How to make Money and Price your Laser Engraving Work

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Laser Engraving with Matt

Laser Engraving with Matt

Жыл бұрын

Today I share How to make Money and Price your Laser Engraving Work.
Hi, I'm Matt! Along with my wife, Sara and our 4 kids we are fulfilling our dreams of becoming more self-reliant. We support our dream by working from home running our laser engraving business. I have been getting a lot of questions about how to price your laser engraving work and make money so we are sharing our "secret" formula.
Etsy tool: salesamurai.io/ Use Coupon Code: MATT20 for 20% off
xTool (Diode Starter Laser): www.xtool.com/?ref=w86Oew0Jk4...
Best book for beginning your business (Hard copy or audio): amzn.to/3ehpGZ1
Join the Private Monthly Product Roll Out Group: / laserengravingwithmatt
Etsy shop with SVG & PDF files for sale, EngravingwithMatt: www.etsy.com/shop/Engravingwi...
Join us Fridays for new videos!🌻
Check out our vlog channel, @Matt & Sara (New videos M-TH): / @mattsara2802
Don't forget to LIKE, COMMENT & SUBSCRIBE!
Click that 🔔 to be notified when our next video comes out!
Matt & Sara
Shop our favorites:
Sanding Disks for glass: amzn.to/2JCm9W4
3D Printer: s.zbanx.com/r/bjgWdKwKDDxY
Starter Laser Engraver xTool: www.xtool.com/?ref=w86Oew0Jk4...
Powder Paint: amzn.to/3Nhq5qS
Gasket Making Material: amzn.to/3ls4C2h
Blue Tape: amzn.to/3FNzS3a
My favorite LA's Totally Awesome Degreaser: amzn.to/3tGhmaT
Super Clean Degreaser: amzn.to/3oIvBt5
M8 Fan: amzn.to/2Z08qQr
External Hard Drive: amzn.to/32OVoqy
Cermark: amzn.to/3EKxbAj
Bottle Openers: amzn.to/3i1xsoS
Dusting Spray: amzn.to/3znltIM
Rubbing Alcohol: amzn.to/3Bv3OQb
Q-tips: amzn.to/3BihFZK
💡 Lightbox : amzn.to/31h1GLC
Corel Draw Software: amzn.to/3pG3wzW
Sandpaper Blocks: amzn.to/3pVQVrV
Transfer Tape: amzn.to/37OizRn
Clear Coat: amzn.to/2LOM3qr
🖨️ Our favorite label printer the Rollo: amzn.to/2IVCVyV
🏷️ Flat 4x6 labels compatible with the Rollo printer: amzn.to/3pMawvO
📸 Camera: amzn.to/3iuYsLE
🔺 Tripod: amzn.to/2QgipJM
Scale: amzn.to/37IE2L7
Drop us a line ...
Matt & Sara
PO Box 9
Carver, MN 55315
Send Business Inquiries to: homesteadingyt@gmail.com
DISCLAIMER: Links included in this description might be affiliate links. If you purchase a product or service with the links that we provide we may receive a small commission. There is no additional charge to you! Thank you for supporting us so we can continue to provide you with free content each week!
Music: Courtesy of Epidemic Sound
#laserengravingbusiness #laserengraving #laserengravingforbeginners

Пікірлер: 154
@chezter03
@chezter03 Жыл бұрын
Oh i like what they said... "your work means something to someone out there" it's a very very good reminder when i overthink if I am overpricing my handmade products! Thank you guys. now I am a new subscriber!
@freman
@freman Жыл бұрын
I do this for 3d printing too, the printer gets $2 an hour, the power company gets 20 cents an hour, I get $1 a minute, filament gets charged out at twice what it costs me to buy, multiply everything by 20%... Unless I'm printing scraps for 'community things' then it's usually a gold coin.
@SaveTheSunF1R3x
@SaveTheSunF1R3x 10 ай бұрын
this is the exact thing i do for 3d printing. which is hard information to come by when starting out so if you come across this remember it!
@joecop9887
@joecop9887 7 күн бұрын
Sunk cost. I believe that’s the phrase you’re looking for. Nice vid. Helpful. Tks!
