A few things have changed since our last post but for the better. When we got our first order come through i was horrified about the size of the beads, i did not realise just how small 4mm beads were. We was not happy with what i ordered and we would not be able to make money from these unless we done them as a set of 4 or 5. So with that said i went to order more straight away for the same colours but in a bigger size you would only get 70 per pack for £1.39. I did not order much to begin with as we had to make sure this order was going to be correct. We only got a few colours to start with and waited for them to arrive.
With the order having to change we now had to re-think about our sales, how to make profit, what price to sale them at and how to sell them.
Our original idea was to sell each bracelet for £1 when we were going to sell the 4mm beaded bracelets, but this is now been scrapped.
If we only get 70 beads per pack for 1.39 which makes that about 2p per bead. There would roughly be around 20 beads per bracelet, depending on the size, which equals only 40p per bracelet. The cord we got cost us £2.50 for 12 meters. So times 39 by 12, (39 inches per meter, 12 meters in role) which equals 468 divide by 10 which equals 46. So we can make about 46 bracelets per roll. which means the cord per bracelet only costs 5p . The crimp beads cost £2.15 for 500, if we use 1 per bracelet then we could make 500 bracelets out of them. This means that each crimp beads is less an half of 1p, giving us the total of about 45.5p per bracelet.
We could still sell the bracelets for £1 if we wish and still make double the money, but i think we can push them up higher because if they are to cheap they may see them as being low quality and walk away.
Once our new order comes through and we start combining colours together, then we can come up with a price then, but for now i think we could sell them for about £2.00, making four times the money for each bracelet.