This year, we are announcing a theme we’re calling Wish You Were Here. With this as a guiding idea, we encourage you to work on projects that reflects your hometown. Think about local and regional crafts, music, style, and food, ways to pay tribute to a notable landmark or place, an activity that tells local lore through handmade means, or any creative activity that speak to this spirit of local flavor. This is definitely open to interpretation, and it’s up to you to decide how you showcase the theme at your party. We’ll be planting more seeds of ideas in posts to come.

I picked this up from the amazing Megan Auman. What I love about this formula is that your profit is properly accounted for!
Now let’s go through every part of this formula and break it down.

Materials
Make sure to cover all your material fees. Often forgotten: the little things like the cost of thread, and the bigger things like the cost of packaging. If you’re going to “guesstimate,” err on the higher side!
Labor
If someone wanted to hire you and they offered you $7 an hour, what would you think of that deal? Be a good boss to yourself and do a bit of research. How much does a seamstress make in San Francisco? Find out! (Also remember, you’re probably more than a seamstress – you are the designer, the marketing department, the accountant, the janitor, and the*administrative*assistant, too.)
Expenses
Bubble wrap, that ebook *purchased at 3 a.m., studio rent, bus passes required to make it to the studio every day, a new scale for your shipping station. How the heck can you fit all these things into the price of a single item?

Here’s a *way to do that:

Tip: Start doing two things to help you come up with an even more exact price:

What’s your best pricing tip?