Want to understand how to price a bow

[vinemaplebows]

It's like a friend of mine who does some of the most amazing wood turning, really high class and perfectly finished....he can't make any money at it because there are loads of older/retired folks who do wood turning as a hobby - and then they sell the things they make for virtually nothing. This i what determines the 'market price' for something. It as though if they cover the price of the wood blank then that's enough for them because it's just a hobby and they don't need to make any money at it. If however you want to do this sort of thing for a living you have to charge a lot more to come even close to actually making a living and not just scraping by all the time.
I'm just about ready to give up making bows for a living. When I see you guys quoting $200 or whatever for a bow then that's cool but I know for a fact that a living can't be made at those prices. What you have got to remember with bows is that the market is very small, even looking at it Worldwide. The overheads start adding up mighty quick and then of course you still have to be able to find perfectly straight grained wood as and when you need it. Wood prices are on the up and up and are never going to get cheaper now. The best boards are bought up long before they even reach woodyards where your average guy can go and buy.
Heck making bows for other people is just a pain and you are really going to have to complete the whole package to make any money long term. I think for guys who got into it a while ago and did some good marketing there's a chance but for the new guy trying to get his name out there - it's a hard way to earn a crust. I could go and get a 'normal' job that would pay many times what i'm getting now with a whole lot less hassle.

I would like to look at you business plan......depends on what you are trying to make. Board bows cranked out for the newbie @200 is doable "if" you are willing to drop the artistic side of bow making. Easy add ons (cherry bark, snake skins ect.) are easy to apply, and a really easy upsell.

VMB

[Carson (CMB)]

Selling wood bows is tricky for a number of reasons already elaborated here.  I am trying to make a living at it and it is not easy.  Like Brian, I have found that selling the supplies to make bows is better business, simply because there is so much less headache.  As far as your question about pricing, it depends a lot on whether or not you are a registered tax paying business or just a bowyer who sells a couple on the side.  The registered business has a lot more overhead and liability.  I dont know if the liability is all that different from a legal standpoint, but the target on your back is much bigger.  A registered archery business also has to pay Federal Excise tax on each bow sold, whereas if you are just selling a couple here and there, you are probably not paying this tax.  This FET, the result of the Robertson Pitman act goes to fund government wildlife management and habitat protection, creation.  It is the same tax rifle and ammo manufacturers pay.  I don't get up in arms (no pun intended) over paying this additional tax, as it is one of the most successful user pay/user benefit tax systems in the world.  I am sure it is not perfect, but I like to think that money I give to Uncle Sam actually does get used to create more hunting opportunities.   

As for pricing in general, the level of finish work greatly determines the final price of a bow. 

[JW_Halverson]

Selling wood bows is tricky for a number of reasons already elaborated here.  I am trying to make a living at it and it is not easy.  Like Brian, I have found that selling the supplies to make bows is better business, simply because there is so much less headache.  As far as your question about pricing, it depends a lot on whether or not you are a registered tax paying business or just a bowyer who sells a couple on the side.  The registered business has a lot more overhead and liability.  I dont know if the liability is all that different from a legal standpoint, but the target on your back is much bigger.  A registered archery business also has to pay Federal Excise tax on each bow sold, whereas if you are just selling a couple here and there, you are probably not paying this tax.  This FET, the result of the Robertson Pitman act goes to fund government wildlife management and habitat protection, creation.  It is the same tax rifle and ammo manufacturers pay.  I don't get up in arms (no pun intended) over paying this additional tax, as it is one of the most successful user pay/user benefit tax systems in the world.  I am sure it is not perfect, but I like to think that money I give to Uncle Sam actually does get used to create more hunting opportunities.   

As for pricing in general, the level of finish work greatly determines the final price of a bow.

That 11% Pittman-Robertson Act tax is an amazing benefit for those of us that hunt public land and can't afford to pay access fees to paid hunting operations.  (Besides, pay hunting to me is much like visiting a woman of financially negotiable morality.)  No other industry or organization in the U.S. has ever voted a tax that high on themselves....EVER!  Guess that's what the outdoors means to us, huh?

[Weylin]

There's a small percentage of the population that is interested in archery. Of that group most of them are interested in compound bows. Of those that are left the vast majority of those are interested in fiberglass bows. That leaves a measly pool of prospective archers that are interested in wooden bows. AND THEN, I'd say a fair majority of that small number of wood bow enthusiasts are wanting to make their own bows as opposed to buying them. From a business perspective that's a pretty dismal customer base. I sell a few bows here and there on the side.

