HOW TO PRICE YOUR 3D PRINTS

3D printing is gaining in popularity and becoming more accessible to a variety of people who use it as a hobby, side hustle, or a lucrative business. There are definitely factors that separate these types of makers, and one of the most definitive factors is pricing.

3D Printing Pricing Strategies

There's no one simple formula when it comes to a pricing strategy, especially in the creative realm, but there are a few key points to note so you can ensure you're being compensated for your time, material, skills, and maintenance of your machine(s), whether you print professionally or as a hobbyist.

One of the biggest lessons we've learned in our creative business, between laser products and 3D printed products, is that you are the person who put the time, money, and effort into learning the skill and it's important to be compensated fairly for those skills.

What to Take Into Account When Pricing

Beyond the basics of time and material, what should be taken into account?

• Hourly wage - What do you want to earn hourly? This should always be higher than minimum wage. You have a skill and deserve to be paid for it. With 3D printing, it's a little trickier since a print may take days to print and it's unreasonable to pass on $25/hour of print time onto your customer. No one will pay that. However, think about the post-processing work you need to do to your prints. The time you take cutting away the supports, using a heat gun to melt wisps, digitally painting your models, social media marketing, etc. Tally up your hourly wages based on those hours and factor them into your product prices.

• Hydro/Electricity costs - Whether you're running one printer or 40, you're incurring extra costs each month. This must factor into your prices. Compare your previous utility bills to see the cost difference.

• Taxes - In Ontario, If your business revenue exceeds $30,000, you must register for an HST account and start charging HST on your taxable goods and services. Once registered, you need to charge GST/HST on your sales, collect it from your customers, and remit it to the CRA.

• Market/Vendor Fees - Depending on your region, each vendor event can cost anywhere from $30-$300. While some may argue that these are the costs of doing business, it's not sustainable or scaleable over time if you're losing money in hopes of making money at an event. Some vendors adjust their pricing based on the region, or event they are attending. However you recover the cost, it's important to have a strategy.

• Shipping - Guess what? There's no such thing as free shipping. Also, you don't have Amazon's buying power. Yes, shipping prices in Canada are outrageous. Try looking for a discount shipping service or offer tiered shipping prices such as spend $100 and receive free shipping. Although it's true that customers value free shipping, it's good to offer competitive pricing with a disclaimer. Most will understand.

• Waste - 3D printing comes with waste. Failed prints, purge towers, and poop. These are all factors that can eat into your profits and should be accounted for.

• Machine Maintenance - Replacing nozzles, fixing clogs, bowden tube replacement, cleaning Z screws, replacing carbon filters, knife cutters, regular calibrations...all these things are just part of maintaining your machines and keeping them performing optimally.

• Website/Marketing Materials - There is so much labour behind the scenes when it comes to creating a website, maintaining a website, adding products and keeping track of inventory. In addition, there are costs incurred for marketing materials such as signage, stickers, business cards, shipping boxes, packing material, etc.

• Subscription Fees - 3D modeling software, 3D model licences, Patreon subscriptions all add up and these must be factored into the costs of your products.

All these things may seem like overkill, but when you're running a business, these are all expenses you will incur. And, if you want scalability to expand your business, hire employees, increase production, buy more machines, it's crucial that you work these factors into your pricing structure.

Final Thoughts on 3D Printing Pricing

Pricing your 3D printed products isn't just about covering the cost of materials and time. It's about valuing your expertise, the maintenance of your equipment, and the myriad of behind-the-scenes costs that come with running a business. By carefully considering all these factors, you can ensure that your pricing strategy not only compensates you fairly but also supports the sustainability and growth of your business.

Remember, your skills and creativity are valuable, and so is the time and effort you invest in each piece. Don’t undervalue your work. Take the time to regularly review and adjust your pricing strategy to reflect the true cost of your products and the evolving market conditions.

Whether you're printing as a hobbyist or running a full-fledged business, the key to success is finding the balance between being competitive and ensuring profitability. By doing so, you can continue to enjoy the process of creating while building a sustainable and rewarding venture.

Happy printing!