Retail cost = Etsy Price/Shop Price

Materials = £5

Hourly Rate = £10

Example:

Item takes 15 minutes to make that's

£2.50 (for time) + £5 (material money)

= £7.50 (item cost)

Cost price is £7.50

For your wholesale price you times the cost price by 2

Example: £7.50 (cost price) x 2 = £15 (wholesale)

The RRP (recommended retail price) is wholesale x 2

Example: £15 (wholesale) x 2 = £30 (RRP)

Set what's best for you and your company. Whatever you set your cost price at can be changed to suit your target audience but be consistent with your brand ethos. Don’t underprice yourself to get sales. This only leads to people taking advantage.