Socks for JC by FletcherJCM. Shared under Creative Commons license.
Several of us were talking about what we charge for knitting and the prices varied widely. Some people charge a token amount of just a few dollars per hour. Others charge $10 or 20/hour. Some charge by the yard. Others charge depending on the project. What that fee gets you varies wildly. Sometimes it includes finishing. Sometimes it does not. Some people charge for the time it takes to research a pattern & the yarn; others do not. There are as many pricing models out there as there are people who knit for money.
There is an oft-quoted formula floating around that says you should get paid 3x the amount of the supplies. I'm not a fan. Here's why, if you use a $20 hank of sock yarn, that is $60 for a pair of socks. But what if your sock yarn only cost $10, then you are only making $30 for the same amount of knitting.
I charge by the hour. The $/hour varies, depending on how complex the pattern is. I never dip below minimum wage, unless I am knitting for a friend or family member. My fees are in the high end and as a consequence, I do not take many commission projects. That's by design.
Now that my business model has changed slightly to ease up on the amount of hours I work, I have time to consider doing more sample knitting, for myself and others. I have been thinking a lot about how my prices should be adjusted.
The flip side to all of this is that I occasionally need to hire sample knitters myself. Surely their time is worth the same as mine? And what about those sample knitters who want to work for free? Or for barter? And what of designers? Some designers will part with their samples in exchange for yarn support. Other designers charge to make samples. Others will release the rights to a yarn company and the yarn company itself has to pay sample knitters.
I don't have an answer to what the perfect price is, but it has been on my mind today. What are your thoughts on knitting for money?
30 Days of Gratitude: Day 11
I am grateful for the internet. Where else would I get anyone to read my ramblings?