Hey guys! In a recent blog post I wrote about my new experience with Parsons and Teen Vogue online program. For one of my assignments, I have to write about the cost of productions and how this barrier affects fashion companies. For the product that I came up with, I used my tassel necklaces that I frequently make. If any of you are interested on how I make them, I have a blog post about it already on my website describing the process and what each of the necklaces look like. For the assignment, here are my calculations on the production costs of making my necklaces…
Tassel Necklace #1:
- String= $2.00
- Beads= $20.00
- Tassel= $5.00
- .13 hour @ $10= $1.3
- Total production cost= $28.3
- 20% profit= $5.66
- Total cost plus profit= $33.96
- Estimated retail price= $40.00
Since I have been thinking about selling my necklaces before, this assignment was extremely helpful in showing me what I could make off of each necklace and what it would cost to make the necklace, including time.
Thanks everyone for reading and I hope you learned something and enjoyed!