OK, here is where we left off last month, with the first piece of my line done --
you can see that post here The Build a line challenged is hosted by Brenda Sue and her wonderful full line of brassy goodness B'Sue Boutiques . If you want to learn more about the challenge and it's overall group goals you can check out B'Sue's blog posts on it here.
The part of the challenge I"m really focusing on this month is making jewelry deliberately at certain price point. I really want these Broaches to be fun and affordable, the warm-fuzzy piece you pick up because it makes you smile.
One of the things we have talked about during this challenge is our line can be a pyramid. The basic idea is you will have have a few expensive, draw people in type pieces , and then a broader range of pricing for everyone.
I've made my pyramid in 3 steps.
The base and foundation of my pyramid is the less expensive pieces, the bread and butter of any business. (It's what I like to call the impulse level of jewelry.) Specific pricing depends on the artist & where you sell of course, but this range for me is $15-30.00 . It's what you might spend on yourself or your friend as a pick me up, and it doesn't break the bank or make you feel guilty. Most of my earrings fall into the base, and I try to make all of my rings and pin/ broaches fit in this category as well.
The middle of the pyramid are the pieces that sell $31 to $85.00. This would be bigger pieces, like necklaces or bracelets. The top of the pyramid would be OOAK pieces , statement pieces, and commissions.
I think it's useful to think about structuring my jewelry pricing in this way. Looking around at my inventory I've more or less been doing this already.
|This is what my work table looks like while I'm riveting pieces together.. a mess!|
The part that is new about using a pyramid is the idea is you would have a couple of overlapping designs in your line, and you would "dress up" or "down" to hit the different levels of the pyramid. I really like this idea, moving up and down the pyramid to achieve a good mix of pieces and pricing.
Toying with that idea, I need to get my broaches where I can price them around $25.00 and still make a profit.
The problem is they take so much time.
The first one I made, my "prototype" took 64 minutes to make. I need to get my time investment down to 30-35 minutes each piece.. or I need to sell them at a higher price. So this week I've been making them, changing a few things, trying to get my time down. The other possibility is making them simpler by using fewer components. ( which would also probably knock time off the project as well)
As much as I love the draping chain, that sucks up bunches of time to get it to hang just so. So my first modification was to drop the chain. I really don't like that look.. it makes it too simple and the chain is one of my design elements I really wanted to have (chain, watch face, heart, pearl drop) , so I played around and decided a small tassel with one large pearl incorporates the chain nicely, and it's much faster and cheaper to do. I don't think it looks bad, but as you can see it leaves the broach still looking a little plain .
So I decided to add one more element, a small clock gear.
. I think this one is my favorite so far. Course blue is my favorite color!
My time is still running higher than I wanted, so I think I will just price them at $30-32.00. I just can't get the time lower than 45 minutes and still do a good job that I'm proud of. The idea is to have a variety of price points, not to cheapen your product!!
One other thought I've had, start with a smaller base. I might be able to simplify the design and it won't look plain since it's smaller. Hm.... that bares further thought.
So here are the 4 completed broaches so far:
I think they look very cohesive in a group! Which is the point, right? My plan for the next blog is to work on at least one other level of the pyramid and still look like it belongs with the broaches. I have some ideas lurking around my brain-box as I type!!
NOW!! for the fun part.... it's time to blog hop!!! Here are my class mates.. be sure to stop by and check them out and see how they are processing the class info. That's surely the most interesting part of this challenge... seeing all the different ways people take the information and run with it!
Brenda Sue Lansdowne, B'sue Boutiques
Mary Katherine Deis
Jennifer Merrill Williams
Denise Lussier Poirier
**** Kat BarronMiller <<<<< you are here! ****