About pricing guidance
Our pricing guidance feature calculates estimated sale prices based on the current material and labor cost of your product, using the percentage markups you have configured per Pricing Tier and any additional overhead amounts you have configured.
More details on how percentage pricing markups work can be found in our blog post How to calculate pricing markups for your handmade products
Tip: If you have a pricing tier called "Etsy", the pricing guidance will also automatically factor in listing, transaction and Direct Checkout fees for you.
Example: Jane makes a product called a “Star charm bracelet” which she sells both at her market stall on the weekends and also through her Etsy shop. She creates this as a product in Craftybase and creates a recipe to calculate the material costs involved in making the bracelet. She finds that to make 1 bracelet it costs her $17 in materials. She has set her labour rate to $6.50 / hour, and calculates on average it takes her 2 hours to make. This results in a total manufacture cost per bracelet of $17 + $13 = $30.
Jane has already pre-configured her Pricing in Craftybase to be Etsy as 150%
and Market as 100%. Under the Pricing section on her product page she should see a recommended price for Etsy of $75.00 and a recommended price for Market as $60.00.
These suggestions will be constantly recalculated with the latest information we have about your recipe. If your material costs increase, you will find that your pricing suggestions will also increase.
Important: Our pricing guidance is designed specifically to ensure that you factor in your manufacture costs to your prices. Remember that our pricing guidance should always be treated as such - you may need to assess your actual pricing using a number of different factors depending on your product range.
Locating your product's pricing guidance
To find your pricing guidance for a product: