How I increase profit on my handmade products

In this video, I'm sharing some of the more overlooked ways I've increased the profit margins on my handmade products over the years. Developing handmade products with good profit margins is hard — because by nature, they're made BY HAND, which takes time, and time is a costly resource. As makers, we forget that all the time because we get excited and love spending time on our work. But you've got to make strong enough profit margins to keep doing what you love, so it is important to pay attention to your margins. I've done just about all of these myself at one point or another, so I know they work! TABLE OF CONTENTS: 0:00 – Intro 1:18 – What are profit margins? 1:36 – How to calculate profit margin on handmade products 2:31 – Method #1 to Increase Profit Margins: Batch assembly 4:22 – Method #2 to Increase Profit Margins: Bulk ordering supplies 6:07 – Method #3 to Increase Profit Margins: Bulk ordering manufactured products 7:37 – Method #4 to Increase Profit Margins: Price-shopping your vendors 8:42 – Method #5 to Increase Profit Margins: Consider outsourcing 12:13 – Method #6 to Increase Profit Margins: Reducing product packaging 13:39 – Method #7 to Increase Profit Margins: Reducing shipping packaging 16:17 – Method #8 to Increase Profit Margins: Reducing the number of products you sell 17:53 – Method #9 to Increase Profit Margins: Increase your prices 19:57 – Keeping a balanced perspective 21:07 – Outro All my links Shop my handmade products: https://www.phoenixsupply.co/ Join my email list: https://www.phoenixsupply.co/mailing-... Follow on Instagram:   / phoenixsupplyco   My Amazon storefront: www.amazon.com/shop/phoenixsupplyco My design channel:    / @strongdesignstudios   ** A little more about me ** I'm a left-brained designer and maker based in sunny Arizona. I run a brand design studio by day, and a handmade product business by night. On my channel, I talk about all things handmade business and maker life (with a dash of design insight every now and again). I share actionable (sometimes contrarian) tips & tricks that I've learned in my journey, as well as fun behind-the-scenes content. For business inquiries email youtube@melissabalkon.com The Legal Details Music licensed from AdobeStock to Strong Design Studios Links may include affiliate links