Adding a value to crocheted items is a topic that comes up frequently in my Facebook group. Usually when people ask about the value of a crocheted item, they want to know what to charge someone for that item. They want to make a profit – big or small – from their work. How you choose to charge for a crocheted item is up to you, but here are the top three ways to add value that I have found.
- Materials times 3. Add up the cost of all materials used (yarn, stuffing, eyes, buttons, ribbons, etc.) and multiply that number times 3. When using this method, you have to factor in the price of what you’re using. Did you get your yarn on sale? Will you always be able to buy that yarn at that price? Should you charge the non-sale price? These are questions you have to ask yourself.
- Hourly rate. Figure out what you think you should be charged per hour to crochet an item, then multiply that rate by the number of hours it takes you to create a project. This can be tricky. You have to decide what you think your time is worth. $10? More? Less?
- Hourly rate plus materials. Take your hourly rate times the number of hours it takes you to create your item, then add the cost of supplies. Once you have the first two methods figured out, this one is easy to calculate.
What you, personally, have to decide is how much YOU think your item is worth. Say you’re making my Haley the Horse Amigurumi. You use approximately 6oz of your favorite worsted weight weight yarn, plus a pair of safety eyes and stuffing. Let’s say the cost of your supplies is around $6 (I’m just using a random amount). If you use the first method to price your item, your completed Haley the Horse would be $18. Does that make you happy?
Crocheting takes time and patience. In addition to your $6 in supplies, you also added your TIME to this project. Does that have a value as well? If you use the second method of adding value to your projects, then you would definitely count your time as value. Let’s say you’re charging $10 as your hourly rate. If it took you 6 hours to make your Haley, then the value of your finished item would be $60. How do you feel about that?
If you combine the first two methods – the cost of your supplies + an hourly wage, your project would be valued at $66. Does this seem more reasonable to you?
Other ways to add value to your items are to use premium supplies. Sometimes the thought of using a more expensive yarn is a little daunting if you’re unsure of what to charge to make an item. But if you use method 1 or 3 from above, you have made sure that you will be reimbursed for your original purchase. Also make sure to use the color and fiber specifically requested by your customer.
Adding extra details to your finished product also helps to add value to your items. Adding a personalized tag or note to your creation with fiber content or washing instructions is a great idea. It lets the person know what their new purchase is made from, and how to care for it. As you know, my designs are geared towards little ones. Adding a special note about washing instructions for a lovey is definitely something you might want to think about adding to your package.
If you’ve made something like a hat, blanket, or garment, maybe add a personalized button or tag. I like to use these little leather tags for my creations. I think they look nice, but they also let people know who made the item. If you choose to use one of these little extras, make sure you include any different washing instructions for your item.
Adding value to a crocheted item is very important if you sell your completed projects. How you decide what that value should be is completely up to you! For those of you who sell your finished items, how do you value your work? Drop me a comment to let me know!