@bschremp
@bschremp Жыл бұрын
You covered what I call Time and Materials, you did a GREAT job explaining it. You did not talk about overhead. • Rent • Electricity • Supplies to clear your machine • Water • Trash • Everything that is not Time or Materials.
@shawnbrockman9729
@shawnbrockman9729 14 сағат бұрын
Thank you for this information and inspiring video.
@CruiseMonkeyGames
@CruiseMonkeyGames Ай бұрын
I've been in involved in a lot of businesses so most of this is pretty familiar to me however laser engraving is a new field. Doesn't hurt to hear the basics. We're looking to get into the custom market rather than mass produced items. The markup in some of the Segments we've identified is incredible. It's crazy what people are willing to pay to have their name etched on… Place name of it here… Especially here in Southern California. You two are an absolutely adorable couple and I'm so happy that you are successful in this business and you are working together with no hint of murder in your eyes.😂
@bigfranksworld
@bigfranksworld 6 ай бұрын
I know you said that you had a bit of profit in your runtime, but the business needs to make profit for itself. Your laser isn't the only thing you have that may need to be replaced. Also, it doesn't sound like you are making any money on your materials. Technically that means you are loosing money on them as you have ordering time, time looking up products or at least new products, etc. Just a couple of things I have found (not in the laser business) that had helped me stay in business. Thanks for the video. I certainly picked up a few thing from it!
@flyingmonkeys9774
@flyingmonkeys9774 Жыл бұрын
I love your way of thinking. Time is money! Why can't the general public get that into their minds though. People in a salary job especially don't understand the concept. They get paid irrespective of how hard they work. They also get paid if they are sick, on holiday and on public holidays. The money just automatically goes into their bank account each month. Naturally for self employed people it's a different story.
@RedPillSurvival
@RedPillSurvival 4 ай бұрын
I think you should add 20% for your margin as a "retailer". You're not just a manufacturer. You're a manufacturer AND a retailer. If you were just manufacturing, you'd have the benefit of dropping your products off, in bulk, to a business. Much less work. Instead, you're dealing with individual end consumer, so you're also doing the job of a retailer.. and should make some money for doing so!
@sabrinabradley5010
@sabrinabradley5010 Жыл бұрын
Thanks so much! Oh my you two look like sister and brother! True union!
@JLR80
@JLR80 Ай бұрын
Thank you for this video. I am working to start a business like yours and you are both so inspiring and helpful. Thank you
@benjaminflores1299
@benjaminflores1299 Жыл бұрын
You guys are awesome for sharing this knowledge with us who are starting out! Thanks again.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@112233445566778899xx
@112233445566778899xx 8 ай бұрын
You two are great. It's just not possible to hold quality at high level when you're not honest about all the costs - and the worth of ALL the work. You are. That's why you're in business & doing well. I wish all the best to you.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 7 ай бұрын
Thanks 😊
@nextsolution3509
@nextsolution3509 Жыл бұрын
Thank you. I appreciate all of your time and effort put into these videos.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😃
@justinjahnke5288
@justinjahnke5288 Жыл бұрын
You guys are awesome! Thank you so much for all the sharing of knowledge and info!!!!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😊 and No problem 😉
@roblear6322
@roblear6322 10 ай бұрын
Thank you for all of this advice! I love how transparent you are about what works, and more importantly, what doesn't!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 10 ай бұрын
Thanks
@rickpouley2857
@rickpouley2857 Жыл бұрын
Great information.. I had been trying to figure out how to charge for my laser. Since I have a diode laser, now I have a great idea about charging, Thank you very much... Keep up the great work!
@ericb.8813
@ericb.8813 Жыл бұрын
Profit first is AMAZING!!!
@schmaltzfamily7137
@schmaltzfamily7137 Жыл бұрын
Can’t thank you guys enough for all you share with your followers. I started in May and have learned more from watching your channel.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks and glade to help.
@SWATC0P
@SWATC0P Жыл бұрын
Thanks for the info guys my 40 Fiber will be here Friday and this was my biggest question on how to run a laser business. Thanks so much!
