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Reply by Bill

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Posted on Counting The Cost: Estimating Questions

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Bill

2579 posts in 2908 days


#1 posted 01-21-2007 08:21 PM

I read a couple of good books to help with pricing woodwork. The first – How to start a Home-Based Craft Business by Kenn Oberrecht. While mainly for craft type items, it gives a basis for estimating.

The second book – The Woodworkers Guide to Pricing your Work by Dan Ramsey. This provides some good guidelines for multiple types of work—crafts, furniture, etc. I remember the basic rule for furniture selling price was 4 times the cost of materials. Of course, if you have a specialized item, a good reputation for quality, a following, etc., you can charge a greater price.

Having said all of that, I am still working on getting a pricing formula right. If it was based on my hours to produce some of my projects, no one would ever buy them. So, I do a reasonability check – what would something like this sell for in a retail store or perhaps online. At least this gives me an idea if my price is way out of line.

-- Bill, Turlock California, http://www.brookswoodworks.com


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