June 4, 2011

Back to Beading

I had some free time today (first time in weeks, wahoo!) so I got out my beading supplies and decided to take a crack at the seed bead nets I wanted to try. After about six hours, and one false start, I finished with this:

Seed Bead Net

I’m very happy with how it turned out, especially for a first attempt. Well, technically second. If you want to try this, I recommend using a beading string rather than any kind of wire or cord, and size 10 needles. For my first pass I used a translucent beading wire, but the wire held its shape if bent, which ended up emphasizing all my mistakes. I’ll post a tutorial later, I plan to make a few more first so I’m sure I’m not leading anyone astray with bad ideas.

About two months ago I talked about the profitability of Etsy stores, and the difficulty of turning a real profit. This project serves a perfect example. Let’s ignore material costs, which were pretty negligible. This net took me 6 hours. Using the 30K a year target, I’d have to charge approximately $90 in labor costs. If I omit the the time spent down a bad path, and the assumption I get faster with practice, I might able to get away with charging $45 in labor. Yet, a search shows they sell for between $5-$35. If I set my price to $35 to match the high end, then my hourly rate gives me $23K a year. And that is, of course, assuming I sell well – 857 to be exact.

Even though I know exactly where the $35 price tag comes from, I still can’t help but think the price is too high. I couldn’t see myself shelling out more than a few dollars a piece for a bead net, and I’m sure many of you feel the same way. At the current rate it would make it one of the most expensive ornaments on our tree. As cool as I think the net is, it isn’t the coolest ornament we have. As with all things combining internet and profit, you have to be in it for the fun, not the money.

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