If you are a small or home-based business owner who is starting to gain traction with your laser engraving business, you may feel unsure about how to price your products and services. Though it is typical to charge lower rates when you are just starting out, you will need to evaluate your pricing as time goes on to reflect your experience and skill level. Knowing how much to charge for laser engraving is important to the success of your business, and you aren’t alone if you are feeling stuck when it comes to pricing.
At Aeon Laser Canada, we are dedicated to providing our customers with the support they need to use their Co2 laser engravers effectively. Beyond offering lifetime phone and email support to help you use your laser engraver effectively, we also provide helpful tips and tricks to improve your laser engraving business. In this post, we offer insight into how to price laser engraving jobs and products to help your laser engraving business thrive.
See our post, Yes, You Can Make Money With a Laser Engraver, for more information on how much you can expect to make with your laser engraving machine as well as ideas on what types of products you can offer.
How Much Should You Charge for Laser Engraving?
Knowing how much to charge for laser engraving can feel like a tough call. You’ll need to balance your expenses, your time, and your experience when settling on a price point that rewards you for the work you put in. Consider the following points when pricing your work.
Understand Your Costs – the most important thing you need to do when pricing laser engraved products or jobs is to understand your own expenses. Everything from your laser itself to materials you use and electricity or internet costs should be factored into your expenses. Without monitoring your expenses carefully, it is possible you could price your products too low. Our list of materials for laser engravers can help you get started with an affordable material when you are just starting up.
Consider What Competitors are Charging – look to other creators when considering what you should charge for your services to get a general idea of what customers might pay. What someone else charges should never be the sole determiner of what you will charge, though it can be helpful when looking to understand your market.
Consider Your Time and Effort – Simple products that take minimal effort and low-cost materials should cost less than complex designs or products that work with more challenging materials. Though setting a flat rate might seem like a good idea when you are getting started, you’ll need to consider how much of your time goes into a project to ensure you are being compensated for your skills.
Consider Fees for Rush or Custom Work – If you have customers looking for a rush job or custom work that is generally outside of your offerings, you could consider having additional fees. Though not all small businesses will do this, you may wish to consider charging more for products that take more of your time or will require you to work outside of your regular working hours.
Be Transparent and Communicate – When working with customers on custom work or large-scale products, it can be helpful to communicate why your services cost what they do. When your customers know how much materials such as a laser engraved tumbler cost, they will be more understanding of your pricing. Not all businesses choose to do this, and keeping your pricing structure to yourself is also a valid choice if this feels right to you.
Choose a Laser Engraver that Can Keep Up with Demand
Expanding your laser engraving business from a hobby to a high-earning side gig or full-time career can be an exciting thing. When you are considering how to price your services, know that having a powerful laser engraver can help you cut down on expenses.
A fast and powerful laser such as an Aeon Mira series laser can improve your productivity and product quality. An Aeon Co2 laser allows you to do more in less time while also being able to charge more for your high-quality products. Contact a member of our team today to learn more about how an Aeon Laser engraving machine can improve your small business.