Help!! Pen kits, bulk, pricing! Sorry so long! - International Association of Penturners
     International Association of Penturners
Pens for Service Members
 
Support The IAP

Go Back   International Association of Penturners > Community Forums > Penturning
  Forgot Password
Register FAQ Members List Search Today's Posts Mark Forums Read
Penturning General penturning discussions not specifically addressed in one of the specialty forums.


Logged on members can hide ads!

Welcome to penturners.org!

You've found the home of The International Association of Penturners. You are currently viewing our site as a guest, which gives you limited access to view discussions, photos, and library articles.

Consider joining our community today. You'll have full access to all of our content, be able to enter our contests, find local chapters near you, and post your questions and share your experience with our members all over the world.

Membership is completely free!!

If you have any problems with the registration process or your account login, please contact us.

Reply
 
LinkBack Thread Tools Display Modes
Old 06-21-2017, 04:13 PM   #1 (permalink)
 
Kburr's Avatar
 
Join Date: Jun 2017
Location: Georgia
Posts: 20
Photos: 12

Exclamation Help!! Pen kits, bulk, pricing! Sorry so long!

I am relatively new to pen turning and have just started selling the products I create. In the past, I have sold my items too cheap but have been working hard to create prices that are reasonable yet benefit me as well. That being said, I HAVE MY FIRST BIG ORDER! Not just one or two pens but BULK quantity. I have only created "low-cost" slimline resin/wood pens so far. This customer, wants a higher-end artisan/cigar style pen that cost anywhere from 25-35 dollars a kit. I'm adding $5-10 to each pen depending on quantity for blanks/labor. I have been doing my homework and comparing prices/quality on a lot of sites. There are just so many!! I narrowed it down to one specific style, on woodturnerscatalog.com, that I know my customer is 100% satisfied with design wise.. even though he has no idea how much they cost yet.

Fast forward 24 hours.. customer has asked to replace the cap portion (design) of the kit with their LOGO instead.. Great idea, but I have no idea how I should execute it. My significant other, just happens to be a machinist so he suggested either creating a die and pressing or stamping it into a type of metal or milling the logo in.

MY QUESTIONS ARE: How do I begin pricing 25, 50, 75, 100, 40-50 dollar pens (I think im pricing them too low)? What are the best places to order high quality pen kits in bulk!? I have to add machining work/material but I have no idea what i'll truly need until the pens are actually ordered. Does anyone have experience with bulk pricing and the time it takes to create 100 pens??

I am just feeling so overwhelmed. Picture of pen below. ANY advice would be great!! Thanks, in advance!
Attached Thumbnails
screenshot_20170617-161504.jpg   screenshot_20170617-183818.jpg  
Likes: (1)
Kburr is offline   Reply With Quote Top
Old 06-21-2017, 04:22 PM   #2 (permalink)
 
corgicoupe's Avatar
 
Join Date: Mar 2016
Location: Smoke Rise, GA
Posts: 217
Photos: 0

Default

Ryan Krusac (ryankrusac.com) considers the statesman to be the highest quality kit. Go to his site to see his pricing. Cut it in half and discount a bit further for bulk sales to get in the ballpark. But it has to be top quality work!
Likes: (2)
corgicoupe is offline   Reply With Quote Top
Old 06-21-2017, 04:41 PM   #3 (permalink)
 
Join Date: Oct 2012
Location: central Minnesota
Posts: 3,935
Photos: 0

Default

My Opinion........You are pricing your work way to low.

An artist is worth the skill and ability they bring, along with doing the work.
__________________
It's not "Having what you want"......it is "Wanting what you have".

"Don't go riding on that long black train."
stonepecker is offline   Reply With Quote Top
Advertisement
Old 06-21-2017, 04:54 PM   #4 (permalink)
 
Kburr's Avatar
 
Join Date: Jun 2017
Location: Georgia
Posts: 20
Photos: 12

Default

Thanks, corgicoupe! I am at a loss for words, 400 dollar pens!? It definitely gives me something to go off of, though! Thank you!!
Kburr is offline   Reply With Quote Top
Old 06-21-2017, 05:03 PM   #5 (permalink)
 
Kburr's Avatar
 
Join Date: Jun 2017
Location: Georgia
Posts: 20
Photos: 12

Default

I haven't priced anything, yet. I'm well aware the items I've sold in the past were too cheap. However, most went to locals, friends, and family who have helped me get to where I am now. I want to make sure, I dont make that mistake in the future though, so that's why I am asking. Bulk quantity is new to me. Should I charge hourly, instead? Location, location.. How do I know which areas pay more?
Kburr is offline   Reply With Quote Top
Old 06-21-2017, 05:10 PM   #6 (permalink)
 
firewhatfire's Avatar
 
Join Date: Mar 2011
Location: Columbiana, Alabama
Posts: 3,758
Photos: 14

Default

If you are $40 in a kit and blank with custom finial costing another $10, if it was me I would start pricing at $200 per as a bulk order prices. $250 start for a single pen.

