daynawrap
off to a rocking start
Member since November 2012
Posts: 2
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Post by daynawrap on Nov 8, 2012 11:56:56 GMT -5
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TByrd
fully equipped rock polisher
Have you performed your random act of kindness?
Member since December 2010
Posts: 1,350
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Post by TByrd on Nov 8, 2012 23:44:42 GMT -5
Your friend is about right. That is the formula that I was told when I started. Cost x 4 plus labor. Some people worry that as you get better, there fore go faster, your cost will go down, but as you get better, the cost of labor is more.
Hope this helps, Tammy
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Don
Cave Dweller
He wants you too, Malachi.
Member since December 2009
Posts: 2,616
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Post by Don on Nov 9, 2012 1:40:27 GMT -5
yes, thats generally the basic formula most people follow; there is some variability in the factor that they multiply cost by. the cost multiplier needs to account for your tools, overhead, etc. Labor should not only reflect the time you spent making the piece, but the factor which you multiply those hours by should also reflect the time you invested in learning the trade, and what the value of an hour of your personal time is worth.
Make it worth your while. too many people sell themselves short and only seek to get the value of their material cost out of the finished product. This not only undercuts the market, but the seller never gets a return on the true cost of their time, knowledge and expertise, not to mention tools and overhead.
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