Wholesale vs. Retail Pricing
(Materials + Labor) x 2 = Wholesale
Do your research!
Compare the prices of your work to similar items sold at:
- Local shops & boutiques
- Craft Mafia, Made in Baltimore, etc.
- Other Art & Craft Shows
- Online shops like ETSY
Speak with faculty, group leaders, peers, art collectors, internship supervisors and other professionals for insight. For more helpful tools check out the Career Development Quick Links below.
Selling to Customers
- Stand up
- Engage customers
- Tell a story
- Share your inspiration
- Sell other people’s work! It’s a joint effort!
You are responsible for paying your own income taxes. When self-employed, you must file and pay self-employment tax if net earnings are $400 or more in the state of Maryland.
“the moment it is created and fixed in a tangible form…” - US Copyright Office
You are responsible for keeping a record of your business expenses and income. This is an important tool for paying your taxes, managing your business's budget, and growing your business.
You can reference the Lynda link set for helpful videos to learn more about accounting and record keeping.