@payola5000
@payola5000 Жыл бұрын
I loved this video, thank you so much for making it!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@jimgreen4750
@jimgreen4750 2 ай бұрын
I like this .. open honest and direct, Thank you; glad I stumbled across this
@laserengravingwithmatt7833
@laserengravingwithmatt7833 2 ай бұрын
Thanks
@stephansetup6238
@stephansetup6238 Жыл бұрын
I've seen a couple of videos of you in the last weeks, and Man I love your (both) open and whole hearted approach of sharing your information and processes. Theres so much content out there where they lure you in but then dont give you the important 10%. I learned already alot from you guys specially though how start up a business and still keep a good mindset
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😃
@SmokeScript
@SmokeScript 9 ай бұрын
100% agree with this comment.
@vcap7886
@vcap7886 Жыл бұрын
This was great! Subscribed! Can't wait to get our first laser. Love that you guys do this together. Thats the plan with my wife and I.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks. That’s awesome it definitely helps working together.
@haleylikescheese
@haleylikescheese Жыл бұрын
I loved this video. Thank you so much! The breakdown was sooooo helpful. "Find out what market you want to be and tailor it to them" is the advice I had been getting. And I'm like...well yeah....but this is like gold star advice
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@melvyn99
@melvyn99 10 ай бұрын
This is great info. I just go an xTool P2 CO2 laser, and I'm looking to be able to sell my own designs eventually. Thanks for sharing your experience!
@SmokeScript
@SmokeScript 9 ай бұрын
Matt and Sarah, you guys are awesome!! I was and still am a subscriber to your channel on an old KZfaq account, but this new account will be my new companies brand name. I am now subscribed on this channel as I will use it instead of the old one. I have purchased a Thunder Nova 51 and it is being built in China currently. I hope to have it installed end of August/beginning of September. It is great to watch all your other videos Matt, as settings and trial and error that you have done will be most helpful to me for my Thunder machine. Very good and clear explanation of how you cost your work. Keep up the great work! Thanks very much for sharing. 😁 Derek, from Ireland.
@jasonp.7662
@jasonp.7662 8 ай бұрын
I love seeing real people do a video. Y'all do an amazing job. Thank you
@laserengravingwithmatt7833
@laserengravingwithmatt7833 8 ай бұрын
Thanks 😃
@autoflowerhippie
@autoflowerhippie Жыл бұрын
Appreciate your videos.. just got a 10w laser. Learning curve, your videos help ty
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😃
@crazykudu2147
@crazykudu2147 Жыл бұрын
Thank you guys for sharing.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
No problem 😉 thanks for watching.
@swishair
@swishair Жыл бұрын
Awesome information, you guys rock.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
😃
@playtwisted857
@playtwisted857 Ай бұрын
I like the break down, it gave me a lot to think of as a hobbyist I do not always charge for stuff, I make gifts and such more than anything. I do however get request every now and then, and do not know what to charge. One of the other comments mention that you did not include space rent, garbage, water, etc... but if you are running as a business out of your house, you can write off a percentage of your house payment, electricity, internet, etc...
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Ай бұрын
Yup
@quinettabrown8836
@quinettabrown8836 7 ай бұрын
Thank you
@michellearchambault6555
@michellearchambault6555 7 ай бұрын
Great video! I am just starting out and I know I will have to make adjustments because I don’t know what I don’t know. I am sure I will forget to include something. However, this gives me a great place to start. I really appreciate your transparency. 😊
@laserengravingwithmatt7833
@laserengravingwithmatt7833 7 ай бұрын
Thanks.
@justin832.
@justin832. Жыл бұрын
Good work
@musc258
@musc258 11 ай бұрын
Great video.
@heidbumbee1689
@heidbumbee1689 Жыл бұрын
Great xplain. Never underestimate the value of your creativity. People come at you with an idea which you then have to "make work" in reality. Not everyone can do that. I read posts on facebook every day from folks that have diode lasers but they don't have the skill to make a thing unless it is a file that they bought from etsy. For every "buyer" that says they can buy it cheaper in whatever store there is another customer that will recognise your skill/work and be willing to pay for it.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@hperlmutter112
@hperlmutter112 7 ай бұрын
I am enjoy this video. I do not own a laser yet I may purchase one at some point soon I would think your laser one time cost might be closer to 1.67, to go account for maintenance wear and tear insurance and electricity.
