Mar 29, 2019
Episode 165: James Newcomb AKA Jimi
the Don
@mindfulglassworks on Instagram
Bio:
I was born in Providence, Rhode Island, 16th of
June, year of our science, 1980.I dropped out of college to get into business
management, traveled around the country for a bit, sold glass for
people at shows and festivals and
such. Started
working with glass as a medium in the late 90s, got into
lampworking in 2004, and have been shaping it into a career ever
since.
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MANUFACTURE YOUR PRODUCTS ACTUALLY IS.
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How to
calculate cost of production
In this example I'm using reference
from internet which has material price based on length
.....
This is a generic example
example 3"-wrap and rake hand
pipe
Material breakdown :
2" section of simax 25.4 hvy wall
($8.00/60")
$0.13per inch or
$0.26(2"section)
1/2" section of color cobalt firsts
($5.25/18")
$0.15
9" section 4mm clear for raking
($0.52/60")
$0.09
Estimated total for cost of
Goods
3"wrap and take spoon
($0.26+$0.15+$0.09)=$0.50
Propane/oxygen/power is pennies on
the dollar if you're able to get liquid oxygen. If you are renting
space you still need to calculate your estimated per hour rate. If
you pay $1500.00/mo(power,rent,gas) break it down to per day then
estimate how many hours you work in a day and use that number as a
base calculation.
$1500.00/month (30-day month) is
approx $50.00/day (per hour in a 10-hr day)
$5.00/hr
(gases,power,rent)
If you can make 10-$5.00 3" wrap
spoons per hour your estimated cost per hour is
$10.00/hr
(power,rent,gas) $5.00+(material x's
10-hr) $5.00= $10.00/hr. to manufacture 10-$5.00 spoons
Net-$50.00(10-$5.00 3"
w/r)-$10.00(cost to manufacture)=
Gross approx $40.00/hr.
In a 8 hr day do the math
You can see just by getting a good
base line down for estimating your cost to manufacture
you have the ability to make anywhere
from
$30-60.00/hr gross profit
Gross= income
Net =income-cost to manufacture
=profit
Now take 15% of your gross and put
that aside for TAXES !!!!