That is minimum

Price them all like you are in an area that can afford those prices.


Quote:
Originally Posted by Kburr View Post
I haven't priced anything, yet. I'm well aware the items I've sold in the past were too cheap. However, most went to locals, friends, and family who have helped me get to where I am now. I want to make sure, I dont make that mistake in the future though, so that's why I am asking. Bulk quantity is new to me. Should I charge hourly, instead? Location, location.. How do I know which areas pay more?
__________________
I shall pass through this world but once. Any good therefore that I can do or any kindness that I can show to any human being, let me do it now. Let me not defer or neglect it, for I shall not pass this way again.
― Stephen Grellet

Deuteronomy 31:6
Romans 14:8
Likes: (1)
firewhatfire is offline   Reply With Quote Top
Old 06-21-2017, 05:15 PM   #7 (permalink)
 
More4dan's Avatar
 
Join Date: Mar 2016
Location: Katy, TX
Posts: 661
Photos: 5

Default

Look at the following post on a similar question and how they went about it. You may find some good ideas.

A bunch of Jr. Gents

Danny


Sent from my iPhone using Penturners.org mobile app
Likes: (2)
More4dan is offline   Reply With Quote Top
Old 06-21-2017, 05:18 PM   #8 (permalink)
 
Join Date: May 2017
Location: North Texas
Posts: 35
Photos: 0

Default

Most of what I see (in my industry, which is admittedly not related to the pencrafting industry whatsoever), a customer would expect a 15-25% discount on a bulk order over what they would pay for a one-off. Looking at the pricing of components on a pen part distributor like Exotic Blanks, that looks to be on-par for an order of around 100. So you could figure out what you would charge for 1 pen, multiply it by 100 and apply the "bulk discount"? Or you could go through, figure out your direct cost (including kits/customizations, blanks, expendable materials, and a rate you would charge for your time/artistic investment) and then potentially add a bulk discount. Although you may be able to factor out the discount if it's factored in to the price you paid for your raw materials.

But take anything I say with a grain of salt... everything I've turned on a lathe so far has been gifted so I haven't technically made any money off my hobby yet o.O
Likes: (1)
thawkins87 is offline   Reply With Quote Top
Old 06-21-2017, 05:41 PM   #9 (permalink)
 
TonyL's Avatar
 
Join Date: Mar 2014
Location: Alpharetta, GA
Posts: 4,876
Photos: 6

Default

The only real economies of scale we enjoy in pen making is marketing (maybe some bulk product cost discounts too) - even with a duplicator, we don't save much time when producing multiples of the same pen. The "discount" would reflect a percentage of your customer acquisition costs. That is for you and the buyer to agree upon. And after all of the calculations, one is still stuck with what the buyer is willing to pay. You have the right not to sell, but the buying decides what the product's cash value is.
__________________
Am I not destroying my enemies when I make friends of them? Abraham Lincoln

Peace,

Tony
Likes: (1)
TonyL is offline   Reply With Quote Top
Old 06-21-2017, 05:56 PM   #10 (permalink)
 
stuckinohio's Avatar
 
Join Date: May 2015
Location: Columbus Ohio
Posts: 1,248
Photos: 3

Default

To follow up on what More4Dan posted - Here is the link where he explains how he did it and where he got them from.

Custom engraved finials for Jr. series pens
__________________
Lewis
Likes: (1)
stuckinohio is offline   Reply With Quote Top
Related Content
Logged on members can hide ads
Reply

Bookmarks

Tags
artisan , bulk , custom designs , pen kits , statesman

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


All times are GMT -5. The time now is 01:22 AM.

Powered by vBulletin® Version 3.7.6
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.6.0

Content Copyright © 2003-2016 by Penturners.org, LLC; All Rights Reserved
Terms Of Service   Acceptable Use Policy