@kennethgregoire9863
@kennethgregoire9863 Жыл бұрын
Thank yous guys
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
👍😃
@everettdavis1906
@everettdavis1906 Жыл бұрын
Thanks for all the useful information. Most of the time I am so overwhelmed by everything I get nowhere.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Your welcome
@ventureproject6083
@ventureproject6083 Жыл бұрын
Profit First! Great book
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@giddensre
@giddensre Жыл бұрын
Thank you for the explanation. World needs more people like you both. Wanting to help people and build people up, instead of wanting them to fail.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😃 glad to help.
@Max3DDesign
@Max3DDesign Жыл бұрын
Oh! Thank you guys, engraved your list in my workshop :D now it makes sense even if someone asked, why is that so expensive? well I had laser running for 40 minutes to make your photo on painted white gloss, than black gloss canvas 40x40 :) Thank you guys! you've got a subscriber!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Awesome
@shonie9631
@shonie9631 3 ай бұрын
Great Video.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 3 ай бұрын
Thanks
@marcuskroek
@marcuskroek 11 ай бұрын
Great video. I was thinking of Profit First as I listened to you. I am a Profit First Professional based in Australia. And then you mentioned it. Great to hear. I am sending your video to my son and daughter who have an apparel and an embroidery business respectively. Loving your series. Did I miss one where you made the choice about which gal o laser to get?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 11 ай бұрын
Thanks. I talked to Kyle from laser everything and he recommended some. Now I would like to get the co2 galvo and the UV galvo.
@Deafeningstorm
@Deafeningstorm Жыл бұрын
Loving your videos. Is it possible to do a video on how much a person should be making before they can even think about leaving their job? A person has to think about taxes, insurance, ect ect. Keep up the good work.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Absolutely
@JayclovisL
@JayclovisL 5 ай бұрын
"Hold your ground and youll be fine" ❤ thank u so much. I was afraid that was pricing to much. My competitors have super low prices.."know ur worth" love u guys.! Watching from philippines.❤
@laserengravingwithmatt7833
@laserengravingwithmatt7833 5 ай бұрын
😃
@leviteapparel
@leviteapparel 3 ай бұрын
😂that was amazing 👏🏿
@RickSwartwood
@RickSwartwood Жыл бұрын
You two are definitely an inspiration! Thank you!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@autoflowerhippie
@autoflowerhippie Жыл бұрын
Cool ty
@derek2593
@derek2593 Жыл бұрын
You two are awesome. Thanks so much. We have farm animals too, hoping to start a family and a laser business. If all goes well, you are future versions of me and my wife.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks 😃 and hope the best for you guys. Goals
@derek2593
@derek2593 8 ай бұрын
Wow, I finally need to use this formula. So, if you don't mind letting me know if I understand correctly. It's $1/minute for labor, $1/minute for work on an $80,000 machine, and then materials cost. Fortunately, I don't need shipping and no fees. My machine is $5,000, so 16 cents/minute for me.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 8 ай бұрын
I would still charge 1.00 a minute. If it is a c02 laser because of the speed
@derek2593
@derek2593 7 ай бұрын
@@laserengravingwithmatt7833 , thanks so much. Yes, 100 watt Co2 laser. I am guessing the labor for the scan gap settings I made for this job, is just standard machine maintenance. Probably not part of product pricing.
@n13t031416
@n13t031416 Жыл бұрын
Greetings, in Mexico it is quoted approximately $0.36 dollars per minute of cnc laser/router in materials between 3 and 6 mm thick, plus the material, usually in Mexico mdf is used a lot, (a sheet of mdf of 122x244 cm, costs 180 pesos, date November 2022) and the cost of cutting plus material is proportional to the size of the sheet, almost always the client sends their designs, and that is how it is quoted, if you need to make the design, that already has a cost per hour, depending on the person, but it is almost always large amounts so it is buffered and not charged, regards.
