How to Price Your Furniture Flips for Profit: A Step-by-Step with a Free Calculator

Why I Created This Calculator 🧮

For a long time, I was guilty of underpricing my work. I’d focus on getting the sale, not realizing I was barely covering my costs, let alone making a profit. It was frustrating, and honestly, unsustainable.

I knew I needed a better system, so I created this commission calculator to help me:

• Track all my expenses: From materials to shipping, every little cost adds up. The calculator lets me see exactly where my money’s going.
• Factor in my time: My skills and expertise are valuable! The calculator helps me set an hourly rate that reflects my worth.
• Calculate profit margins: No more guessing! I can set a target profit percentage and see how it affects my final price.
• Adjust for different projects: Every piece is unique. The calculator lets me customize inputs for each commission.

Why You Need a Pricing Calculator Too 🤔

If you’re running a creative business, accurate pricing is crucial for several reasons:

• Profitability: You deserve to make money doing what you love. A calculator ensures you’re covering costs AND making a profit.
• Sustainability: Underpricing leads to burnout. Fair prices allow you to invest in your business and grow.
• Professionalism: Clear, consistent pricing builds trust with clients and shows you value your work.
• Confidence: Knowing your numbers gives you the confidence to charge what you’re worth.

How the Calculator Works 🛠️

The spreadsheet is divided into several sections:

1. Project Details:

• Project Name
• Client Name (optional)
• Date

2. Expenses:

• Materials Cost
• Shipping Cost
• Any other project-specific expenses

3. Labour:

• Estimated Hours
• Hourly Rate

4. Profit:

• Desired Profit Margin (%)

5. Calculations:

• Total Expenses
• Labour Cost
• Total Cost
• Profit Amount
• Final Price

Here are the tips on how to fill out the calculator:

• Material Cost Section: This section should include everything you will need to buy to make the piece of furniture. Brenda suggests listing everything out because even small costs can add up. For example, you should include the cost of cleaning supplies, sandpaper, primer, paint, wallpaper, varnish, wax, and door handles.
• Packaging Costs: If you need to ship the furniture to the customer, factor in the cost of packaging materials and courier services.
• Labour Costs: Include your labour rate per hour and estimate how long it will take you to complete the piece.
• Other Costs: Include any other costs associated with the piece, such as selling fees or travel costs.
• Target Profit Margin: Enter your desired profit margin as a percentage. This will calculate the target price you should charge to cover all your costs and make a profit.
• Selling Price: Enter your estimated selling price for the piece of furniture. This will calculate your estimated profit or loss.

The calculator automatically updates the final price based on your inputs, making it easy to experiment with different scenarios.

Download the Calculator and Start Pricing with Confidence! 💪

I’m so excited for you to try out this tool and see the difference it makes in your business. You can download the commission calculator spreadsheet [here]([Insert link to spreadsheet]).

Remember, pricing is not a one-size-fits-all situation. Experiment, adjust, and find what works best for you and your unique business.

Let me know in the comments if you have any questions or if you’d like to see more pricing tips in future posts!

Happy creating (and pricing)! 😊