Business Related question - How do you figure your price??

[Dalton Masterson]

Howdy gents.

Without getting into details as to what you charge, how do you set your price for gear?

Do you have a set price for a basic holster, and then add a certain price for embellishments?

Do you count your time? I couldnt charge for time myself, as it sometimes takes me forever, but I am also a hobbyist and try not to get into the time constraints too much.

Do you figure in your leather cost and materials? I cover my costs as far as that goes, but the hard costs are not foremost in my mind.

If you would be willing, I would be interested in an example of what you charge for a basic holster and belt, so I can get an idea. Keep in mind, I dont want to undercut anyone and bring bad business practices into this wonderful forum relationship, but I have a feeling I have been very low on a few projects in the past, and would like to figure out how to get more out of my stuff.
Just PM me the info, if you wish, so it doesnt pollute the forum.

Thank you, DM

[cowboywc]

Howdy Pal
Every year I search a bunch of web sites and adjust my prices to be in the ballpark.
WC

[GunClick Rick]

All i know is ya gotta pay yourself first,so much per hour.Another thing is you guys outta get a bunch for what you do,made in the U.S. and quality you can't find anymore..Cept here of course

[outrider]

Ditto to what WC said.   I check around and see what things are selling for on other web sites then adjust accordingly...I try to price based upon $25.00 per hour (if it's a small job) larger jobs...depending upon what it is

[Dalton Masterson]

Thanks guys.
I have a few catalogs from some of the bigger names, and a few of the more local guys as well. I have tried to be somewhere in the line of the local guys, but definately need to do some adjusting for price on my end.

I am assuming you have a set price list for items as well?
Ie. Belt = x
plain holster = x
belt slide = x

Gosh, I am just realizing I am very disorganized...!!!!!
DM

[GunClick Rick]

One of the reasons my artist friend Ivan Jesse Curtis starved in this area.His originals would go from 3,000 and up,but in this area very few people spend that kind of money,so he had to travel alot to sale his paintings.The price of materials must kill you guys makin leather

[Jim in Tucson]

Caveat: I'm not a pro yet, and it'll be a while, but I can see it happening at some point.

So far I've just made a few for friends (given away or in one case, cost of materials) and of course personal gear.  Cost of materials isn't that bad at all, in my opinion.  For a decent holster, $20 or less including some embellishments, $30 if I want to get very fancy.

There's a bunch of factors involving price, all of which add up to "what will the market bear".  Sorry if that seems mercenary but...value goes up with ALL of the following:

* The rig is custom fitted to the gun - and you support some damned peculiar guns.  Some variants of Taurus Judge for example have NO holster options whatsoever.

* The rig is of a unique and desirable type...perhaps involving ideas nobody else has.

* You can produce fast work on spec.

For these reasons, because I'm in a very carry-friendly area, I'm considering trying to find a local gun shop to work with, becoming their "in house holster fab", able to make holsters for guns they stock and by appointment, have customers drop off guns to be holstered and turn them around fast once they drop 'em off on schedule.  In other words, do business almost exclusively for locals.

I think there's a market for this, as opposed to a multi-month wait in some cases.

[Dalton Masterson]

There are some good thoughts to that Jim...
I am lucky in that aspect, as I kind of do have a gun shop friend that lets me pattern off of his items. On occasion I will get to make a holster for someone (today in fact, for a North American 22mag revolver).
Your idea, in the right area, would probably be a hit. In my town, no. I have made exactly 2 holsters for locals, other than the ones I make for the gun shop. (and they go out of town or are for his personal guns). A lot of that is me not advertising locally, due to local crime rates, and not wanting everyone to know I have "hardware" in the shop.

That also brings up another question... Do you guys charge to build a holster for something you dont have a pattern for? I know a semi-local guy that charges for new patterns, plus the cost of the holster.
DM

[cowboywc]

That also brings up another question... Do you guys charge to build a holster for something you dont have a pattern for? I know a semi-local guy that charges for new patterns, plus the cost of the holster.
DM

Howdy Pal
I do not charge for a new pattern, but I do charge design time if I have to submit different tooling designs for them to choose from.
WC

[Dalton Masterson]

That makes sense to me, WC. Tooling design can eat a lot of time.

I always looked at the new pattern part as a bonus, as I then expanded my library of patterns.
DM

[Jim in Tucson]

One obvious thought: in an open-carry-friendly area, holsters that can do double duty as concealed and "decorative open carry" are going to be highly prized.  In areas where open carry is either flat banned or very uncommon, more utilitarian goods will be popular.

[Curley Cole]

It is a fact that most "artists" get screwed for the value of their time. It is unfortunate but so. I am a photographer. (hobbiest/semi professional). Folks can go and get them 1000 pictures from Sears of GlamourShots (exageration, but you gets the point). When they hire me, I can go to their house and set up full studio (back drop, lights etc.) with that ability they can take their time and even change clothes, (check out 4Trods latest pix)

Also,as with other artists, I am proud of my work and like to get it in folks hands.
I also do some jewelry work, and make indian style bone chokers. I only use real bone, glass beads and good stuff. Materials alone can cost $20 and up. look at what prices you can get these for...
Best bet is figure what you have in materials and look at the competions prices, how your quality compares, and set a price from there.

