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And now, on with my story…
I thought I would shed some light on how I go about pricing my decals. As of late, I have had that question come up and I think now is a good time for me to talk a little about it here.
The only reason I can now speak a little more confidently on pricing is because I spent some time asking myself the same question for the past two years. Recently, after joining vinylforum.org, I popped the question on the forum.
Calculating Price on Vinyl Stickers
Prior to my inquiries, the method I most used was to find a comparable item on Etsy and either match it or beat it. I could not tell you how that item’s price was originally determined. I really had no clue. However, on the forum I learned a quick method to estimating the price for my decals. The forum member that offered her advice goes by the forum name of SuZie. Here are three price estimating suggestions that she offered. The numbers are based on a decal that was 12″ x 12″ in size:
Quickie Estimating Tricks: 1. Sq.inches x 10 cents = $14.40 2. Add width & height and divide by 2 = $12 3. $1 per running inch of 24″ vinyl = $12 Don’t feel guilty charging for your time and expertise….you shouldn’t be working for free. In the end, if YOU are happy with what profit you made and your customer is happy with the price…..that’s what counts.
Actually, SuZie added that last part because I was rather weak in my negotiations. I don’t mind… You can read the whole post here. The quickie estimating trick which I decided to adopt was number #2. Add width + height and divide by 2 . I call this the “W+H/2 Pricing Method” for short.
(By the way, this is only for the price of the decal. There is no installation involved here and everything I sell is online, not locally or face-to-face. That’s a whole other chapter. I also work from home so I save a lot overhead – Keep all this in mind as you read on.)
So (W+H/2) is the one that I am using to calculate my new items on my Etsy Shop.
For example, I posted this one just recently using the W+H/2 Pricing Method: https://www.etsy.com/listing/120252377/take-it-to-the-hoop-basketball-wall
In the example above, the size of the decal is 22″ wide x 18.5″ tall. That is a total of 40.5″. Divide that by 2 and you get $20.25. I rounded down to $20 and that’s how I got my price for this one. I could have rounded up, but I was feeling generous. I may decide to add a dollar or two more if I feel there is a little more weeding involved than usual for me.
This listing, for example: https://www.etsy.com/listing/120321876/dinner-choices-take-it-or-leave-it-wall
That listing above should have been a simple calculation of 12″ + 12″ = 24″ / 2 = $12.00 But I decided to add a couple of more dollars because I am working with some fine lettering in this design. I could go blind during the weeding process, so $2 bucks will cover it!
However, it was suggested that if you sell larger decals, you can provide a discount for purchasing in larger volume. Again, this is all going to depend on detail and complexity of weeding and preparing your decal.
I realize that method 1. Sq.inches x 10 cents keeps the price equal for each square inch sold in the design. But, for my shop, I think about if I would sell one of my 22″ x 22″ designs, which I should now price for $22.00 using method #2: w+h/2.
But with method 1, I would have to sell for $48.40. As much as I would love to make lots of money off my customers, I am not ready to sell at that price. I think since a) my designs are generally not so complicated; and b) I am not involved in the installation of the decal, the price calculated with method 2 seems fair for my items, thus far.
And as for method #3: $1 per running inch of 24″ vinyl, the price for one of my 22″ x 22″ designs would be $22.00 .
That could work for me as well… I use 24 inch vinyl rolls and if I could sell every inch across for $1.00, this also sounds like a reasonable price to charge, and a mighty fair profit.
To read the complete discussion where the above calculations were shared, click here: http://www.vinylforum.org/smf/estimating-pricing/the-one-that-got-away-maybe/
I actually initiated the discussion and it led to the discussion on pricing vinyl decals… very informative. Read it when you get a chance.
Now when I have new items to list on Etsy or a customer asks for a custom order, I really do not stress about it any more. I just do the quick math and give it to them with a confident smile 🙂
Just in case you decide to do some spying on my Etsy Shop, I have not gone back to re-price my old items on Etsy yet. So, if you go to my shop to see how well I am sticking to this vinyl decal price estimation method, you will mostly see it on my newer items.
For more on pricing your vinyl, click here: How Much Money Can I Make On a Roll of Vinyl? Thanks for reading!!