|
|
Post by Lexxi on Feb 22, 2015 19:17:45 GMT
I'm working on my 2014 income taxes. Last year, Gorram Quilts made ... drumroll... $4  And (with an accounting degree), I spent hours calculating this and I just find the whole thing amusing. (And I do know how craft businesses work, small profit, etc... people seem to think I'm asking for encouragement when I say I spent hours calculating that I made $4 last year... purely stating an amusing thing) Attachments:
|
|
|
|
Post by Toni on Feb 23, 2015 0:27:47 GMT
Yay for profit!! Seriously though, it is a good thing if you aren't losing money. Now for a much bigger profit in 2015. |
|
|
|
Post by Lexxi on Feb 23, 2015 1:48:28 GMT
My goal is to double or maybe, maybe even... triple my profit for this year!
|
|
eliste
Craft Hacker Members
Posts: 254 
|
Post by eliste on Feb 23, 2015 10:41:02 GMT
Hey- that's pretty damn awesome! Well done.
|
|
Yurtle
Craft Hacker Members
Posts: 100
|
Post by Yurtle on Feb 23, 2015 18:25:39 GMT
Woohoo!!! I wish I could say the same. Just recently, I spent $50 on materials for a project and made $20, with a loss of $30 overall! I think I'm doing this wrong!  |
|
|
|
Post by Toni on Feb 23, 2015 19:25:45 GMT
If that is the project we talked about, then yes!  |
|
|
|
Post by Lexxi on Feb 23, 2015 19:42:16 GMT
Woohoo!!! I wish I could say the same. Just recently, I spent $50 on materials for a project and made $20, with a loss of $30 overall! I think I'm doing this wrong! Yup, I have many of those projects. I've been wanting to sell baby blankets but they cost $20-25 to make and that's about what I expect to sell them for (I'll start them higher just to see). I spent hours searching all of the internet (every corner!) to find a wholesaler for the supplies, so now it'll be about $12 in supplies - huzzah! But, yeah, the whole quality means higher cost thing but people want cheap is brutal |
|
eliste
Craft Hacker Members
Posts: 254
|
Post by eliste on Feb 23, 2015 20:16:53 GMT
People have commented that they'd buy the baby blankets I make for 50-100. I think there's definitely a market out there for good quality blankets that will pay for it.
|
|
|
|
Post by Toni on Feb 23, 2015 21:00:23 GMT
You realize the cheapest quilt I offer is $130. That is a lap size/baby size. If you were one of my members I would sit down and help you price things correctly and then stick to the pricing.
Case in point, I had a gentleman stop by my table at the last convention on Saturday evening. At this point I had only sold one quilt. He asked if I would take $160 for my $180 Link with Triforce quilt. I told him no, my products are all hand made and it takes me a certain amount of time and a certain cost of materials so my prices are fixed with no room for negotiation. An hour later he came back and bought it for $180.
Pay yourself!
|
|
|
|
Post by Lexxi on Feb 23, 2015 23:10:02 GMT
I do understand that. These aren't quilts since I would not sell a quilt for $20. I take a piece of fleece fabric and add a binding to the edges. It's quick and works as a "throw it on the ground when you go to the park" type blanket rather than "treat this well" quilt
|
|
|
|
Post by Toni on Feb 24, 2015 0:29:40 GMT
I also make fleece throws and charge a minimum of $80. I think the last one I made I charged $100. |
|
|
|
Post by Lexxi on Feb 24, 2015 2:32:07 GMT
Really? Wow... can you link me to a picture or 2?
|
|
|
|
Post by Toni on Feb 24, 2015 12:53:35 GMT
There are a couple in my sports quilt gallery. quiltoni.deviantart.com/gallery/25515968/Sports-QuiltsWithout the embroidery I sell them for $15-$20 less. An important thing to remember is when someone under prices themselves it hurts everyone because it doesn't help educate the public about handmade. The biggest reason I started Craft Hackers is to help crafters make money and educate the public. |
|
|
|
Post by Toni on Feb 26, 2015 14:35:54 GMT
So. I just did my taxes. I combined Craft Hackers into my existing Quiltoni and made Craft Hackers the parent and Quiltoni a subsidiary. This is how much Craft Hackers made in 2014. 
Yeah. I spent a LOT of money from April-December though getting the new site up and running as well as paid for a lot of the conventions I am doing in 2015 for the promotional tour. So I don't want anyone, member or non member to get frustrated. I do have a business plan in place and have a forecast of a profit in 2015 (a very small one, but it will take time). The biggest thing I want to point out is you have to spend money to make money. You also have to have a plan in place and always look to your goals. |
|
|
|
Post by Lexxi on Feb 26, 2015 21:10:43 GMT
Oh, yeah, definitely. That whole "if you build it, they will come" business idea that people have, not so much. Thanks for sharing |
|
And (with an accounting degree), I spent hours calculating this and I just find the whole thing amusing. (And I do know how craft businesses work, small profit, etc... people seem to think I'm asking for encouragement when I say I spent hours calculating that I made $4 last year... purely stating an amusing thing)
