Production Costs

 Let's look at the production cost for making the fan fascinator from the last course. When buying the main part of this piece, the fan, it costed around $10.25. In order to make fascinate it onto the head, I used a hair band, which you can get on Amazon for about $4.98 each. To attach the fan onto the head band, I used hot glue (although if I were to actually sell this item I would have used something stronger and more reliable, but I did not have the right resources to do that). The cost that goes into glue a fan onto the head band is very small: approximately less than $0.10 so we will just say it would cost about $0.05 per fascinator. The amount of time this took me to make was approximately 15 minutes, and assuming that an hour of my time is $9.00, that would be $2.25. Adding all of this up turns out to be around $17.53, and with 20% profit, that would make it about $21.04. I would say that the retail price would then be about $23.00, as that would cover production costs and the profit margin.

While doing this assignment, I learned that there were a lot more things that I have to think about as an aspiring designer, when it comes to making my products. Questions like "is this material viable for the product?" "is this material cost efficient?" "how much of the 'quality' of my materials should i sacrifice for the cost or how much of the cost efficiency should i sacrifice for the quality of the materials?" were all things that I was forced to think about when doing this project.