Pricing your Product

Fiona Barden is the new Business Development Coordinator, Industry and Destination Development at Coffs Harbour City Council.

Fiona knows a lot about small business. She and her husband David, ran a business in Sydney before moving to the Coffs Coast where they owned and ran the highly successful Butterfly House.

Now the duo run the business Wood We Create Gallery in Boambee.

“David is the creator behind the business” Fiona said. “It’s his skill and passion.”

Fiona has spent a number of years delivering business advisory programs with ETC and has worked with a number of creative businesses through startup and expansion.

One of the most common questions Fiona has been asked by the creative business owner is, ‘How do I know what to sell my creations for?’ Fiona’s session at the Creative Industries Forum – The Business of Being Creative will look at the pricing of products for sale.

“Sometimes artists feel it is too showman-like to charge too much but it’s also too belittling to charge too little. So I ask them, ‘Well, what’s your time worth?’” Fiona said.

“A key component to pricing is certainly to value the hours you as an artist have spent learning your skills, the time that has been used for you to get to this point and the money that has been spent setting up your business endeavours.  As you consider a selling price it is important to value this investment.”

Fiona’s greatest opportunity with the creative Industries comes through the startup and growth of her husband’s gallery. Exploring market research, costs and profitability, and looking at professional delivery have enabled Fiona to use her business skills to mix with an understanding of the beauty and skill of delivery of the actual product.

Fiona’s new role with Coffs Harbour City Council will look at facilitating attraction of individuals, businesses and events into the region.

“Our region has a large number of opportunities for creative industry businesses and events. Understanding the opportunities that are presented in these endeavours is an important focus,” Fiona said.

The Business of Being Creative forum is designed to help people turn their creative endeavours into a profitable business.

This event will run on Tuesday 24 May at the Slim Dustry Centre in Kempsey from 9am to 6pm. Early bird tickets only cost $69!

To find out more information visit: www.etcltd.com.au/creativeindustriesforum or contact Marilyn Breen, ETC Business Advisor, Kempsey on 0417 201 794 or Kevin Riddell, Business Programs Manager in Coffs Harbour on 0408 128 496.

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