Pricing can make or break your wood turning business. So, determining how much you\u2019ll charge your customers for your custom wood turned pens is very important. We\u2019ve got some tips for you to start selling your wood lathe projects fast and increase your sales.<\/p>\n\n\n\n
Find Comparables<\/strong><\/h2>\n\n\n\nTo stay competitive, make sure your pricing fits in and around others in your market. What are people willing to pay? Checking Etsy<\/a>, an e-commerce company focused on handmade items, is a great place to get an idea of your potential price range. Search similar products using keywords such as \u201cWood pens\u201d \u201cCustom pens\u201d or \u201cHandmade pens\u201d to see what other wood turners are currently charging.<\/p>\n\n\n\nPricing your work too low can make your pieces appear low quality, whereas pricing your work just above comparable sellers, if accompanied by great photos, can create more perceived value. If you\u2019re looking to up your photography game for your finished wood pens, check out our series \u201c5 photography tips for pen turners<\/a>\u201d. Great photos will sell your product.<\/p>\n\n\n\nYou can maintain slightly above average pricing but offer customers a price break with purchase of multiple pens or pen and pencil sets. This allows your wood turning brand to maintain perceived value of its products, but also allows the customers to feel good about saving some extra coin on the side. It also gives you the potential for more sales!<\/p>\n\n\n\n
Calculate Your Costs<\/strong><\/h2>\n\n\n\nBuying your pen turning kits and pen blanks in the same fashion will allow you to save money on turning supplies, so you can offer these discounts to your customers without having to sacrifice profit. You can pick up discounted pen kit bundles<\/a>, take advantage of quantity discount pricing or purchase turning kits and pen blanks that qualify for our mix and match pricing<\/a> at William Wood-write.<\/p>\n\n\n\n\nBrowse discounted bundles here<\/a><\/div>\n<\/div>\n\n\n\n<\/div>\n\n\n\n<\/div>\n\n\n\n![\"\"](\"https:\/\/penblanks.ca\/blog\/wp-content\/uploads\/2021\/06\/ww-stickers-3-scaled.jpg\")
\nDon\u2019t forget to factor in the value of your time. Do you want to be turning often? Is it a hobby you\u2019d be doing anyway? If so, you may be comfortable lowering your costs to reach a larger range of customers.<\/p>\n<\/div><\/div>\n\n\n\n
<\/div>\n\n\n\nFor a general selling price, calculate your material costs, including any cuts or fees taken from platforms like Etsy or Square. Then double that to determine your approximate selling cost. From there, evaluate what your time was worth. Did you do a CA finish<\/a>? Did your selected turning material require more skill on the lathe? Add a few dollars on to reflect the effort that went into the turning project. Don\u2019t forget to relay to your customers the skill and time it takes to complete a wood turning project, like a custom pen. Show them just how valuable your finished wood pens are.<\/p>\n\n\n\nConsider your target market<\/strong><\/h2>\n\n\n\nBefore you go putting a high price tag on all your wood pens, consider who you\u2019re trying to attract. Customers at craft shows for example have gift giving in mind. So, consider what you would spend on a gift. Artists or professionals buying for themselves may be willing to spend more on the high-end pieces like Calligraphy Sets<\/a> or Fountain pens<\/a>, so don\u2019t be afraid to have a large price range to offer to both groups.<\/p>\n\n\n\nRemember: making your products affordable means more potential customers will see your work. Consider it a walking billboard. In the long run, having more of your hand turned pens out in the world may lead to new and repeat customers through word of mouth. It\u2019s hard to miss a beautiful rollerball or click pen wrapped in burl on a co-worker\u2019s desk.<\/p>\n\n\n\n
<\/div>\n\n\n\n![\"\"](\"https:\/\/penblanks.ca\/blog\/wp-content\/uploads\/2021\/06\/knurl-GT-pens-brass-5-2-1024x683.jpg\")
<\/figure><\/li>![\"\"](\"https:\/\/penblanks.ca\/blog\/wp-content\/uploads\/2021\/06\/groove-ancient-bog-oak-pen-3-2000-1024x1024.jpg\")
