Production Costs

My necklace was made from items I found around my apartment and lucky enough they were all really cheap items to begin with so it wasn’t difficult to reduce the cost of the item. The ornaments were $1 for a tube of 16 and I only used 6 so they only cost 38 cents! And the string I used was from a gift bag we got in the mail so it didn’t cost me anything.

I simply refined the construction process so it only takes 15 minutes instead of 30 and that brought the total production cost down from $5.28 to $3.49. Since I made the estimated retail price $10, the new wholesale price needed to be $5 or under so one simple change in production time was able to reduce the cost significantly.

Had my materials been more expensive it could have been slightly more difficult to reduce the cost because although you can look for cheaper materials you don’t want to¬†forget about quality. Sometimes cheaper means they skimp out on the quality.

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necklace