Essex

Posted: Tue Mar 27, 07 5:33 pm Post subject:
Wonder if Pils would be interested in doing some shows for such a co-op? Come in Pilsbury...

sally_in_wales
Downsizer Moderator

Joined: 06 Mar 2005
Posts: 20809
Location: sunny wales

Posted: Tue Mar 27, 07 5:34 pm Post subject:

tahir wrote:

I'd also add that between the pair of you and other members here you have the potential to form a co-op of your own, this could share out work and present your ranges at shows without having to travel yourself. e.g. Toggle does London shows, Sally Welsh ones etc...

Where's n, is there anything like this happening at her site?

now there is a thought!

tahir

Joined: 28 Oct 2004
Posts: 45426
Location: Essex

Posted: Tue Mar 27, 07 5:36 pm Post subject:

sally_in_wales wrote:

tahir wrote:

now there is a thought!

Yup, you have to maximise coverage without increasing travel time and costs, you should all benefit. I'm sure there are plenty of potential members on here. (If not there should be)

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Tue Mar 27, 07 6:04 pm Post subject:

sally_in_wales wrote:

tahir wrote:

£23-£27 for a beanie:

https://www.allthingsgreen.net/marketplace/lief-clothing-m-19.html

I notice they have neither teacosies nor welly socks on that site

Wonder if they need two new suppliers?

They've offered me a space on all things green but it's 20 quid a month or 15% (or something like that) I keep meaning to email him and a couple of other people on it and ask if it's worth their while.

tahir

Joined: 28 Oct 2004
Posts: 45426
Location: Essex

Posted: Tue Mar 27, 07 6:08 pm Post subject:

Stacey wrote:

They get £20 a month AND 15%

Set up your own, get together with a few people and do it. I'm sure there are plenty of people here that can set something up pretty cheaply and quickly.

jema
Downsizer Moderator

Joined: 28 Oct 2004
Posts: 28111
Location: escaped from Swindon

Posted: Tue Mar 27, 07 6:18 pm Post subject:

tahir wrote:

Ladies, the first thing you have to understand (both of you) is that you're selling your own labour and ingenuity, this is a finite resource, you can't make more time than 168 hrs p.w.

Charge more sell less is my advice. I think both of you are far too talented to spend your lives making sodding hats and socks.

Absolblinkkinglutely and this sobering thought needs considering whenever anyone considers "craft" type things.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Tue Mar 27, 07 8:51 pm Post subject:

I'm never too keen on the idea of co-ops just because of the nature of them and me. This may come as a surprise to all of you but I don't do people very well

The shows I've picked to do this year are ones that we want to attend as a family. If by trading at them I can pay towards that then I'm happy. Next year will have to be a different matter - I'll have to start behaving like a proper business

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Tue Mar 27, 07 8:54 pm Post subject:

jema wrote:

tahir wrote:

Absolblinkkinglutely and this sobering thought needs considering whenever anyone considers "craft" type things.

Hmm - I think the problem is in the word craft. I don't consider what I do as being craft in the sense that others might. I think I'm in some middle ground between craft and art. That's why I'm happy to adopt the somewhat cerebrally masturbatory term of 'designer maker' for the time being. I think the Crafts movement (with a capital C) in the UK is undergoing a shift in perspective. It's a good time to be in the creative industries IMO - it's just a matter of finding a niche that one is comfortable and confident in.

dpack

Joined: 02 Jul 2005
Posts: 45476
Location: yes

Posted: Tue Mar 27, 07 11:54 pm Post subject:

Stacey wrote:

Ok - I've just worked out what I would need to sell to provide half the family income per annum at £8 an hour and with a 30% margin.

2756 soap kits
or
312 tea cosies
or
1568 mug cosies
or
5044 felted soaps

X 10 with a 100% margin

Burger anyone?

i understand , top end market is required i suspect

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Wed Mar 28, 07 9:31 am Post subject:

klaus van winkle wrote:

i understand , top end market is required i suspect

I think you're right. I need to tailor my products to appeal to that market.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Wed Mar 28, 07 9:33 am Post subject:

tahir wrote:

Stace, this must take less time to make than a tea cosy mustn't it?

https://www.allthingsgreen.net/marketplace/ecofriendly-scarf-large-p-278.html?manufacturers_id=33

It probably takes more time - it's woven.

I don't weave - I can't see in straight lines at all so I find warping up a loom to be almost impossible.

Stacey

Joined: 18 Jul 2005
Posts: 8380
Location: Kernow

Posted: Wed Mar 28, 07 9:35 am Post subject:

tahir wrote:

I think both of you are far too talented to spend your lives making sodding hats and socks.

I'm intrigued (and flattered) by this - what do you mean? What sort of things do you think would be more lucrative?

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