Pricing PiecesPricing jewelry pieces is one of the most important aspects of running your handmade jewelry business - making sure you know exactly what you have spent on a piece and taking that into account when deciding on a price. Beadia helps you with this task in a number of ways.
There are two values for each piece which provide valuation information:
- Parts value: Parts you have added to a piece have a unit cost - by recording how much you use of each piece you can see at a glance the total component value of a piece. You can either specify a unit cost for each part yourself, or Beadia can suggest a unit cost based on either the maximum or average price you have paid for your inventory of that particular part.
- Sundry Costs value: Sundry costs, such as packaging, consumables or time, also have a unit cost. You can specify how many of each sundry item you have used and the unit cost for each one.
Beadia takes the Parts and Sundry Costs values of a piece and applies a markup percentage you specify to the total to suggest a value. You can either use this suggested value in up to four different pricing levels, or you can use your own price.
Each part in your inventory has a default unit cost. This can be one of three values:
- Specified - a specific unit cost you enter in the detail pane for the part, in the Default cost field;
- Purchase maximum - the maximum price you have paid for the part, taken from the purchase records associated with it. This is useful for parts whose value fluctuates owing to changes in commodity prices, and whose value at the time you use them may not the what you paid for them;
- Purchase average - the average price you have paid for the part, taken from the purchase records associated with it. This is useful for parts whose values does not change as a rule, but which you may have paid slightly different prices when purchasing them.
When you add a part to a piece Beadia uses the default unit cost. You can accept this cost or change it to your own as required.
Download Beadia now and see how it can help you run your jewelry business.