Friendship bracelets represent one of the most heart-warming kinds of jewelry available on the market today, and though not everyone appreciates them, there is a wide variety and big numbers of friendship bracelets to spread love and kindness for everyone in need of some light.
The friendship bracelets also are the best way for you to celebrate love and life, which is why they are easily available affordably.
So, how much do the friendship bracelets cost? And if you make the friendship bracelets, how are you to price them? Keep reading for answers to these and more questions.
How much do friendship bracelets cost?
Generally, the average price of friendship bracelets will range from about $3 to $100+ depending on the material used to make the friendship bracelet and also the brand you choose to buy the friendship bracelets from. Most of the handmade and non-metallic friendship bracelets cost under $20.
How to price friendship bracelets
With the right pricing, you can make money off the friendship bracelets easily. Although the profit margins for the friendship bracelets business are rather low, you can still make a little extra money from the business venture if you price your bracelets right.
First, think of the market and what is offered currently, then think of ways of turning a profit from the bracelets. This is more about pricing the bracelets correctly while making sure that your product pricing is reasonable and within the market average.
Price your bracelets low, especially the string bracelets, but not too low. You could be underpricing a product that people would pay much more for, yet you have the option of pricing it above that price you have in mind. To establish what the ideal price for that friendship bracelet would be, research.
Check out multiple forums and online marketplaces and see what people are paying for similar products. There is a high possibility that someone else is already selling the kind of friendship bracelet styles you are making, and so you get to learn from them.
With research, you will stop charging less for your pieces, and you will be able to turn a good profit as a result.
- Bracelet style
Generally, you can price your bracelet depending on the design, style, and expertise level you needed to craft the pieces. In most cases, the strings used (number and quality) will determine how you price the friendship bracelet. Naturally, the 32-string bracelet costs more than a 12-string friendship bracelet; yet, braiding the bracelet in a unique style different from what’s often on the market would mean that your pieces can be worth much more. In most cases, you’d price the bracelet based on the string – most sellers charge 75 cents per string used.
- Charge for your unique level of craftsmanship
While some bracelets are sold for as low as $4, there are chances that your pieces would pay much more, especially if you make them differently and if the end product is just that spectacular. More and more people are showing their appreciation for elegant jewelry styles, especially handmade pieces and the ones with unique finishes. So, if you can show off the same and tell your buyers why you think they should pay that much, they will buy the bracelets easily.
- Set a reasonable price
Even with unique designs and craftsmanship, you have to keep the price for the friendship bracelet reasonable. The average price for most handmade friendship bracelets is $4-$12.
That said, the price could be higher or lower depending on where you choose to sell them from. Sellers on Etsy and eBay, or even Amazon can fetch higher prices for their jewelry if the product is that good.
Can you make money selling friendship bracelets?
As mentioned above, the profit margins from the sale of friendship bracelets are low, and you shouldn’t expect to turn a big profit after a few sales. In fact, you may not make much of a profit the first few times. However, you can make a little more money from selling the friendship bracelets if you do the following:
Learn more about jewelry making – you may need some upskilling for you to perfect the art of making friendship bracelets, and you could also learn something new and informative in the process.
The uniqueness of the friendship bracelets style – this is the other important consideration for you because there is a bigger potential for profitability where you are dealing in unique friendship bracelets.
The durability of your pieces – most of the string friendship bracelets do not last as much as the sellers make you believe. So, test your bracelets and be sure that the pieces you are selling will not break or be deformed on the first wear. Besides trying them on yourself, you also need to get some of your close and honest friends to wear them then give their honest opinion about the pieces.
Research and keep up with trends – this is important if you want your friendship bracelets to sell online. You should also think of unique ways of developing friendship bracelets.
Conclusion
If you are thinking of selling friendship bracelets and profiting from them, read this article. The tips shared will ensure that you profit from the business.
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Tiger is a fashion&jewelry lover. He is also a fashion jewelry manufacturer that help thousands of small business to grow and also do business with some big fashion jewelry brands. He is a truly metal expert and he will share some information you are looking for.