Choker.

This post is dedicated to the production costs of an accessory and its calculation as an assignment for the Parsons x Teen Vogue course. 

For this particular assignment, I decided to showcase the production costs calculations of a sueded choker.

So how does one do so?

First, you need to figure out how much of each material is needed for the production and its cost. I ventured into my local crafts store and found sueded cuerdas for 0.5€/m. As I needed  2 meters for my choker, I added 1€ in total. Adding the cost of the brooch, which was 1,5€/piece afterwards.

Then you have to include your desired wage, the amount you would like to be paid for your work. For me this was 7€ /hour. The entire production took half an hour, therefore I added 3.5€ as well as the desired profit (20% for me).

After which I was left with a retail price of 8€ per piece.

As I don't necessarily think this piece would pique people's interest at such price, I tried to lower it. How? By finding a cheaper source of materials online.

I found sueded cuerdas for 1.60€/10 metres and brooches for 2€/10 pieces, both from a local online store (trying to limit the potential CO2 footprint). This meant that the retail price could be decreased to 5€ per piece, a much more appealing price range, while still making a profit.

To conclude, buying materials in bulks is much more efficient, especially when producing more than one piece of accessory (mass production), otherwise you are left with an excess of materials.

See you next time!