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Crafting a Successful Small Business: Making, marketing and merchandising by Joanne Dewberry

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Chapter Two: Is the price right?

Pricing your products right is vital. You don’t want to pitch too low and risk not making a profit, but at the same time you don’t want to go too high and price yourself out of the market. You will find that some crafters sell their creations extremely cheap in comparison to your well thought out prices, either because they are not registered as a business and do this for pocket money, or they have not got a clue about pricing. This can make it harder for those who play by the rules and, more importantly, know their product’s value. Do not be lured into lowering your prices – remember you are crafting a successful small business.

You need to know these three key prices for each of your products. This is where ...

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