One of the most common questions I get from aspiring crystal sellers is about pricing crystals. Previously, I recommended calculating your exact profit margin to decide what price to charge for your crystals.
I still think this is the best way to know how much profit you’re actually making, so you’re not accidentally underpricing your products. Underpricing is one of the worst things you can do in a retail business.
But, calculating your exact profit margin for each crystal can be confusing, and time-consuming. As a small crystal shop owner, time is the most valuable asset that you have.
In this blog, I’ll show you a faster way to price with my free pricing calculator. And, I’ll address a frequently asked question: How do you price crystals by weight?
Table of Contents
- Common mistakes when pricing crystals
- Use a multiplier to price crystals
- How to price crystals by weight
- What’s next to start a crystal business
Common mistakes when pricing crystals
Not marking up the price enough to cover costs
This is why I recommend calculating your exact profit margin for at least one shipment of crystals. If you don’t know what your profit margin is after supplies, shipping, fees, and taxes, you could be underpricing and not even know it.
Comparing your prices to other shops
It’s tempting to visit other crystal shops and compare their prices to yours. Resist the urge to raise or lower your prices based on what another shop is charging for the same item.
Every business is different, and what works for their business is different from what works for yours. You can’t tell just by visiting a shop whether their items are priced fairly. For all you know, they could be overpriced, or they could be losing money.
Instead, you should price your crystals based on what you paid for them.
The only exception is if you score a really great deal on a valuable item. Then, you might consider raising your sales price to meet the market.
Not basing your prices on weight
If you’re buying crystals in bulk, you might not be sure how much to charge for each individual item.
Instead of arbitrarily assigning prices, you should be pricing them by how much they weigh.
Not sure how to do this? Keep reading, I share the 3 best ways to price by weight later in this article.
Use a multiplier to price crystals
This simple concept will speed up your pricing process. Take the price you paid for the item, and multiply it by a multiplier.
The cost you paid * Multiplier = The price to charge
What is a multiplier?
It’s a number that you choose yourself. Anecdotally, many online crystal shops use multipliers of 2, 3, or 4.
If your multiplier is 2, then you double the item cost to get your sales price: Cost * 2 = Price
If it’s 3, then you triple the cost: Cost * 3 = Price
And so on.
That might sound like a big markup. But, if you go through the profit margin exercise described in my crystal shop guide, you’ll realize that to make any significant profit you have to charge at least triple.
How to price crystals by weight
Crystal shop owners typically buy their stock from wholesale crystal suppliers. Items like towers, spheres, palm stones, freeforms, and clusters are often purchased in bulk. This means that you pay one price for all of the items that you purchase.
Then, the challenge becomes: How to set a sales price for each individual item?
For example, I bought a kilo of apatite towers from my supplier, and received 7 towers.
As you can see, they’re all different sizes. I can’t sell them all for the same price. The smaller towers are worth less than the bigger ones.
Here are 3 top methods for pricing crystals by weight.
The easiest way to price crystals by weight
The easiest way to price crystals by weight is with a deli scale.
This is what crystal suppliers use to quickly price items. Deli scales are widely available on Amazon and other online retailers.
Pricing crystals using a deli scale
- Place an individual crystal on the scale
- Take the total cost you paid for the lot and multiply it by your Multiplier
- Take that number and set it as the unit price on your deli scale
- Voila! The deli scale will tell you the total price (exact price to charge for that crystal).
Use my crystal pricing calculator
I created this tool for the many readers who have contacted me, asking for a simple way to price crystals by weight.
All you need is an inexpensive digital scale.
Pricing crystals using this calculator
- Weigh each individual crystal
- Add the weights to column B
- Add the total cost you paid to column E
- Adjust the Multiplier in column F (if needed)
- The spreadsheet will automatically calculate prices for each item, as well as total weight, total revenue, total profit, and profit margin.
Formula for pricing crystals by weight
If you prefer to calculate the prices manually, simply use this formula:
(Single item weight / total weight of all items) * (total cost of all items * Multiplier) = Price
What’s next to start a crystal business
On pages 7-8 of my guide, find more detail about how to calculate your exact business profit after supplies, shipping, and other fees and costs.