Knitting For Profit

kurtys's picture
mrhugzzz's picture

Well, I have to throw my 2

Well, I have to throw my 2 cents in the ring. At the possibility of making a lot of enemies - being a newbie and all - I have to say that all but one of you guys are nuts! Kilgoretrout has a great point. If you go to Ravelry you'll see that they return 99.4% of the money from patterns to designers. The simple fact is that I would guess maybe 5% of knitters are likely to design their own stuff. That means as long as you take notes when you knit something, you can make a hefty profit from letting others knit it too.
Also, I disagree with most about not being able to sell things for what they're worth. We live in a society where women will spend $500 on a dress for New Year's Eve, celebrities spend $1500 for one hour of personal training, and I don't even want to get into what women spend on shoes and jeans! The market is there if you know where to look for it. You'll never sell a scarf for $125 (my starting price) at a craft fair, but if you go to a nice boutique, see a fashionable dress in the $400 range and make a nice adornment in a good quality fiber (which you buy at less than retail), you can ask the owner to display it with the garment. You can negotiate with them for a reasonable commission when it's sold. Make sure it has your label sewn on it and some sort of contact information (I use special care instruction cards). After a while people will contact you directly to commission pieces.
Yes, it can take a while and yes, it's hard work, but in the end it's worth it. Just think, would you pay a skilled tradesman anything less than $20/hour for their work? Then why devalue your own?
Hugzzz 8-)

bkeith's picture

Hear, hear! I have to give

Hear, hear! I have to give that sermon in the cake world all the time. Much like with knitting, a lot of folks get into it as a hobby, and if the sell anything initially, they consider it a success if they cover their costs. Problem is, customers get used to the fact that you devalue your own work, so they're more than happy to devalue it along with you.

I know I lose a lot of business by charging what cakes are worth, but I figure that's business I really don't need. I'd rather have the extra time for knitting. ;)

teejtc's picture

I don't knit for profit, but

I don't knit for profit, but I have tatted for sale, on occasion. Here are my few suggestions:
1) Never... ever... EVER figure out your per-hour income - You will never come anywhere close to even minimum wage selling "crafts"
2) Try not to ever sell for less than the cost of the materials
3) Set your prices around the minimum you're willing to part with the piece for. For example, if you spent $40 on materials and 40 hours... you may be willing to part with the piece for $50... maybe not. Decide your minimums early.
4) If you actually want to make money.. try to limit yourself to low-cost, high sale items -- usually smaller things. If you spend 3 hours and $10 on making a hotpad, you may be able to sell it for $15 dollars... but if you spend 40 hours and $40 on something you probably won't be able to get $100 for it (make sense)?

Grace and Peace,
`tim

Bill's picture

Profit? Yes, but not

Profit?
Yes, but not mine...
organic cotton yarn for baby blanket..$100.
Pottery Barn organic cotton baby blanket..$40.

yarn for tall socks..$60.
purchased socks..$12.95

MMario's picture

gifts knit for baby -

gifts knit for baby - priceless.

MMario - ambiguity is cultivated, it doesn't happen in a vacuum!
http://groups.yahoo.com/group/MMarioKKnits/

Bill's picture

I figure stuff knit by the

I figure stuff knit by the GRANDFATHER is rare..LOL

BuduR's picture

LOL I'm sure someone is

LOL

I'm sure someone is making a profit off my knitting, Addi, KP, Debbie Bliss, hundreds of online sellers. But me? nah.
MWK's Token Estrogen-American

KilgoreTrout's picture

I don't knit for profit but

I don't knit for profit but I design patterns for profit. The pattern can be sold again and again, while the knitted pieces can only be sold once :P

YugiDean's picture

I knitted a hefty number of

I knitted a hefty number of scarves and sold them at a local boba tea store nearby. Does that count?

You did that on purpose to

You did that on purpose to "pretend" to be two different people!! I think Mario is right.........hmmmmmmm.

QueerJoe's picture

He also tried to throw us

He also tried to throw us off by parting his hair on the other side (or reversing the picture in PhotoShop).

Clever boy(s) Yugi and Kilgore.

HAH! I expect PhotoShop will

HAH! I expect PhotoShop will be working overtime to further the deception.....move over PetShop Boys, we have our own PhotoShop Boys~!