@charlesarnold4963
@charlesarnold4963 Жыл бұрын
That was quite interesting. I think you covered the basics of running a business. However, PROFIT was not mentioned. I am sure you are entitled to a profit to sustain your life style.
@thomasnadeau5076
@thomasnadeau5076 Жыл бұрын
Thank you both for another great video. If I may another way to price it is using total costs of everything Elec. Shipping time Material etc. etc.etc.. and then making a percentage. Example lets say you have an item that the total cost of everything is 1.00 and you want to make 30% there are 2 ways Add on percent or true 30% add on would be 1.00 x 30% = 1.30 True 30% would be divided by the reciprocal 1.00/70% = 1.42.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@trev0r15
@trev0r15 15 күн бұрын
Really enjoy your videos! Approximately where are you in MN? I'm in MN too. 👍
@laserengravingwithmatt7833
@laserengravingwithmatt7833 15 күн бұрын
1 hour from the city
@trev0r15
@trev0r15 15 күн бұрын
@@laserengravingwithmatt7833 Cool we're about an hour and a half west.
@gaiustacitus4242
@gaiustacitus4242 11 ай бұрын
A person can use whatever pricing model he or she can dream up. However, a pricing model that fails to recover costs (and with capital equipment, this is based on annual depreciation and not on its direct price) or that is too inflated (by arbitrary pricing) will result in the business being unsustainable. The best price for a product is one at the lowest point possible, based on costs, while still allowing you to pay yourself a reasonable hourly wage and to make the planned profit. As for choice of equipment, only invest in expensive machinery if it can perform functions that no other equipment can. If an $80,000 piece of equipment can only output products at the same rate as a machine costing $10,000, then you are better off purchasing the less expensive equipment. As you need to add production capacity, it is necessary to evaluate features, functions, and speed of the less expensive options. If the cheapest equipment has all of the features and functions needed but is only 25% as fast and
@FSDown
@FSDown Жыл бұрын
Hey guys, this was really insightful - thank you for sharing. Does this mean for custom work, you invoice after the job I done and you have calculated the times etc?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
For the tm jobs we bill them after yes.
@merrillalbury8214
@merrillalbury8214 Жыл бұрын
You need to add cost of utilities and maybe cost of shop.
@MS-uz4ix
@MS-uz4ix Жыл бұрын
Thank you for the invaluable information! Would you mindsharing your laser setup? Types (CO2, Fiber etc) how many, what poweretc. Thanks.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
I could do that 😃
@wayneg1681
@wayneg1681 Жыл бұрын
This model should help anyone trying to figure out pricing. It pretty much covers the bases. I'm quite anal and go into more detail but I end up near where you guys are. Well done!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@mattdworaczyk1884
@mattdworaczyk1884 27 күн бұрын
Thanks for the formula! How did you come up with $1 per minute for your machine? Is it a ratio of machine cost and expected life of machine?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 27 күн бұрын
Insurance time electric wear and tear.
@thickoff-road8992
@thickoff-road8992 Жыл бұрын
wow. first comment. siiiiick
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
😂
@gaming4K
@gaming4K Жыл бұрын
I looked at my competitor's price and i was like hell no i don't give a F i am selling for what i want to sell it for. I am not ordering importing from abroad to cut my price i do because i want to be able to work with bigger margin. Plus i am creating the website for my product so it's easier for the customers to customize the stuff how they want.
@farinadewaard5870
@farinadewaard5870 7 күн бұрын
I know I am quite late watching and commenting on this, but I have a question about your formula: What about TAXES? I am located in Germany and we pay product taxes, so for each product I sell I have to declare it and pay 19% taxes per item. For things I bought taxes are included in the price as well and I can get those 19% reimbursed (e.g. I bye wood for my laser or other things I need). I like your concept of paying yourself and paying the machine!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 7 күн бұрын
I can’t say anything about taxes because everyone is different. Just add it in the price
@farinadewaard5870
@farinadewaard5870 7 күн бұрын
@@laserengravingwithmatt7833 Thank you =)
@goldomega
@goldomega Жыл бұрын
Does marketing budget factor into the calculation, or do you factor advertising, lead generation activity, etc. as part of runtime?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Yes! Regardless of where you factor it in just be sure you do!
