Lynn-Marie Posted October 13, 2005 Share Posted October 13, 2005 I know the formulas for pricing (figure out your cost per ounce and then multiply times 3 for retail) but I am wondering what do most of you charge for tarts, votives and 9oz jars?The prices that I am coming up with are:Tarts 1.5oz $1.25Votives 2oz $2.509oz Balmoral $14.00Do these sound reasonable or not? I have my first show coming up and I am worried that I will not have sales due to overcharging and I don't know what to short myself. Thanks... Quote Link to comment Share on other sites More sharing options...
YooperCandles Posted October 13, 2005 Share Posted October 13, 2005 I dont know where you are but I think that also has a lot to do with what to charge. For where I live (Upper Michigan) Those prices would be to high, but if you live in a city, or near one, they may be good. I charge $1.25 for 2 oz. votives and $5.50 for an 8 oz. jj........hthPam Quote Link to comment Share on other sites More sharing options...
Trish Posted October 13, 2005 Share Posted October 13, 2005 The prices seem a little high to me too. I originally was charging a $1.50 per votive and people didn't want to pay that. I was able to cut my costs now and bring my votive pricing down to $1 each. My 10oz apothecary jar sells for $10.It's hard when you can't buy in large quantities (wax, FO, wicks etc) plus having everything shipped in sure brings your cost up. Maybe you can cut some cost some where?figure out your cost per ounce and then multiply times 3 for retailThis has me slightly confused. Did you figure your cost per OUNCE or per ITEM? Quote Link to comment Share on other sites More sharing options...
CandleFreak Posted October 13, 2005 Share Posted October 13, 2005 Trish is right your formula seems a little off....Here is my pricing (I live in north central WV)tarts $.90 3/$2.50 (no longer make these - switched to clamshells)2 oz votives - $1.25 or 6/$7 or 12/$128 oz tureen - $7.50 Quote Link to comment Share on other sites More sharing options...
AngelaVA Posted October 13, 2005 Share Posted October 13, 2005 I live in VA - not in the boonies either. I charge $1.25 per votive, but give discounts for buying in multiples. I sell 1 oz tarts for $1 and also give discounts for those. My 8 oz square masons are $8. My 6 oz wickless candles are $8. No one has batted an eye at my prices, but it does all depend on where you live. If I could buy in bulk I would save a lot more money, but I don't have enough sales to be able to do that yet. Quote Link to comment Share on other sites More sharing options...
RobinInOR Posted October 13, 2005 Share Posted October 13, 2005 I don't do tarts, but votives are $2 and the 9 oz balmoral is $9 (my wholesale store sells for $10).Most stores around here charge $2-$2.50 for votives. Quote Link to comment Share on other sites More sharing options...
Lynn-Marie Posted October 13, 2005 Author Share Posted October 13, 2005 I figured up my price per ounce and including wax, color, fo, wick and warning label, my actual cost per ounce came up to .34 per ounce. Votives are 2 oz so .68 for actual cost and then 2.04 is the retail. Seems a bit high to me, but I know that you can always lower your prices, but it will be more difficult to raise the prices later. Quote Link to comment Share on other sites More sharing options...
KristinesShower Posted October 13, 2005 Share Posted October 13, 2005 I think you should charge what you want. There is no "formula" or "right way" to charge. I'm sure the Joe Malone candle that I seen the other day for $684.00 had no formula...just a name slapped on it.Point is, make sure you charge enough to cover yourself, your labor, your electricity making the product, rent, mortgage, etc and then go from there. If you are happy with paying yourself your wage, getting your material costs back and paying your rent, mortgage, etc - anything you make above all that goes directly into your pocket. What would you be happy shoving in your pocket after all expenses are paid? Quote Link to comment Share on other sites More sharing options...
Trish Posted October 13, 2005 Share Posted October 13, 2005 I figured up my price per ounce and including wax, color, fo, wick and warning label, my actual cost per ounce came up to .34 per ounce. Votives are 2 oz so .68 for actual cost and then 2.04 is the retail. Seems a bit high to me, but I know that you can always lower your prices, but it will be more difficult to raise the prices later.I think you need to figure your cost per item, then triple it. Not per ounce. Understandable about being more difficult to raise your prices later, but if your items are overpriced to begin with, that might scare off a new user altogether. JMO Quote Link to comment Share on other sites More sharing options...
YooperCandles Posted October 13, 2005 Share Posted October 13, 2005 I see now why you are getting such a high number, you are charging for everything every time you add another ounce. For example......lets say it costs $1.60/lb for wax and you add one ounce of scent that cost $.80. Add in another $ .16 for color. So far that is $2.56. Divide that by 16 (oz per pd) and you end up with $ .16/oz. That would be $ .32 for a votive plus the wick and packaging.........so lets add another $.18 to make it even. It means it costs you $. 50 to make a votive. That is actually kind of a high estimate for wax, color and wick so it should be less than that. HTHPam Quote Link to comment Share on other sites More sharing options...
SatinDucky Posted October 13, 2005 Share Posted October 13, 2005 Trish is right about the cost per item. For some things like wax, color, and fo, cost per ounce works. But not the other stuff. That needs to be added per item afterwards. As in the 9 oz balmoral, you'd be charging for 9 wicks and labels, votive for 2 wicks and labels, etc... Quote Link to comment Share on other sites More sharing options...
Candlegurl Posted October 14, 2005 Share Posted October 14, 2005 To simplify it for yourself...I'd just figure what your wax (including additives & median price for fo) costs per ounce and keep that figure handy. So when you are pricing something you will multiply your ounces by that figure and then add to it any additional costs for jar, labels, wicks and whatever else....then triple it. I personally quadruple my costs and don't have a problem selling them...but it does depend on your area. I will add that sometimes I'm not able to quadruple the price of my jar, depending on what I paid for it...so I might just double that.I also believe it's easier to raise a price a bit once you get people hooked on using your product. As long as it's not a big increase. You can tick someone off if they bought a product at one price and the next time they see you, you are selling it for less. hth Stacy Quote Link to comment Share on other sites More sharing options...
Lynn-Marie Posted October 14, 2005 Author Share Posted October 14, 2005 Thanks for the input all. I think that I am going to go with numbers that I would feel comfortable paying if I was the consumer. Now if only I wasn't a cheapskate! :rolleyes2 Quote Link to comment Share on other sites More sharing options...
sudsnwicks Posted October 14, 2005 Share Posted October 14, 2005 I think that I am going to go with numbers that I would feel comfortable paying if I was the consumer. That's how I do it too. Using the cost x 3 method is a good guideline on how much you should be charging but sometimes you end up with a figure that will be too high or too low, and it's not good to be priced out of the market. Quote Link to comment Share on other sites More sharing options...
deputy6512 Posted October 14, 2005 Share Posted October 14, 2005 I charge $8 for 8oz jelly jar, $6 for 6oz tin, $4.50 for 4oz jelly jar, $1 for 1.5oz tart, $3.50 for a clamshell HTH Quote Link to comment Share on other sites More sharing options...
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