I want to sell chunky warm blankets, but I’m not sure how much I should charge for them.

by sdossantos97. Posted on Sep 13, 2020    8    8


I figured since fall/winter is right around the corner this would be a nice idea to sell some nice, warm chunky blankets that everyone loves buying at the store.

I’ve done my research on the type of yarn to use and how much to use, and it’s very expensive (like nearly $300 for 5 pounds of yarn that you need to make one giant blanket!) I’m conflicted because of course I don’t want to charge people damn near $100 for a blanket, but if i’m spending that much money for just one blanket and even IF I were to sell them for $100, I feel like there would be no profit there.

edit: did some more research, handmade chunky knit blankets are usually $100+ so that makes me feel better haha. I think I can do this!


Comments

spencer_kirkham 1

Well...

  1. Find a really, really cheap yarn supplier. Buy enough to make quite a few blankets. Let's say that you can make each blanket for $50 (labor cost, and material). Then, what you want to do is sell them. Make a store on Etsy or Amazon, then sell them. If you sell each blanket from $120- $200 (Yes, I have seen many blankets going up to $400-$500 range. They are expensive and will get even more expensive if they are handmade). So, you can make anywhere from $70-$150 profit. And, the great thing is, is that they sell like hotcakes. The market from them keeps on growing and growing. If you become reputable enough and get enough good reviews, then your SEO improves, and you make more sales. ALSO: I RECOMMEND THAT YOU TRY TO SELL FOR $200 EACH. IF NOT, YOU WILL BE MAKING VERY LITTLE TO NO PROFIT. WHEN I SAID $70-$150, I MEANT THAT'S HOW MUCH YOU WOULD HAVE MADE. NOT ENTIRELY PROFIT. YOU STILL HAVE $50 TO BUY MATERIALS FOR THE NEXT BLANKET. IF YOU MAKE $70- $50 COST, YOU ONLY MAKE $20 PROFIT. SO, I RECOMMEND THE $200-$50 FOR THE BLANKET= $150- $50 FOR THE NEXT BLANKET= $100 PROFIT. NOW YOU SEE IT IS ONLY WORTH IT WHEN YOU SELL IT FOR MORE.
  2. Get an employee. I wouldn't necessarily recommend this until later, but you still need someone to help you. If you do the work yourself, then what happens is the bigger, more reputable companies will put you out of business. You have to keep up with the demand. Even if the employees are family members, you need them. You can pay them later on, or if they enjoy it and don't insist on anything, then they are doing it out of the kindness of their hearts. If you don't have any family members that are interested, then you can hire a friend, for really cheap (maybe $100 a month). I don't recommend this until you have at least 25 sales. Then, you have the money. If you get 25 sales, at $200 each, then you have $100 profit. That's $2000. If you get those sales in a month, then you pay someone $100. That's $1900, in your pocket, every month, if you make those sales. Then, maybe you hire another employee. Over time, this business can become scaleable and profitable.
  3. Advertisement. You need advertisement. Without sales, you have no employees, no profit, nothing. Get the word out, on Facebook, Instagram, Tiktok, anything you can imagine (that isn't a dead social media platform). You don't personally do the advertisement, but you find someone in that Niche. Personally, I would try to find a more specified niche. If you wanted, you don't want to go anything more general than home decor, or something like that. But, like I said, try to stay more specified, because you will get more sales.

    I hope these help. I wish you luck.
  sdossantos97 1

thank you so so much for this advice!!

dcollette 1

How much is your time worth? Be sure to pay yourself

  sdossantos97 1

I’m not sure how exactly to calculate that. I do know that the amount of time I spend on them depends on the size of the blanket

Gutinstinct999 1

Hey, I’ve always wanted one of those! Do it!

Also I saw one at target in the fall, these are gaining traction!

AlexaSkillsDev 3

Did you check similar listings on Etsy? Also, look at cheaper yarn suppliers. It looks like mark up on hobby items is crazy in the US. I Would check AliExpress at the minimum.

  sdossantos97 2

I just checked etsy, the yarn I need is definitely a lot cheaper there 😂😂

Awakeat5amagain 7

3x cost of goods is a general markup