Friday, May 3, 2013

Economics of the Small Craftsman

I've found a new supplier for some of my knife blades, so I can lower my prices a bit. I think this has been a sticking point for some of my customers in the past. Well, as much as money is ALWAYS a sticking point when you're wanting to buy something.

I don't make a lot off of each knife as it is. I added up the costs and time once and came out right around minimum wage. On a more complicated design, a significant amount less than minimum wage. Still though, I'm in my workshop doing what I love doing instead of assembling burgers and listening to some pencil-neck drone on about mission statements.

Lowering prices and selling more knives is going to be the goal for May.

1 comment:

Gorges Smythe said...

Just remember that you deserve a decent wage as much as the people who BUY your knives. I once heard of a guy who charged for his work according to how much the CUSTOMER was paid on HIS job!