Choosing the price of your drop can be tricky for everyone. Here are some tips for getting it right and making sure you start smoothly on DELLI:
Things to consider when pricing your drop:
- How are other, similar, items priced?
- Take a look around the market, and see what other people are doing and how they’re pricing it to give you a guideline on the ballpark you should be pricing your drop in.
- Take a look around the market, and see what other people are doing and how they’re pricing it to give you a guideline on the ballpark you should be pricing your drop in.
- What goes into the product
- This includes all of your ingredients and the packaging too. If you’re buying premium butter for your pastries, remember to factor in just how many you can make with that 250g block.
- Your packaging and materials can also eat up a hefty chunk of your costs, especially if you’re trying to reduce your impact. We know that sustainable alternatives are more expensive, so make sure you communicate this to your buyers in your description so they understand and know.
- Rent, shipping and other costs
- Make sure you’re covering your rent if you’re in a commercial space. Also, consider shipping or delivery as this is always going to need to be factored in (and is, for the most part, outside of your control). Look around and talk to other makers to see if there are any cheaper or better solutions waiting for you.
- Make sure you’re covering your rent if you’re in a commercial space. Also, consider shipping or delivery as this is always going to need to be factored in (and is, for the most part, outside of your control). Look around and talk to other makers to see if there are any cheaper or better solutions waiting for you.
- Time
- The most important and overlooked factor. Think about how much you’d like to pay yourself and the value of your time and factor this in. Let’s say you want to pay yourself £15 an hour, and can make 10 products in an hour: that would add £1 per item onto the cost.