Even at that, you ain't gonna get rich as an artist.
but enjoy when someone is struttin with yer gun rig on him.

curley

[GunClick Rick]

What Curley said

[TN Mongo]

I don't do this for a living, but it sure has helped fund my cowboy gun addiction.  If I charged by the hour, very few people could afford my stuff.  The cheapest mass produced holsters for CAS sold by Cabelas and others are at least $40 each an up.  That is for an unlined, oiled finished, Mexican double looped design, or a slim jim.

The last year or so I started charging about what it would cost to buy a similar piece from Kirkpatrick.  My holsters are 8-9oz. and lined with 6-7oz. leather and are wet fitted with the guns they are made for.  My business has only increased.  Don't cheat yourself.  If you are doing quality work, you deserve to be paid for it.  However, I don't think people are willing to pay super premium prices for a piece unless it was custom made by one of the "Master Craftsmen".

I do charge extra for a metal linings, extra tooling or conchos. 

I don't charge extra for making a design that I don't currently have a pattern for.  A big selling point for my stuff is that I'm going to make you what you want.  I want customers to look at other peoples' stuff and pick out things that they want incorporated in their rig.  I've made stuff for some guys that I really didn't like (shiny silver plated conchos or initials and such) but my customers were very pleased.

[Dalton Masterson]

Thank you gents.
Mongo, I think you drove the point home for me, bringing up the point about the Cabelas oily mass production holsters.

I am gonna take some time, and think and compare, and write down what I think I can get for what I make, and then have my wife do the same thing.


That and figure what a new 38-40 Lightning is gonna cost me, then split the difference and take the square root to the 2nd power, divided by the exponential root of the color orange plus purple.

Thank you again all. This has been a help.
DM

[Wiley Desperado]

Well now don't forget one other factor and that is your gauranty. Everyone likes a good solid gauranty.  Take for example my gauranty. That my holsters and/or gun rigs will become highly valued hierlooms in 100 years or your money back to the original owner upon presentaion of the item in reasonally good condition to me personally.  Now that my friend is what I call an iron clad gauranty!! Quite a selling point don't ya think!!
Wiley

[Dalton Masterson]

Ah Wiley. That does sound like a good guarantee.
I offer free repairs, should the stitching pop out, rivets break, billets break, etc. I havent had anything come back yet, but someday I am sure stitching will rot or break. If it does, it will give me a good chance to examine how well it is holding up.
I even offer to apply dressings as needed if they dont have, or dont want to apply it.

Regarding the dressings, one thing that drives me nuts is when you hand someone their new leather, then they go and slather neatsfoot, silicone, and whatever else all over it. Yeah, I know its theirs now, but it still drives me nuts.

DM

[Cutter Carl]

Dalton,

Why not make up a book, binder or display of pictures of your work.  Your gun shop pard likes your work and you could probably work a deal to put the binder or display in his shop and give him a cut on everything sold from that display.  Maybe even make up some stock of a dozen or so holsters and belts, put then into ziplock bags and make a simple card with your name and contact info., what the holster fits and price. You could do a simple counter top pegboard display to hold the product and advertise your custom work too. 

In any business it's about getting your name out and referrals are the best.  If your pard like the stuff and starts pusking it you'll be suprised what will happen. 

[Dalton Masterson]

Thanks for the suggestion CC.
Getting customers is not my issue at hand right now tho. I usually have 3-5 orders standing, and dont want to get too many more than that, being a full time city worker and dad, and part time leather guy. It takes me a month or better sometimes to get a project done now, where before I could do a rig in a weekend for the most part.
But, I do have a book made up, and you are right. I should make up another book to go to his shop so he can refer with illustrations.

Thanks again, DM

[Farmer]

I'm having pretty good selling success on ebay. I've sold for probably $3000 in the last 3 months. I think my stuff is wayyyy underpriced,....but I'm currently just trying to keep it self-sustaining. You can't help but make a profit actually,..I mean look at it like this:

I buy a side of leather for appxy $200.

From this side,..I sell a belt and holster rig,.....my price is 199.99. So right there,...I've covered the bulk of my material costs.
Now,....I can make about 3 or 4 complete single holster rigs just like the previous one for 199.99 each. AND THEY SELL AT THAT PRICE.(faster than you can make them.),...and also I will make about 5 or 6 knife sheaths for commercially available knives,.....each ranging between $20 and $40.

So all told I can make at least:
4 gun belt rigs @ 200 = $800
4 knife sheaths @ $20 = $80

I can make $600 on a $200 investment. And I have done it a few times so far.

Now I end up with some scrap,..I turn that into sheaths and bracelets,..spur straps,...and all the proceeds from these,..covers my dyes, spots,conchos,etc,......

I realize that I'm not accurately defining my value as an artist,....and I'm not figuring my timeinvolved,..but I do a lot of my work at night,..while i'm watching king of the hill,......or family guy,...or otherwise something I'd be doing anyway,....so it works out well.

I always have leather on hand and materials,......and I get to do what I love anyways,..so it's a win win.