For this homework assignment for Parsons Teen Vogue, I created a Chan Luu bracelet and have calculated the production costs for the item.
I no longer sell these bracelets on my etsy store, although I used to. It was interesting to break it down and really look at all the money that was going into the production as well as a decent markup that I would have to consider if I wanted to be making a profit.
Turns out, I had been selling the bracelets for far cheaper than what they are actually valued at. I was more worried about making the prices seem reasonable for customers that I was actually losing money when all was said and done.
Here is my breakdown:
Leather cording: 9$
Metal clasps: 4$
Metal clamps: 4$
Total Production Cost: 30$
20% Profit: 6$
Total Production Cost & Profit: 36$
Estimated Total: 40$