How do i do this properly?

I've been making and selling my cards in a couple local bars for a couple of years now, just making them, buying the bits and bobs i need and not thinking about the money/business side of things.
I know I'm not losing money-definitely covering my costs but this year we've decided i can go part-time at work (i just work the summer season-may to September) and concentrate on my cards a bit more, have them in a couple more places, see how it goes and think about maybe expanding to etsy or similar.
BUT i need to run it properly not just as a hobby and i have no idea where to start, how do i work out the actual costs of each card etc? should i set up a new bank account only for the cards, once a month putting the card money in and using only that account for supplies etc?
Any hints, tips and websites that might help will be gratefully received

:thanks:

Hi there, your question is a good one as I'm sure many of us would like to know not only how to work out the business side but also how to price our cards for sale. I have lots I could be selling but don't know how to go about it. Thanks for raising the issue and hopefully someine will answer the question for us. hugs June xx:blink:[FONT="Comic Sans MS"][/FONT]

Very good question.
I would also be interested to know how to go about working it out.

The best thing to do is to work out the actual cost of making the card, and then add on the amount per hour that you want to be paid for making the card.

E.g. if a card takes 10 mins to make and you want to be paid £10 per hour - then your time would be £10 divided by 60 mins x 10 mins = £1.60 (approx) per card PLUS the actual amount of stash used.

I would keep accounts in Excel of incomings and outgoings including petrol/time to deliver (based on £10 per hour), going to post office etc. etc....

Thank you Hysteri-Cal

If you already sell cards in bars etc. Then you should have been doing a tax return. Any amount you receive, no matter how small, should be declared in this way as it is a form of self employment and you could be liable to large fines if you do not declare.

it's up to you how you want to work the money but I'd say a spreadsheet is very helpful. Fill it out as you go along and you won't have loads to do at tax return time :)

Kevin x

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Originally Posted by kevie192

If you already sell cards in bars etc. Then you should have been doing a tax return. Any amount you receive, no matter how small, should be declared in this way as it is a form of self employment and you could be liable to large fines if you do not declare.

it's up to you how you want to work the money but I'd say a spreadsheet is very helpful. Fill it out as you go along and you won't have loads to do at tax return time :)

Kevin x

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The OP lives in Greece Kevin so it's possible that things are different there.

If you did do it as a buisness. and you do a tax return than you can get milage if you drive. barclays bank have a free web site for people interested in starting up a buisness. or you can look up and they are groups that give you all the help you need and it free advice,
they give you support.

Hi.. Depending on the type of cards u make and how long it takes u will decipher whether it's a business or not.. For me it isn't as it takes me 45 mins to colour a digi and 45 mins to make the card.. I sell for £2.50 in my sister in laws salon and on etsy but that's not a lot per hr lol so just as long as I sell the ones I make I dnt think u can make money out of it.. Especially as I can't stop buying new digis and papers

Oh minimum7676, I do so agree with you! I have sold a few hundred cards over the years but I reckoned they cost me about £100 each if I took into account my expenditure over those years! However, it is really my hobby and what gets me out of bed each day (apart from my dogs). I'm the sort of person who should never have taken up papercrafting, given that I am both a shopaholic and a hoarder (not to extremes though) but on the rare occasions that I am satisfied with a card I've made it gives me a real buzz and when I'm feeling guilty about how much I've spent over the last 7 years I remind myself that I no longer go on holiday, rarely eat out and don't smoke or drink (apart from the occasional glass of wine). Am suffering from a creative block at the moment so started reading the Card Making thread hoping to find inspiration. I keep accounts so know exactly how much I've spent which I break down into Capital and Consumables. The hardest part for me is trying to calculate the ink costs as I do a lot of trial and error and never remember to keep track of how many pages 1 cartridge will print. At the end of the day I think market forces rule, a card is worth what someone will pay for it.