@tassiespirit
@tassiespirit Жыл бұрын
Not sure if you included making up the custom files for the work for a client in time (hours) and minimum fee etc. I.E. if a customer wants a custom logo say a local volunteer fire brigade logo for a coaster or something. Do you still charge $60 /hr for that, included in the "handling fee"?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Yes how ever long it takes. You don’t go to your 9 to 5 for free.
@karvtek
@karvtek Жыл бұрын
What about setup time? Is income tax estimated in your dollar per minute? Nice vid.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Add in the setup time to your Handling time and income tax does come out of our dollar per minutes. Thanks
@freedomdove
@freedomdove 4 ай бұрын
8:09 mark: Does that 20% Etsy fee number include Etsy ads and their mandatory 12% off-site ad fees? If not including off-site ads, how do you recoup those fees when someone clicks on your ad and buys something from your store? How can you predict the amount of sales you'll get from those ads so that you can adjust your pricing? 14:10 mark: On your paper you have N/A for shipping when you previously said we need to account for that. I'm assuming the N/A is for when people pay their own shipping. But what if the customer orders multiples of the same item (different personalization) and goes over the $35 limit? From what I understand, customers will frequently buy more stuff to get free shipping. How can you justify not including that in the initial cost projection per item when it's quite possible (but not guaranteed) that someone will buy more to get free shipping? Say you're selling a pendant for $12. Half your customers buy only one but the other half buy 3 of them to get free shipping. You can't turn around and tell the latter group that the cost per pendant is $14 each to cover a $6 shipping fee. Are you just eating the shipping cost of the order when it does go over $35? How can you predict what your customers are going to do? Would it ultimately be easier to just do the free shipping down the line and add it into every item's cost structure, and then offer a discount on shipping for additional items? Thank you very much for your video. I bought an xTool F1 and have been struggling with figuring out how to set prices. 🤦‍♀
@laserengravingwithmatt7833
@laserengravingwithmatt7833 3 ай бұрын
You can't predict them. We took off our free shipping. You just need to make the price that works for you and when you get your first sale on that item then make the desicon on if you want to go up or down with the price. don't over think it.
@freedomdove
@freedomdove 3 ай бұрын
@@laserengravingwithmatt7833 Okay, thank you!
@rightpassage
@rightpassage Жыл бұрын
Got my first customer and I told her COD would be good. Should I get the money up front for the future? I figure they won't back out if they pay in advance. But then I don't want to make the wrong decision.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
That is a hard one. We don’t because other businesses don’t do that. If it was a big order then we might ask for half down
@danieljohnson3072
@danieljohnson3072 10 ай бұрын
How would this apply to a larger item like a 4'x8' sign? having to cut and place letters and scrolls.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 10 ай бұрын
Same.
@ojali7736
@ojali7736 Жыл бұрын
Hi Thank you for the video! The link for the xTool does not apply the promo code mentioned. Can I get the discount code please? Thank You!!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
I will send them a email
@ojali7736
@ojali7736 Жыл бұрын
@@laserengravingwithmatt7833 thank you very much! Please advise me which one do you recommended the xTool M1 10W Deluxe or the xTool D1 Pro 20W? Your input is much appreciated!
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
I would go with the 20watt
@robrocco5420
@robrocco5420 Жыл бұрын
8:57 Why did you write Stripping on the paper...LOL thats how I read your "H"
@stephensmall7398
@stephensmall7398 Жыл бұрын
How does your formula change when doing a bulk order for a local business?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Yes
@andreadarrar5540
@andreadarrar5540 3 ай бұрын
So not even a beginner yet, still researching and just started that. So when you say fees what's that suppose to be covering? Listing fees?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 3 ай бұрын
Yes the fees are for whatever platform you are selling on.