I do like vinemaplebows says and figure what my time's worth and then factor in the material cost. There's no value in under selling yourself. If you're going to "give them away" you may as well literally give them away. I agree with the idea that most people will value the bow about as much as they paid for it. If they buy a bow for $100 then they'll treat it like it's worth $100 but if they pay $600 then they'll treasure it more and show it off proudly.  Plus, raising your price will serve to cut out many people who will not take the bow seriously to start with. Not to say any of that is a guarantee but it can help tip the odds in your favor.

That being said, you need to do your damndest to make sure your bows are worth what you're asking. both in performance, durability and appearance. We're not trying to hoodwink anyone. Like JW said it can be a fine line between giving people what they want and taking advantage of them. You want to walk away from each transaction feeling like it was worth your time and you made someone's day and they should walk away feeling like they just bought a priceless treasure for $500 (or whatever price). 

[vinemaplebows]

Don't forget the renaissance fairs, if you can hack it you will find some buyers there. These buyers are looking for bows on the cheap, make them witrh this in mind....they are not archers for the most part. Red oak, white oak should be fine for this group. Remember you are selling to ALL KINDS......What we may cringe at here, they may think is really cool. I just can't dress in dresses, I dress bad enough as it is!


VMB

[toomanyknots]

Do english longbows and warbows fall under the FET tax, as they are for the most part not made to hunt with?

[PatM]

There was an article on this in a past PA. Yes, if a bow is hunting weight it falls under the same category.

[Joec123able]

the guy at the club who im selling the bow to only wanted to pay 80 for the bow but i said 100 minnimum. he agreed. not bad scince the wood was free.

No sence in bragging over free wood i get all my wood free from the woods

[bubby]

Don't forget the renaissance fairs, if you can hack it you will find some buyers there. These buyers are looking for bows on the cheap, make them witrh this in mind....they are not archers for the most part. Red oak, white oak should be fine for this group. Remember you are selling to ALL KINDS......What we may cringe at here, they may think is really cool. I just can't dress in dresses, I dress bad enough as it is!


i'd wear a dress if I could meet this gal http://www.youtube.com/watch?v=EVbu8bh7SWk

[PatM]

Don't even have to click the link. The hot violinist, right?

[bubby]

you got that right Pat

[vinemaplebows]

Yep, nothin like a women that knows how to stroke her instrument with a smile!

[huisme]

Yep, nothin like a women that knows how to stroke her instrument with a smile!

So off topic--

But so correct.

[StickMan47]

I almost sold this bow for two eighty before I heard him mention the sucker he's buying a bow from, which just makes me that much more confused about prices  : http://imgur.com/a/fCEHf

Huisme, hearing a person say that right there would irritate me to no end. I'd prolly tell him to go find another place to buy a bow from. I'm pretty new to this. I have yet to make a bow that I would be willing to give away much less sell. I have put a lot of time in the little that I have done compared to others on here. I think my problem is that I strive to make everything too perfect, and I'm too inexperienced to be doing that. But I'm just that way, I do it at work on the job, I guess it's a pride thing. I don't brag on myself or pat myself on the back but after I build something I like to be able to step back and look at what I have made and know in my heart that I made it to the best of my ability and gave it my all. And if I did that with the bow you showed in the pic and heard someone make that comment...... well, lets just say that he wouldn't like what I had to say back. An old friend, who was like a grandfather to me, always told me growing up that "if something is worth doing, then its worth doing well".

It seems to me that the potential buyer knew the value of the bow you made and was expecting it to cost a lot more than what you were going to ask for it. In turn he thought he was getting a pretty good deal which made him think that you were a sucker for not charging more! Personally, I think you made a fine bow, but I don't think I could sell him that bow after the comment because I don't think he would appreciate everything that went into creating it. As was said before, when people don't have to pay much for things they take it for granted.

I don't know if I will ever sell a bow, but if I did I would charge enough to for sure make a profit off of it after taking into consideration  the time and skill level you feel you are at. Just my 2 cents!

Oh.... I almost forgot..... there is a mark-up of $100 for each comment like that. 

[huisme]

My exact words were "I'm not a sucker and these aren't lollypops they're bows, and I've decided they're too expensive for you." After that I just walked into the house before I made a fool of myself.

And wrote that down because it's one of the coolest things I've said.