7 Easy steps to calculate how much your product will cost.
Last week I was working with a Lancaster University student Oliver Bradley-Baker who is a first year Art student and a talented film maker. You can see his show reel here.
Ollie and I were discussing the challenges of potentially starting up, costing your work and knowing how much to charge, to ensure that you are covering your overheads, your job or material costs and earning the right price for your time and your talents.
In their series ‘Create a business you are proud of’ the Design Trust have written a really helpful series of articles on subjects ranging from, calculating how much your product or service will cost, to different ways to price, how to handle clients who say you charge too much and the one I like is ‘how to avoid being a starving creative.’
The articles are really helpful, but to work on your figures and the different iterations of your costing options you need a tool to play with. What I came up with is attached. It has been sanity checked by a few business and numbers people so it should be good to go.
Any feedback always welcome – warts and all!
Thank you to Patricia van den Akker at the Design Trust for the great on-line article that helped me to put this together. The Design Trust website is well worth signing up to for advice, competitions and other forthcoming opportunities.