Wrapping up our look at Fair Trade is Fair Price, aka Radical Transparency. You may all have noticed a jump with the first release of 2018. You may also have noticed this isn’t restricted to Knit Eco Chic as many designers post articles with “the true costs” of producing patterns. Since so many have covered the topic, I’ll be addressing it more personally. My price change was completely coincidental to the knitting industry at large as it’s something I spent over a year thoughtfully assessing prior to incorporating it into our look at Fair Trade.
After nearly 7 years in the business, diversifying through offering photo editing services, first to other indies, then to the greater business community through Upwork and cutting costs in every area possible, I realized that my flow chart on my “FAQ” page wasn’t working.
I firmly believe in a zero-debt business, meaning all 3rd party contributors to the publication process are paid prior to personal remuneration. During this assessment process, it became clearly evident that not even 3rd party contributors were being covered by the pattern sale amount!
Supporting the designs through other self-employment means is clearly not fair trade! Consequently, I had to stop, slap my own hand, and realize the time, creativity, and intellectual property I bring to the design world is of value. After much math (ugh), I discovered what this value should be.
I created two new price structures… one for accessories and one for garments. Accessories are now available between $10-15 (+/-) and garments (once I publish one) will be available between $18-24 (+/-). Assuming my rate of sale and my 3rd party costs remain constant, I should be able to cover the 3rd party costs of production at this level. As my sales volume rises I’ll be able to take a fair wage for the time, creativity, and intellectual value I provide with each pattern.
Because I value you, I’m also switching how my sales work. My brand ambassador program remains in place for anyone interested! “Free patterns” are available via the test knit and knit review offerings. Additionally, Puddles will be sending out a special short-term coupon code with each new release to newsletter readers!!
Finally, Puddles is starting a paws rewards program. This is an opt-in program. Make one full price purchase of any 2018 new release and send me an email that you’d like to join the rewards program. Puddles will respond with a special coupon code you can use on future purchases until the end of the calendar year. The more you purchase the greater your percentage off will become up to a surprise set percentage. (The coupons work on Knit Eco Chic and Ravelry only as Ravelry is the only platform that currently allows for codes.)
Thanks for reading, following, supporting, engaging, and happy knitting!
always wondered how one would figure out prices! sounds like a complicated process but agree, running debt is no good and you need to make money too! and good morning Me Puddles – you have an important job too ?
Thanks so much for the support, Torre! Yes, since I don’t offer a yarn line, it is much more difficult to figure out. But I’m praying that the price change is the final missing piece to Knit Eco Chic’s success. Puddles sends tail wags and Great Dane leans.