Wednesday, January 03, 2007

Oh yeah. I almost forgot. New Year's resolutions (Heath says you're only supposed to have one, I don't them goals then)...

1. Yoga 3x a week
2. Start the craft store and maybe selling on consignment (been rethinking that a'd shoot the prices up a lot for me to be able to make a profit, so I don't know)
3. Learn to knit
4. Integrate all aspects of my life together into one functioning whole instead of a bunch of shattered pieces
5. Not get walked all over

Yeah, about the consignment - dunno if I could sell anything. Let's say it takes 2 hours to make a hat, and the stuff for the hat cost $5. I'm not going to pay myself minimum wage, so let's say $8/hr. $21-23 is what I' d normally set as a price. however, everywhere I look the consignment is 40/60 (60% going to me). For me to get the same amount of profit, the price at whatever boutique would be $35. Pretty steep. Not that anyone really cares about all this stuff in the end, but y'know, I like to babble.


Blogger David said...

You're not figuring in opportunity cost. If you enjoy making the hats, and can do a few in your spare time, then you will be making money when you would otherwise be doing nothing. Also, you have to take into account economies of scale. As you produce more hats, you will get better at producing them, and you will also be able to buy materials cheaper in bulk; thereby lowering your materials and labor costs. I suggest starting small, make enough in your spare time to cover materials and a modest wage, then gradually increase production. You might not be able to use it as your only income for a while, but you've got to start somewhere.

6:53 PM

Blogger Michelle said...

ah, the joys of having an economist in our midst :P just kidding, appreciate your input...

Don't have anywhere to buy the materials in bulk though. I just figured what I'd do would lower the price a bit if I sold on consignment, and then have a tag on the garment somewhere that linked to my etsy site, where the stuff is cheaper. hopefully eventually someone would figure it out.

8:38 PM

Blogger leo said...

Good Luck on the resolutions and selling stuff. Have you ever tried making earings? They're pretty easy and cheap to make.

5:15 PM


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