Pricing Question

[dolomieu]

In your opinion, what is a fair price to charge for an unpainted, 1/8 or 3/16 oz. round ball jig head with wire keeper and #2 Gamakatsu hook?

 

Material cost per jig is around $0.45 (the hooks are pricey). 

 

For what it's worth, these are very difficult to find online.

 

 

 

 

 

[EvanT123]

Since we know what it costs you, I guess it depends what your time is worth?

I don't know much about jig pouring but let's say it takes you an hour to make 100. $45 in materials if you charged 60 cents a jig (about 30% of 45) that's around $15 an hour.

So if my Math confused you I would try and figure my production and cost per hour and factor in an acceptable percentage of profit. Plus you initial investment spread over time.

[Bluebasser86]

I usually look at the average cost of what I'm making goes for and try to keep it around there as long as I'm making enough versus what materials cost.

[Brayberry]

I make about the same thing, only difference is mine have the lead shank with barb, and I sell them for $.75 each if that helps.  Also if they want a cheaper hook, I'll drop to $.50 each, hope that helps

[cadman]

Pricing is relative to what the market and the customer will bear. If you have 50 cents in material, I would be selling that with a Gami hook for over a $1.00 a jig. Now there are a lot of factors in this. Is this a repeat customer, are you buying hooks in bulk, how many jigs are you pouring at one time. Take all this into consideration and see how much money you want to make out of this. All of my customers are really good and understanding. Someone, will always think that the price is too high. That's the nature of the business. To those people I tell them to go to Bass-Pro Shops. Remember that if you are supplying a custom jig and no-one makes that then the ball is in your court. What I would not do is ask your customer what he would like to pay for it, because most people will say it's worth 50 cents. If you are trying to price match someone else doing it, then I would walk away from that . I have been down that road with many people and they will always tell you less then what they are actually paying and when you find out what they tell you, you will see that you can't even make it for that many times. Sorry for the long winded reply. Need more help PM me.

[dolomieu]

Thank you all. I really don't pour a lot, and I have to pour these one at a time, so I'd like to make this worth while without being unreasonable. There is a fairly substantial demand for these in my circle of aquaintances, so I think somewhere in the $.90-1.00 range is where I'm going to start, and then adjust accordingly.

[Brayberry]

I'd do $1 each, that way you pocket $.55 per head

[Sam]

Do the math for one jig head and then multiply it out for as many jig heads that you will need or that will go into a package.

Cost of raw materials.

Cost of transportation of raw materials to your processing plant (garage).

Storage costs while at your plant.

Equipment to make the jig head.

Labor and materials to process the jig.

Insurance (property and liability on the plant's real and personal property; products and completed operations on the finished product plus health, dental and vision insurance costs, payroll and corporate taxes, heating/air conditioning, retirement contributions to your 401k or SEP account  for the plant.

Research and development costs associated with the jig production.

End of the year bonuses.

Advertising costs.

Fed-X and USPS charges for mailing the product to consumers.

Your time in contacting retailers to stock your product.

Estimated return of unsold products (30% is a good average) from retailers.

 

We are not including any legal costs to incorporate or fight the Asians who will steal your design and produce them by the millions and flood our market with them.

 

After you boil down your costs into pennies, double or triple or quadruple  the price (triple or quadruple  the price so you can have a Christmas sale with 50% off) you can then estimate the cost of the jig head.

 

Let us know what price you come up with.

 

Merry Christmas and Happy New Year!

[dolomieu]

Sam, using your method, I've come with $18 per jig head. Thanks for your help, can't wait to get started.

[GoCougs14]

Sam, using your method, I've come with $18 per jig head. Thanks for your help, can't wait to get started.

youre gonna be rich!

[Molay1292]

In your opinion, what is a fair price to charge for an unpainted, 1/8 or 3/16 oz. round ball jig head with wire keeper and #2 Gamakatsu hook?

 

Material cost per jig is around $0.45 (the hooks are pricey). 

 

For what it's worth, these are very difficult to find online.

 

 

 

In my opinion, if you are paying retail price for your components, hooks, keeper, and lead then you cannot reasonably expect to make a profit on those.    Your profit will be based on your expense to buy the mold and other equipment and then the time you have invested, which you almost never recover in my experience with tackle making.   I purchase the components, hooks and keeper and have 50 poured for 6 dollars, sometimes he trades me out for lunch.

[Big C]

Double the cost of materials.  45 cents for you, 90 cents for them, with maybe a discount of an order of 100.  That's what Landscapers do.

[Big Bait Fishing]

those are exactly like the Picasso Tungsten Weedless Ball Jig except the ball is tungsten and they are painted , they sell for $6.39 - $6.69 per 3 pack .