Cricket's Nest

ConsignCloud system calculates payout differently than the old system. Cricket’s Nest continues to split sales with members however some adjustments were adopted to handle converted inventory is explained below:
87% Split for 2024:

• The new system calculates the split between members and Shop based on ticket price. Without modifications, all items ticketed in 2024 would result in less paid to members when sold.
• To avoid repricing and creating thousands of new tickets, the Shop absorbed the difference and pay members 87% for 2024 inventory converted from the old system. This change, members receive their expected amount.

85% Split for 2025 and forward:

• All inventory items consigned starting January 2025 will be split 85% to members 15% to shop because price tickets are created with the new calculation.
• Members should price newly consigned items slightly higher to receive the original expected payout they were accustomed to receiving.
• Members can choose to continue consigning items with their original ticket price but they will receive slightly less at payout.

Let’s start some conversations about that $8.80 “average price elephant” in the room. As already said, the average price for consigned items before 2024 was $10 and that number was trending downward.

Impromptu discussions about pricing always pop up during take-in appointments and Board Meetings. Especially when members wander through the Shop and compare their prices to other members making similar items. “I can’t possibly sell my stuff that low! I can’t even make enough to cover my supplies.” Usually this happens when a member is trying to run a viable business. They leave deflated and sometimes let their membership lapse. More often they try to find a craft that costs less to make so they can earn at least a small profit. This doesn’t “hurt” physically, but it can take an emotional toll. Lowering prices means the member doesn’t make much money but it also means the Shop looses operating capital.

Over the years, we have learned that members who price low are only looking to make enough money to cover supplies. They don’t consider time spent on activities like learning or making their craft because it’s a hobby… and it’s fun. But, consider all of the time you allocate to administrative tasks like buying supplies or paperwork. And let’s not forget taxes. Eek!

You, our member artisans, are some of the mosttalented people we know. Shoppers visit Cricket’s Nest because they value the quality and variety of the products you offer. If you compare your prices to other local shops, I’m sure you will find that you only charging bargain basement prices for similar items. Think about the prices you pay when you are buying hand made treasures for yourself or your friends and family.

It’s time to re-evaluate your prices so you can afford to pay yourself… for your time, for your training and experience, for your materials, and even for your computer time administrating! In other words… stop underestimating your value and believe that you are one-of-a-kind, just like your crafts.

Two of our members, Terry Stilson and Cynthia Tysinger, have created a great pricing guidelines handout inspired by the book and movie “The Help.” They want to help you see that you are worth so much more than you realize. Own it and let the world in on the secret you’ve been keeping under wraps. < insert big cheesy grin and a wink >