Sunday, May 30, 2010

Chart Magnet costs

Ah ha! I found the receipt for the ribbon. :) (The wind had blown it off my messy desk to a spot between some boxes that I really need to unpack and find permanent "away" spaces for.)

1 spool of ribbon = $3.50 + 12% tax, makes 3 chart magnets
1 strip of magnet = $1 (I think it's $1, and not something that Dollarama increased prices on) + 12% tax, makes 1.5 chart magnets

So, material cost for a single chart magnet (not counting thread, electricity, or miscellaneous) is $2.05. Now I just need to time myself so I can add minimum wage to get the wholesale cost, and then double the wholesale cost to get retail. Whee. (Assuming anyone wants to buy them, of course.)

If I do sell them on commission, I may need to increase the cost a bit to take into account the high (per item) material cost... with the stitch markers, the material cost is quite low (the time is the most significant portion of the cost), and so it doesn't take many sales to cover my initial investment (not counting time). To cover the materials cost for the chart magnets will take quite a few more sales... and I'd rather not *lose* money! ;)

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