There are as many ways to determine how to price your furniture as there are people starting woodworking businesses. It’s one of the more confusing parts of a craft business, not only do you need to charge for your materials, but you also need to charge for your time and your artistry.

The most frequent mistake woodworkers make is undercharging for their product. Unfortunately, the competition between cheap and inferior quality furniture and the new business owner creates a false ceiling for the prices of wood furniture. The truth is that you may get more customers through discount prices, but you aren’t going to be able to stay in business very long.

The ratio for a successful business is simple: to be successful you have to make more money than you are spending. Offering your furniture at discount rates can eliminate that profit completely.

There are a variety of methods for determining pricing. Find the method that works best for you and stick with it.

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