@jojo-yo1sk
@jojo-yo1sk Жыл бұрын
It can not be like what you had stated, it will nt apply to us in Asia...most of the time, we are only making 20-40% from product cost, and at good time, you can make 100%(very rare)....it all depend on the market and not the profit formula...some people are willing to go below that pricing because of competition...is competition not fierce in America? We are happy that you enjoy good fruit from your hard work
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Competition is tough here, but I won’t raise the bottom. I stand my ground and hold my prices.
@jojo-yo1sk
@jojo-yo1sk Жыл бұрын
@@laserengravingwithmatt7833 Here you can not survive without being flexible..we are both in 2 different world...keep those good work and enjoy...there is so much creative things that is possible with lasering, there will also come a time when you need other machine beside the laser machine to stay afloat in this competitive market...
@mathewharrison9784
@mathewharrison9784 Жыл бұрын
does the run cost of the laser come out of the laser per minute ?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Yes
@mathewharrison9784
@mathewharrison9784 Жыл бұрын
@@laserengravingwithmatt7833 thanks love the videos
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Thanks
@Yarvindarkhel
@Yarvindarkhel 5 ай бұрын
How would I be able to colab with you?
@laserengravingwithmatt7833
@laserengravingwithmatt7833 5 ай бұрын
Email me
@thomasnadeau5076
@thomasnadeau5076 Жыл бұрын
Profit is not a dirty word
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Absolutely not
@rickneiheiser5091
@rickneiheiser5091 Жыл бұрын
You're formula forgot profit. That is all just paying your costs.. Funny you mentioned a book about profit, but it's not in your formula. But glad to see you've lasted.. The amount of people on etsy doing the same thing is staggering.. Has kept me from even trying.
@fencefirst2722
@fencefirst2722 9 ай бұрын
Because all it's about is the next laser! Lol
@Self.reliant
@Self.reliant Жыл бұрын
Loss leader is what your looking for.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
Yes!!
@cliffart7398
@cliffart7398 Жыл бұрын
$60 per hour for run time is double what most everyone else charges. $60 per hour for labor is also high. I have seen most makers charge a flat $30 per hour from start to finish plus material and shipping/handling costs. You didn't mention sales tax? Are you not collecting sales tax? You are a retailer in Minnesota and may be required to pay the over 6.5% sales tax at least for sales made in Minnesota. Your video could result in you being audited by Minnesota tax authorities. I do not know as I do not live in Minnesota.
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
I don’t think it’s high when we are getting lots of work. But you charge half the price and work 2 times as hard as me 😃. As far as sales tax yes we charge but every state is different.
@joelvale3887
@joelvale3887 Жыл бұрын
We all live in a world of the FEE and HOME of the SLAVE.
@angest323
@angest323 Жыл бұрын
You forgot electricity.
@bschremp
@bschremp Жыл бұрын
Low price leader...
@Anonymous-tz7ym
@Anonymous-tz7ym Жыл бұрын
My problem with the handling time What Are you doing walking around With a stopwatch and you hit it when you pick up the item and then stop it when done with it an you do that at every step No Not Likely most likely you're just guestimating and throwing a number out there that you wanna up charge the customer If you're gonna charge for that it needs to be a Reasonable flat fee or it's unethical And can easily be Taken Advantage of and miss used In my Opinion It's like getting hit with a punch of hidden fees In your electric bill or phone bill A lot of times it feels like they're just making up fees and stuff you know I would never buy from someone that charges me a dollar a minute just to handle the item every step along the way and I'm supposed to just take your word for the amount of time you "handled it"
@laserengravingwithmatt7833
@laserengravingwithmatt7833 Жыл бұрын
I understand what you’re saying for custom orders. If I’m coming out with a new product yes, I basically see how long everything takes and come up with a price based on that so the customer sees it before buying. Even my custom orders I give a price before the work is done so my customer can decide for themselves if the price is a good fit for their need. Thanks for the feedback.
@WetbackNoSetback
@WetbackNoSetback 5 ай бұрын
7:59 people who pay fees for customers are too kind, surely to get into heaven but not likely to end up on forbes, you guys are definitely going places
@laserengravingwithmatt7833
@laserengravingwithmatt7833 5 ай бұрын
Thanks
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