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In my last post, I talked about the mockup I made for a coin purse out of paper. And today, I took on the task of making a real sample for the bag. The twist was, it needed to be striped.
So, like the crafty gal I am, I got together my acrylic paints and a nice roll of canvas and got to constructing my design. I cut out the same shapes I used for my mockup and then painted the stripes. We're very close to Easter and I love pastels so I chose the lightest shades of pink, blue, purple and yellow to have my design as cute as can be. When I finished painting, I decided it was a little bland, so I added glitter paint to the scalloped piece. That's always a good save, just add glitter. Life motto.
Then I just pinned the pieces together to see how it would look without having to ruin the paint by sewing through.
Then, it was time to calculate the prodcution costs. Basically, figure out how much it cost me to make and how much I should sell it for.
I spent $15.00 on materials and spent 4 1/2 hours making it. Giving myself a wage of $10 an hour, just $2.50 above the minimum wage would earn me $4.50 for this bag. The total production cost would be $19.50. This simple coin purse is getting pricey already. But, wait, I'm not done yet. A decent profit would be about 20%, so that's an extra $3.90. That all tallies up to $23.40. To earn a good margin, I round it up to $26.00 to have an extra $2.60 in earnings. It may seem pricey when you see the tallied up price, but the designer (me) is earning a living wage, the piece is hand crafted, hand painted and it's been designed locally.
So, what do you think? Do you like my design? Would you buy and use this product? Would you pay that price? Write a comment or write to me by going to the contact page!
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My last post: CAN I BE A FASHION DESIGNER? The post I mentioned: LEARNING ABOUT PRODUCTION COSTS
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