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# How to Price Your Woodwoorking Projects

### How do you price a woodworking project?

Overhead costs consist of the rental and utilities of yourÂ shop, tools, glue, nails, sandpaper and finishing materials. An industry average is 15%. MultiplyÂ yourÂ total of materials and labor by 15%. For the table, multiply \$136.50 by 0.15.

## Calculate The Cost Of Raw Materials

Calculating how much the raw material cost is the most pivotal part of pricing your woodcraft to ensure a profitable business. For this part, you need to add the price of the materials you used. In many cases, these materials include lumber wood, cedarwood, oak wood, etc. They are the go-to materials for furniture and table making, and youâ€™ll most likely be working with them a lot.

Imagine youâ€™re trying to make a coffee table, and you used 30 wood planks during this table project. If a single plank costs \$5, the total cost of the material used to make the table will be \$150. This alone means you will need to charge at least \$150 for the table.

Calculating your price this way makes it easier for you to maintain your business instead of coming up with an inaccurate price. To avoid overpricing or underpricing, this mathematical method might save you a lot.

It will also help if you select the materials carefully. Our experts suggest that you never go for substandard materials as they will only be detrimental to your workâ€™s quality in the long run. At the same time, try to go for a material that isnâ€™t so expensive. This way, you can keep your raw material expenses as low as possible.

The only exception to the second rule is if the work will be for a luxurious customer who has the means to splurge on a woodworking project. In that case, you know they have the money to spend on your furniture and can easily cover your per-hour work fees, raw material prices, and more.Â  Follow us.

## Hourly rate

This is the least straightforward part about how to price your DIY woodworking projects. Itâ€™s about the finished product, but itâ€™s also about your timeâ€”how much amÂ IÂ worth? It can be a really big question!

For starters, youâ€™ll want to make at least minimum wage. Hourly rates can depend greatly on your area; in general, prices are higher in cities and lower in rural areas. If you have years of experience and fine techniques, you can charge more. Personally,Â Iâ€™d aim for between \$25-80/hr, depending on the technicality of the job. If youâ€™re doing some basic pine construction, itâ€™s on the lower end. If youâ€™re doing computer modeling or laser cutting, using biscuits and laminating, Iâ€™d go on the higher end.

#### Time is of the essence

Keep track of your time as best you can. Remember that things almost always take longer than you think they will. Some of the steps to include are: designing the piece (and any back-and-forth communicating about it, which can be a lot!), shopping, loading/unloading, building, finishing, cleanup, delivering, and installing.

#### How to factor in overhead

Your hourly rate is also where you can factor in your overhead. If itâ€™s just a side hustle, you probably wonâ€™t have business insurance and you might be working out of your garage. But youâ€™ve still got tools to buy, consumables like sandpaper and glue, and other things around the shop. If your customer would go to a full-time woodworking shop, theyâ€™d likely pay a starting hourly rate of around \$85 or more.