Pricing your woodworking tasks. Shaker Tables Pricing Instance

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On episode 11 of The Towards the Grain Podcast hosted by Man Dunlap, Justin Dipalma, and Freddy Roman we focus on how every of us worth furnishings.
But when our opinions weren’t sufficient you additionally get to listen to and now see Shawn Van Dyke the superb enterprise coach share his experience with us on pricing a pair of shaker night time stands.

Please observe Shawn kindly produced this video for us on The ATG Podcast and he owns all of the rights to this video. I’m merely sharing it for the podcast and for my private weblog.

Hyperlinks:

Shawn Van Dyke Instagram: https://www.instagram.com/shawnvandyke/

Shawn’s Net Website: http://shawnvandyke.com/now/

The ATG Podcast Episode: https://www.theatgpodcast.com/introduction-of-our-podcast/2017/11/30/episode-11-pricing

Comments

Alex Samaniego says:

U didn't add tools you need to do the job sand paper ect.

Nautilus20 says:

Yup. Sounds like somebody has been shopping at Jerome's and got a compressed wood and wood veneer table. Ha!

Buddy Floyd says:

You did not add in shop overhead. Shop overhead is insurance, heating and cooling, Taxes, electricity, rent or cost of the building and maintenance.

SCOTT HARRISON says:

700 for a small end table i mean i get it but go to ikea and spend 100 to 200 and get you same size table may not be real wood and so on but i dont see people suggesting real wood and cost over budget wood junk

John Dillinger says:

Why was this video so entertaining?

Romelia Polly says:

Try to make it with woodprix plans 🙂

The HandToolery says:

Some of the very involved pieces I have made for myself or for family, people have asked if I’d sell them. I them of course, but you’ll think I’m crazy when I quote you my price. Of course people think the value is in the lumber or in the hours, or even the other tools/materials costs. That all counts. There is also the expertise needed, the quality, and of course the market for the piece. These tables are $1250 for one customer, $3500+ for another, and then someone else still can’t imagine paying $500 for the pair. Value is subjective as many people have commented. Thanks for this informative video that gives some good consideration to valuing and pricing one’s work!

Lostinthewoods Smith says:

Hi, I haven't seen the other podcasts.  Just this one.  As a woodworker who has years experience I thought the video was really funny.  Your approach is classic text book for marketing.  Which is why a lot of people who want to start a business based on text book methods fail.  Like you, the typical professor, or writer, or youtuber you talk about something of which you have no experience.  But I give you credit… you said that up front.  You didn't BS like most.  The overall fair market for one handmade table would be about $500.  I have built shaker tables almost identical to what you showed. I wish I could produce product at the rate you indicate in your time frames.  Also when making a handmade wood product from scratch the rule of thumb is work in terms of third's.  For every piece of raw wood 1/3 will be lost to dimensioning.  One third of your time will be used prepping wood, i.e., dimensioning, one third assembly, one third finishing.  Almost every time each task will take about the same amount of time.  And price based on 3's, i.e, whatever the total cost of wood for the project multiple by 3 for the final price.  This covers materials, g&a, overhead, and profit.  It also gives the customer a fair market value.

Nicole Garcia says:

It's a good system but wrong pricing. But it is a good way to price things.

Paullyb79 says:

I will be sharing a link to this video whenever a friend asks me to make them something. Maybe they will appreciate the bargain I am giving them. Maybe.

T N says:

I like to know who this guy is getting Lumber

Romelia Polly says:

This time I will use woodprix instructions to make it.

Rob Nos says:

Hi, do you often price out some one off pieces? Are these specific orders? I would think batching even 3-5 tables would be so much more beneficial and still keep your profit up.

Stelios The Greek says:

great tips! Thanks

Anthony Seegmiller says:

That’s WAY too much for a tiny table that has almost no room and no lumber used. If someone can find someone to buy for that much share the secret

Over the edge says:

This is why everything comes from China. Who the hell, would pay that, for two small tables, with almost no material? And your paying your people for $35. an hour.

Bill McCaffrey says:

No shop overhead (building, tools, utilities …), no cost of sales (how much work to get the order), delivery cost, … so on and so on. I guess it all depends if you are fulfilling a hobby and trying to build a business. The IRS will remind you of the difference real quick, and TAX is real.

tim197163 says:

0 tables sold = $0 lol

David Boardman says:

I might have missed it but I didn’t see anything on overhead. What about wear and tear on equipment? Saw blades need sharpened, belts break, etc.. I listened to the podcast and it was great. You guys touched on it but there wasn’t much in regional costs. For instance cherry is expensive here in Georgia, sometimes it runs me more to buy cherry than walnut! It’s hard to give truly good price estimates because of regional price differences. Your shop in Mass likely costs your double of what my shop in Georgia runs me on month expenses, that adds up so just like you guys said with cost of living and higher wages in NYC can help you demand more the lower costs of space in areas force prices down.

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