Still using the mythical “Materials x 3” rule to price your handmade products? Let’s fix that.
You’ve probably heard this one before ———
“Just multiply your material costs by three.”
It sounds simple, feels quick, and might even sound fair….until tax time rolls around and you realize your “profit” barely covers your coffee budget.
That’s because this popular formula (and many others) quietly undervalues your time, your creativity, and your entire business.
🧶Sound familiar? You’re not alone.
🧵Why “Materials x 3” Misses the Mark
That “multiply by three” rule assumes your labor, overhead, and profit can all fit neatly inside that magic number. But here’s the truth:
- It ignores your time – all those hours designing, making, packaging, photographing, and posting.
- It overlooks your overhead – website fees, booth costs, packaging, shipping supplies, and that glue gun that eats up electricity.
- And leaves profit to chance – hoping there’s “something left over” instead of planning for it.
The same thing happens when you listen to coaches who say “just figure on paying yourself between x and y dollars an hour” or “use the minimum wage rate for your state”.
👉 In short, these are shortcuts that shortchange you.
💡A Smarter Way to Find What You’re Really Worth
Before you can price your products fairly, you have to know what your time is really worth — your fair hourly wage.
That’s where my Fair Wage Calculator comes in.
It helps you figure out exactly how much you need to earn based on:
- Your desired annual income (what you actually want to pay yourself)
- The hours you realistically have to work
- Your annual expenses (the cost of keeping your business running)
- The taxes and profit you want to plan for
From there, it shows you your revenue goal — by month and year — and your true hourly rate to reach it.
✨ No guessing, no guilt, and no more “materials x 3” nonsense.
🛠️ Your Time Isn’t Free (and That’s Not “Greedy”)
Many makers hesitate to charge for their time because they worry they’ll see expensive. But lets be real:
- You’re NOT competing with Walmart, Target or Amazon.
- You’re offering something personal, creative, and one-of-a-kind.
- The right customers will value that — once you start valuing it too.
Your time deserves a wage that reflects your skill, care, and experience – not one based on myth or someone else’s wild guess.
And now, you can finally see that number in black and white.
💬So…. What’s Your Fair Hourly Wage?
Start by asking yourself:
- What’s the minimum I need to ear to make this business viable?
- What hourly rate reflects my true skill and effort?
- Am I building a hobby — or a sustainable business?
Then use that hourly wage as your foundation for every price you set.
🧶Wrap-Up + Invitation
Pricing your handmade products isn’t just math – it’s about self-respect.
When you understand the numbers behind your goals, you’re not just charging more — your creating sustainability.
❤️ Ready to see what you really deserve to earn – based on your own numbers?
Try my Fair Wage Calculator – the simple, maker-friendly tool that helps you find your fair hourly wage rate and set realistic goals for your business.
👉 Click here to request the Fair Wage Calculator
And if this post hits home, share it with your maker friends. The more we talk about fair pay, the faster we change the handmade industry.
