Costings

I have worked out my costings for my products displayed in my exhibition space. I found that my products came out quite a bit more expensive than competitors prices. However, this is probably because my products have been produced as one off designs and if they were actually manufactured this would be cheaper. An example of this is my sewing box, I had to actually buy a sewing box to take apart and reupholster however this obviously wouldn’t be the case if they were created for a store. As my target market is 15-25, perhaps the lower age range in my market would have the products given to them as presents rather than buying them themselves.

PRODUCT COST PRICE WHOLE SALE PRICE

(CP x 2)

RRP

(WSP x 2.5)

COMPETITOR PRICE
Individual Thread Spool Pin Cushion

SMALL

£10.45 £18.10 £41.05 £9.50
Individual Thread Spool Pin Cushion

MEDIUM

£10.60 £18.40 £41.80 £9.50
Individual Thread Spool Pin Cushion

LARGE

£10.75 £18.70 £42.55 £9.50
Pack of 3 Thread Spools in Different Sizes £26.20 £52.40 £131
Sewing Box £32.25 £64.50 £161.25 £25
Wooden Buttons Individual

Plywood

44p 88p £2.20 £1.20
Wooden Buttons Individual

Beech

50p £1 £2.50 £1.20
Wooden Buttons x 3 on Card

Plywood

£1.07 £2.14 £5.35 £5
Wooden Buttons x 3 on Card

Beech

£1.16 £2.32 £5.80 £5
Notebooks £7 £14 £35 £12.50
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