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Pricing labor for ink pens (Read 1,039 times)
 
Steve Law
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Pricing labor for ink pens
Dec 30th, 2014 at 11:15am
 
Hi all,
Recently turned several cigar pens for a friend who provided all materials and kits. What does one charge for this kind of work? I don't normally turn pens so lost on this.
Appreciate any help.

Steve
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JimQuarles
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Re: Pricing labor for ink pens
Reply #1 - Dec 30th, 2014 at 1:08pm
 
For a wood Cigar, I charge $45.  The kit runs about $8, and wood less than $2.  That leaves about $35 markup for labor, marketing, and tool depreciation.  YMMV
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« Last Edit: Dec 30th, 2014 at 1:08pm by JimQuarles »  

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Re: Pricing labor for ink pens
Reply #2 - Jan 1st, 2015 at 12:51pm
 

I tend to use a bit better materials than Jim --  but I always figure that my time is worth at least the minimum wage to me -- and when involved in a commercial venture try to get at least that much for my time.

The "friend" factor comes into play and I hate doing paid work with a friend --  we always have an in-depth talk if it is a real friend (vs the Facebook kind).



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Ed Weber
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Re: Pricing labor for ink pens
Reply #3 - Jan 1st, 2015 at 1:21pm
 
The price, is the price, is the price, period.
As Jim said, you need to figure your shop expenses, time, labor, accessory materials, marketing, tool depreciation and so on. That cost will not change too much or too quickly and must be covered before any profit can be figured.
When someone pays for your labor only, he is not just paying for your time he is paying for your knowledge and craftsmanship, otherwise he/she would most likely do it themselves.
Figure out an hourly rate for yourself and stick to it, friend or not.
Steve Law wrote on Dec 30th, 2014 at 11:15am:
I don't normally turn pens so lost on this.

If you turn more pens in the future and gain proficiency, it may be better (profitable) to set a price per pen.
There is certainly much more to be considered but these are just some of the basics
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