It’s been an eventful week. I’m making the final purchases of equipment and supplies, based on the requirements of tooling in the metalsmith class. That order should be complete by end of next week. Comparison pricing slows us down. The financing is complete. The credit card processing service is selected and approved and ready for application to the website. I have a comprehensive list of shopping cart providers that will link the individual items and be the go-between from my website to the credit card processor and banking institutions and back. Reviews of the policies of each shopping cart provider are necessary before a final selection is made. I have the pricing model for each item, which takes the accumulation and depreciation of all the classes, equipment, supplies, permits, I.T., software, website, and communications we’ve established into consideration, and made a best guess as to the number of items required to be sold per month to cover our expenses.
This leaves us with what I feel is a very attractive sales price for about twenty of the twenty-four items we have listed. The four that are above average in price are the models that are in part 18k gold designs. The price range of the majority items is between $20 and $40. Price fluctuations are based on the spot price of the silver and gold content of the designs, in that I’m trying to keep the prices as realistic and low as possible. I prefer that pricing model over one that compensates for spot price fluctuations by having a blanket overage that may keep the individual items at a fixed, above average price.
I’m reviewing the legal policies, required for posting to the website, this week. I have two photographers I have to interview, and make a choice of one, to take pictures of my designs for upload to the website and link to the shopping cart. I have to contact the web developer to spiff up the website, or I may decide to use new formatting supplied by the credit card processing company, an unexpected plus I wasn’t aware of that came with their service package. I’ve selected a shipping service and only need to establish a business account with them.
So lots of accomplishments this week, but there still remains lots of details to finalize as we move into testing, production and also completion of the website.
To keep our expenses low, a few minor items of equipment come from overseas with, unfortunately, longer shipping dates. The final pieces aren’t scheduled to arrive until the end of October to middle of November, so it looks like our end of October opening date may now be end of November. The expected shipping dates are just estimates though, so with some luck, we may receive all of our equipment by the middle of October, which should help to keep us very close to our October opening date.
Quote of the week:
“Why do anything unless it is going to be great?”
~ Peter Block