Costing Question

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This topic contains 3 replies, has 3 voices, and was last updated by Tom Tom 2 years, 9 months ago.

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  • #4140
    Tom
    Tom
    Participant
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    I think I may have bitten off more than I’m prepared to chew. I was asked to make some small wooden barrels. I did a couple of prototypes just as proof of concept, and I’m quite happy with the result. The problem is, that taking into account buying the dried oak, and a marginal amount for abrasives/finish etc. they are costing around £8 to make before I factor in my time. Doing a production run, I reckon I could knock each one out in just over an hour.

    My question is, can I charge a realistic price for these without them becoming ridiculously expensive? I see similar on the likes of etsy for a few quid.

  • #4141
    Dunc
    Dunc
    Keymaster
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    I think it depends on what you time is worth to you.

    £20 an hour seems a reasonable starting point. Adjust it depending on how many you have to make, who you are making them for ( are they for friends or a purely business contact?). Will you enjoy it, will it be a slog.

    You are using your tools, your electricity.

    Its always difficult to know what to charge people for items or services as you don’t want to come across as greedy or a rip off but at the same time you don’t want to undersell yourself.

    Maybe start high and see if they negotiate the price down a little?

    • #4143
      Tom
      Tom
      Participant
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      The girl has a fledgeling small business, and is looking for about 30 of these. I did consider asking her to purchase the timber, allowing for errors & breakages, then charging an hourly rate after that. I can buy well seasoned oak locally for much less than from on-line sellers, but going to select a board with enough good quality stock in it would also eat into what little time I actually get to myself.

      I normally turn purely for pleasure, and even though I do sometimes sell the odd piece, if this became a regular gig I wonder whether it would spoil the hobby for me.

      decisions, decisions…….

  • #4142
    ed (the amateur) turner
    ed (the amateur) turner
    Keymaster
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    Hi Tom

    Well as Dunc as said your hourly rate is your hourly rate, pro turners would be looking to get at least 20.00 per hour.

    i can see no point in doing the job just to get your costs back if it were me I’d be charging 20.00 per hour because if I wasn’t doing these then I would be turning something that I enjoyed and could possible sell at what ever money I wanted to charge

    Ed

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