Hello Everyone,
I am brand new to the engraving and am having difficulties with pricing of services and products. Lost my job after 21+ years and now trying to make a living at it like the rest of you. Previously, I posted a question on how to price out electrical panels tags and with everyone's input and suggestions the project was very successful and profitable. Thank you everyone who contributed.
Now that I have a shop and my doors are open full time, I have customers bringing their own products (mugs, phones, iPods, glasses, bottles, you name it) for custom engraving. Quantity ranches from 1 and up. Then there are the retail products; trophies, glasses/mugs, plaques, signs, medals, name tags, custom laser jobs outside the scope of those mentioned in the first paragraph.
I HAVE NO IDEA WHAT TO CHARGE!!!! Boy I need a ton of assistance in this area. If you would like to confidentially share you price lists, hourly rates, suggestions, or ideas you can email them to me or post your suggestions here. (side note: I am the only engraver and trophy dealer within a 50 mile radius. So competitor down the street is not a factor at this time.)
Here is an example: Lady brings in two 25oz Mugs. Design is pretty simple, just text on an arch with simple text below the arch. Design takes about 20 minutes to create. Test engraving on scrape to make sure design will engrave without any hitches. Engraving on mug takes about 6.5 minutes.
What would you do?
Patterson Engraving wants to be fair and reasonable with pricing and be a successful business. Is there such a thing?
Any help would be greatly appreciated. I would rather make a living engraving than to go back to work for someone else.
Thank you in advance for your help.
Chuck Patterson
Patterson Engraving