<\/figure><\/li><\/ul><\/figure>\n\n\n\nPlay up the fact that you\u2019re a local Canadian pen turner. People value spending within their communities more than ever before. This means buying a Canadian fountain pen<\/a> from your small wood turning shop may make your customers feel even better about supporting you with their purchasing power!<\/p>\n\n\n\nThe same goes for buying your supplies. Shopping from William Wood-Write<\/a> not only means you\u2019re supporting a family-run Canadian business, but that you\u2019re buying in Canadian dollars and bound to save money in shipping costs and unexpected duty charges that are typically incurred when buying from out of country.<\/p>\n\n\n\nNot only that, but we\u2019re here to help you with anything you may need. If you have questions about turning supplies or how you should price your finished products for the most success, send us an email at williamwoodwrite@penblanks.ca<\/a><\/p>\n\n\n\nWe\u2019d love to help you out!<\/p>\n\n\n\n
Pricing your work too low can make your pieces appear low quality, whereas pricing your work just above comparable sellers, if accompanied by great photos, can create more perceived value. If you\u2019re looking to up your photography game for your finished wood pens, check out our series \u201c5 photography tips for pen turners<\/a>\u201d. Great photos will sell your product.<\/p>\n\n\n\n You can maintain slightly above average pricing but offer customers a price break with purchase of multiple pens or pen and pencil sets. This allows your wood turning brand to maintain perceived value of its products, but also allows the customers to feel good about saving some extra coin on the side. It also gives you the potential for more sales!<\/p>\n\n\n\n Buying your pen turning kits and pen blanks in the same fashion will allow you to save money on turning supplies, so you can offer these discounts to your customers without having to sacrifice profit. You can pick up discounted pen kit bundles<\/a>, take advantage of quantity discount pricing or purchase turning kits and pen blanks that qualify for our mix and match pricing<\/a> at William Wood-write.<\/p>\n\n\n\n Don\u2019t forget to factor in the value of your time. Do you want to be turning often? Is it a hobby you\u2019d be doing anyway? If so, you may be comfortable lowering your costs to reach a larger range of customers.<\/p>\n<\/div><\/div>\n\n\n\n For a general selling price, calculate your material costs, including any cuts or fees taken from platforms like Etsy or Square. Then double that to determine your approximate selling cost. From there, evaluate what your time was worth. Did you do a CA finish<\/a>? Did your selected turning material require more skill on the lathe? Add a few dollars on to reflect the effort that went into the turning project. Don\u2019t forget to relay to your customers the skill and time it takes to complete a wood turning project, like a custom pen. Show them just how valuable your finished wood pens are.<\/p>\n\n\n\n Before you go putting a high price tag on all your wood pens, consider who you\u2019re trying to attract. Customers at craft shows for example have gift giving in mind. So, consider what you would spend on a gift. Artists or professionals buying for themselves may be willing to spend more on the high-end pieces like Calligraphy Sets<\/a> or Fountain pens<\/a>, so don\u2019t be afraid to have a large price range to offer to both groups.<\/p>\n\n\n\n Remember: making your products affordable means more potential customers will see your work. Consider it a walking billboard. In the long run, having more of your hand turned pens out in the world may lead to new and repeat customers through word of mouth. It\u2019s hard to miss a beautiful rollerball or click pen wrapped in burl on a co-worker\u2019s desk.<\/p>\n\n\n\n Play up the fact that you\u2019re a local Canadian pen turner. People value spending within their communities more than ever before. This means buying a Canadian fountain pen<\/a> from your small wood turning shop may make your customers feel even better about supporting you with their purchasing power!<\/p>\n\n\n\n The same goes for buying your supplies. Shopping from William Wood-Write<\/a> not only means you\u2019re supporting a family-run Canadian business, but that you\u2019re buying in Canadian dollars and bound to save money in shipping costs and unexpected duty charges that are typically incurred when buying from out of country.<\/p>\n\n\n\n Not only that, but we\u2019re here to help you with anything you may need. If you have questions about turning supplies or how you should price your finished products for the most success, send us an email at williamwoodwrite@penblanks.ca<\/a><\/p>\n\n\n\n We\u2019d love to help you out!<\/p>\n\n\n\nCalculate Your Costs<\/strong><\/h2>\n\n\n\n
Consider your target market<\/strong><\/h2>\n\n\n\n
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