How to price your knitwear?

Deciding how to price your knitwear is a topic that comes up often amongst designers. So much time and money goes into the development of a knitting pattern: how can we make it profitable? One way is to align your pricing strategy with the real costs of knit manufacturer.

Pattern pricing is an important factor in creating a sustainable business model as a designer. Even if you don’t intend to make a living from your knitting pattern sales, you should still be able to make a profit from your knitting patterns.

This article is going to discuss how much you should charge for your knitting, and we will have a look at how some successful, professional knitters price their hand knit garments.

1. What Kind of Pattern Pricing Appeals to You?

There are three options when it comes to your pricing:

• Low Pricing

  Your patterns will be more accessible to those on a low-income. In order to make a profit, you will need to sell more patterns than you would if you’d priced it higher.

  
  

• High-End Pricing

  Premium pattern prices require a premium service: high-quality photos, in-depth information and outstanding customer service. You will need to go above and beyond what other designers are offering.

  
  

• Mid-Range Pricing

  The patterns are affordable: neither high-end nor low-cost. In order to increase the profit margin, you could increase prices slightly or build a community in order to increase the volume of pattern sales

2. Set a Pricing Structure

Don’t make the mistake of pricing all of your patterns the same. Simpler patterns should have a lower price point, whilst more complex patterns should have a higher price point.

3. Look at the Numbers

Have a think about how much profit you would like to make from this pattern release. Take into account your expenses from pattern development, such as material costs and tech editing.

How many patterns would you like to sell in the first month? If you have released a pattern before, consider your numbers from previous pattern releases. How many sales are realistic?

Based on these numbers, you can get a feel for what to charge for your knitting patterns in order to make the profit that you want.

4. What are Your Competitors Charging?

Take a look at their patterns and note what they are charging. It’s useful information to help you make your decision.

5. Confidence

You need to choose a price for your knitting patterns that feels good to you; that reflects the value of what you’re offering. Accomplish this and you will find it easier to sell.

Your Pricing Isn’t Final.

Your knitting pattern pricing is not final. You can change it whenever you want. It's up to how the product is performing or whether you feel happy with the pricing. Give it time to properly analyze if you are making any profit.

At Knit-Lab Peru, we specialize in handcrafted and custom knitwear. Using the finest sustainable materials, we deliver high quality products worldwide. Contact us today to start creating premium knitted garments for your brand!