If you’re like me, mulling over pricing for your business usually leads to a spiral of self-doubt that can only be treated with “just a tiny bite” of ice cream straight from the freezer at 10:45am.
Pricing is hard because it’s entangled with fears about our self-worth and the viability of our businesses. Plus, pricing is technically challenging, with lots of little exceptions and loopholes and specific situations. Like these questions we’ve gotten from makers:
• I need to raise prices on my necklaces but I’m afraid folks won’t be able to afford them.
• My main competitor just dropped her prices by 20% -- what do I do?!
• I want to lower my prices but don’t want people to think it’s not a handmade line.
• Should shipping be included in the price?
If I price too low, I’m worried my line will be undervalued and I won’t make any money. If I price too high, I’m worried no one will buy and… I won’t make any money. If I price too low, I feel resentful and worn out and foolish. If I price too high, I feel fake and greedy and... foolish.
When it comes to pricing, we work through these pricing questions every day, on a case-by-case basis, taking into consideration makers’ competition, past prices, costs, and goals. Every situation is different, but I do tell all makers one thing:
If your price isn’t high enough to cover costs, eventually that will be bad for your customers, in addition to being bad for you.
If you’re not covering costs, there is no room for developing new designs. There is no room for maintaining quality when materials costs go up. There is no room for the sustainability of your business over the long term.
Setting the price for Wholesale In a Box is no different. How did we set the original price of $99/month? Well, two years ago when we first started, we asked makers what they thought they’d like to pay for the service, and we made it that price.
Recently, we decided to increase the Wholesale In a Box price from $99/month to $119/month. This is for two simple reasons:
- The value that most makers get from working with Wholesale In a Box is worth far more than $119/month, in business coaching, wholesale guidance, time saved hunting down stores, and new stockists gained.
- $99 isn’t really enough for us to cover our costs. Nothing we do is automated or on autopilot. We work with every single maker one-on-one at a very high level of professional business coaching. We also hand pick every single store, for every single maker (putting it through a gauntlet of tests before offering it to a maker), constantly updating store data to make sure it’s accurate, and developing training materials every month.
If you’ve been thinking about working with us to grow your wholesale business, now would be a great time to give it a try, since we’re offering the “old price” for the next 5 days. After that, all new signups will be at the new price.
Mini-FAQ About The Price Change:
What is the price changing to?
When does the price change?
11:59pm on Tuesday, June 6th
I’m interested in signing up with you. Can I get the $99/month?
Definitely! If you sign up by 11:59pm on 6/6, you will have the $99/month price for the lifetime of your subscription.
I’m a current customer with you. Will my price change?
Absolutely not. Any maker who is currently working with us will have the same monthly price as long as they stay subscribed with us.
What about the “cultivate” plan -- does that stay the same?
Yes, once you’re a customer with us, you can choose to downshift to our $49/month “Cultivate” plan, which gives you access to the online system, all your store leads, and lets you manage current stockists, but doesn’t give you new store leads to reach out to.
Thank you for being on this journey with us. Let us know if you have absolutely ANY questions about the price change or about Wholesale In a Box -- just send us an email and we’ll get right back to you.