What to charge your customers.... a Pricing Formula!

What to charge your customers.... a Pricing Formula!

Ever wonder what you should charge for your finished product? Here's a simple formula to use!
Example: time=labor rate
For this example I will say $15/hr is the labor rate
⭐️ Making a 6" x 6" decal using black Oracal 651 from Speedy Vinyl. Vinyl was BOGO Free so You got 2 sheets for $0.89. That means 1 sheet cost $0.44.
You are only using 1/4 of 1 sheet ( 1/4 x $0.44 = $0.11 worth of vinyl) 1/4 because the sheet is 12" x 12" and your decal is 6" x 6"
Transfer tape: (I will guess, but you could do the calculation) $0.05 in transfer tape
Envelope to ship in- $.05
Total cost materials: $0.21
⭐️ It took you 5 minutes to Cut, weed, and put Transfer tape on the decal. Remember your labor rate in this example is $15/hr so $15/60 minutes = $0.25 per minute- you spent 5 minutes so 5 x $0.25= $1.25 in labor.

Calculations:
Time= $1.25 Materials= $0.21
$1.25 + 0.21= $1.46 is your cost
WHOLESALE- $1.46 x 2= $2.92
RETAIL- $5.84

Don't forget- if you're using a platform like Etsy to sell, its smart to add your listing fee ($0.20 per item) and your shipping! You can ship one decal in a flat envelop for about $1.
$5.84 + $1 + $0.20 = $7.04 Total price for the decal!

www.speedyvinylshop.com

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