Costing and pricing your pieces
- 13 Jul 2021 · 10:00AM - 1:30PM
- £79 (20 places), Bookings close on Mon 12 July 2021 at 8am
- Online via Zoom [GMT+1]
- Event type
Costing and pricing your work is one of the most challenging aspects of being a small jewellery or silversmithing business. Get your prices wrong and you could sell too little, to the wrong people, or not at all. So how do you go about costing and pricing your latest piece or collection?
In this live online course, jeweller and jewellery business development specialist Sally Leonard, will provide you with tools and skills to cost and price your work, along with consumer insights from her own experience, and from the wider industry.
What will I learn?
This live online course has been specifically created for jewellers and silversmiths selling their work primarily in the UK (either wholesale or retail). It will focus on your own business and one of your pieces, using individual exercises and group work to open up discussion and help you apply the learning.
To further help you put theory into practice, the course fee includes:
- Spreadsheet templates to help you cost your time and your work (Please note: You will need to complete one of these templates ahead of the session)
- A document containing selected Goldsmiths’ Company research findings around consumer preferences and purchase behaviour
- The ability to re-watch a recording of the session, as many times as you wish, for one month after the course ends.
What key topics does the course cover?
- The importance of costing and the importance of pricing
- Costing and pricing as part of your business development
- How to cost your time
- Covering collection development costs, sampling and more
- Consumers and their perception of value
- How to cost and price your pieces
- How to price across your range
- The difference between bespoke and collection pricing
- How does VAT affect costing and pricing?
- Understanding wholesale and retail markups
How do I access the online course?
This online course will be delivered live on Zoom, so you will need a stable Internet connection. You will be granted access enter to the Goldsmiths’ Centre’s virtual learning environment (VLE), via which works on any mainstream web browser, on computer, tablet, or smartphone device. You will access the course via a Zoom link within the VLE. You will also be able to re-watch the recording of the course within the VLE. One week before the course begins, you will receive an email with detailed instructions on how to gain access to the VLE.
To get the most out of the course you will also need to have with you:
- One of your own jewellery or silver pieces, or a high quality image of a piece
- Completed spreadsheet containing the ‘outcosts’ for your selected piece (you will be provided with a template and full instructions for this)
Who is this course designed for?
This course has been designed for jewellers and silversmiths with no previous training on costing or pricing, as well as those who have been taught how to price as part of an FE/HE academic programme (this course will extend your knowledge).
The course is ideal for those who want to:
- Review or re-visit their costing and pricing methods
- Check their wholesale or retail pricing for existing work
- Make decisions about the costing and/or pricing of a new collection
- Switch to new market segments
- Introduce new product types
- Work with new materials e.g. develop pieces using precious materials for the first time
Who is the tutor?
Sally Leonard has 16 years of industry experience, including at the bench for her own ethical jewellery business, supporting and mentoring jewellery businesses of all ages, and as a member of various groups representing and supporting the local trade. She has been a core business tutor for the Goldsmiths’ Centre for three years, working across all our business skills programmes.