The Arts and Crafts Entrepreneurship Project is a a collaboration between the Arizona Consortium for the Arts and Serendipity Educational Resources.

1. ARTS AND CRAFTS
ENTREPRENEURSHIP
PROJECT
A collaborative project of Artizona and SER

2. Inventory and Pricing

3. Pricing Strategy
 Cost of Materials
 Related Costs
 Pay Yourself

4. Rule of 3
Materials
Related Costs
You

5. Cost of Materials
Write down the total cost of your
materials per item. If you use one
yard of material, but make three
items from that one yard, then
divide the price of the yard by three
and apply the cost to the item.
Accounting for all costs is very
important so you know what your
break-even point is.

6. Related Costs
Account in your expenditures for the
cost of the booth, any travel
expenses, etc. Divide the total
amount of related costs by the
number of products you’ll be
selling and you’ll have a better
idea of the amount to add to each
item sold.

7. Pay Yourself
Your time is of utmost value. Set a
reasonable hourly rate and multiply
by the time it takes to produce each
item sold.

8. Inventory Factors
 One of a Kind (OOAK)
 Creating Small Scale Items
 Functional Items
 Trends

9. Pricing Fears
 Customers Only Care About Prices
 Prices Must Stay In Line with My
Competitors
 My Revenue will Drop if Prices
Raise

10. 2014 Trends
 Social Responsibility
 Repurposed/Reclaim
ed
 Bold Geometric
Shapes
 Men’s Accessories

11. Pricing Do’s and Don’ts
DO DON’T
Know the Show –
Attendance
Population
Trends
Variety of Price Points
Creative with Sales –
Gift with Purchase
Combine Items (gift
basket)
Buy More, Save More
Avoid Destructive
Competitive Pricing
Hard Costs – not feasible
for small business

12. Inventory
 Bring enough to sell but not enough that your
taking most of it back with you
 Preview your items online and see what gets the
greatest comments and start with those items
 Multiples of five or six
 Present limited runs and show exclusives