How much do you full time makers get paid?

Jason Magruder

Jason Magruder

Joined
Mar 27, 2004
Messages
570
What's an average gross income for you guys?
Do you base your prices on an hourly rate? If so what is that rate?


How about you part time guys?
Do you make more per hour making knives than at your regular job?




The other day I was talking to my brother about a knife I had just sold and he thinks I undercharged. He said that I should make more doing something I have spent years learning than I do at my regular job that just about anyone could do. I've been thinking about this for a while and it really makes alot of sense. I usually base my prices on what I get paid at work. Now I'm thinking maybe I should start charging more for my time and skills.

I've wanted to go full time into knifemaking since I first started. I think I've finally gotten to the skill level that I can consistently produce high quality knives in a reasonable amount of time. Now that I've got that part down I need to work on selling them and marketing myself but that is very hard to do when I only have time to make a couple knives a month. The biggest challenge seems to be making the transition from part time to full time. When it can take up to a couple of months to get paid for the time I spend in my shop on any given day there almost has to be a huge time lapse between starting work full time and getting paid for full time. I think that problem is just a matter of squirreling away enough money to pay my bills for that length of time plus enough time to find another job if knifemaking doesn't work out. :D

I've been talking to alot of full time makers lately and one thing i've noticed is there seems to be alot more full time guys that make Lots of inexpensive knives than there are guys that make the higher end stuff. Inexpensive being around 150 and under IMHO.


Most of my knives recently have been in the 200-300 range. I generally make 10-12 an hour plus costs. That also happens to be what I make at my regular job 50 hours a week.
I've never had any trouble selling any of my knives within a few days of being completed but I'm affraid that it might get more difficult if I am trying to sell 2 or 3 times as many knives in the same time frame. Any thoughts on that?
 
Jason,
Have you read the sticky thread at the top of the forum? It answers alot of questons.
 
That kind a depends on what chicken is going for down at the supermarket this week. It will drive you nuts if you actually figure out what you are making per hour taken on a per week basis.

As long as there is food on the table and the bills are paid you are doing just fine.
 
you don't pay yourself...your customers do...;)


A buddy of mine owns his own web design company and charges $275/hr. He's the only employee and works out of his home. How's he get away with it? He only works for clients that can afford it. Oh....and he happens to be dang good as what he does. ;)
 
Unbelievable money, chicks, big motor homes for when you go on tour(knife shows).
Here's Kit's. Man I can't wait till I can get something like that. ;)
 
At this stage I don't feel I can reasonably charge for my expenses and a per hour rate; I'm still developing my skills and have zero name recognition. One could certainly go the route of lots of $150 knives but I have to believe that would get old very quickly.

When pricing a knife I look at what's selling and for how much, and by whom. If it's a relative unknown like me, how good is the quality? The style? This can be difficult to determine from photos. How much is the maker charging for his wares? Do they sell? I'm often told I do not charge enough for my knives, and I don't have any inventory on hand which tends to support that idea. But when I look at the work others are doing, and the relatively low prices of their work, I hold to what I think is fair.

I end up in the $200 - $300 range, which works out to something like minimum wage, after expenses. I make considerably more than that in my paying employment, and get benefits like health care and paid vacation. And air conditioning. Good looking coworkers. :D Knife making is certainly going to remain part time for the near term.

With any luck by the time I retire in ten years I'll have a little name recognition and have gotten my quality and consistency in order. Hopefully at that time I'll be able to work well enough to net a couple grand a month. That's about a knife a week I guess, at about $700-$800 a pop. That certainly seems quite a stretch, and assumes I will still have health benefits; if not I will probably have to work until I drop dead because I don't think I will be able to charge enough or produce enough to add a thousand dollars a month to my income to pay for insurance.

I'd recommend anyone think long and hard about going into knifemaking full time. If you have a significant backlog of good-paying orders that you're reasonably sure will actually pay, that would be a good start. Otherwise, just jumping in to make stuff hoping someone will pay your asking price is taking a lot on faith. :D You should expect to be able to fund travel to several shows each year as well as advertise in the major knife publications. This is expensive and necessary. And what about retirement? You will have to sock away some portion of everything you make just to take care of yourself when you get too old to work. That day comes closer, and faster, every year.

Good luck!
 
Yeah, I read the other thread a couple of times but I didn't find quite what I was looking for.
I've also read the thread on ckd forums.
I don't charge for the time it actually took to make the knife but how long it would have taken if everything came out right the first time :D I've also been working on getting faster at this sport. Knives that took me 18 hours last year I can now do in 12 with fewer mistakes. Generally my prices are quite a bit lower than others I see of comparable quality.
I have a problem when it comes time to make simple inexpensive knives. friday I got an order for one of my neck knives. It was supposed to be a fairly basic knife with nothing really fancy but for some filework for $120. 18 hours later I've got a basic knife with fancy filework and hot blued bail on both knife and sheath and a nickel silver ecutcheon in the sheath. Everytime I take on a project like this I just can't help but put in a few little touches that were not part of the price quote but just make the knife better. I really just don't like to make plain knives but alot of customers can't afford more.


How do the rest of you deal with that problem? Do you have that problem?
 
I think the real and steady income is from lots of no-frill but excellent knives at the lowest possible price. Just like Henry Ford decided to do. Make a lot of cars at affordable prices instead of a few high dollar cars.

For me, I'll strive towards HI-frill higher dollar until I think I've learned enough of the craft and then I intend to swing hard a bout to simple and affordable and go full steam ahead to make a couple bucks; at the same time being able to take that occassional special order.

RL
 
Dang! Kit beat me to it! Jethro promised me first chanch at that dream motor home. Probably because Kit had the cash. you can do that when you make those high dollar knives and get paid the big bucks; pay real cash. Nick got into making for the fast weomen, fast cars, and big bucks. If you are going to be full time making, you should succeed if you can make them faster than I can. I have plenty of work, but I am naturally slow at making. Are you charging enough for your work? I haven't been for my hunters, but I recently raised my prices. It has'nt slowed the orders any, either. I get to retire in a few years from my day job, so making speed won't be a big factor. You young fellas have a BIG decision to make concerning full time making if you are giving up a good job and are not shop ready. One big plus, the business is sure out there!
 
I have a problem when it comes time to make simple inexpensive knives.
Click to expand...

Uh-Oh... You're one of the good guys! You are definately a craftsman, and this kind of extra attention is what will build your name and bring repeat customers. Giving more than what your customers expect is the best business strategy there is.

And you do make some fine knives!... Frankly I think you're a bit modest, but that's okay. Keep it up, and try to give us more pics, okay? We all dig knives around here. :D
 
We can get paid!!!
Tess and I figured it out one night after a looooong ride back from a show. I think it worked out to about $2.00 an hour after taking everything possible into account. Thank goodness we raise our own food.
:rolleyes:
 
John Fitch said at the Moran Hammer-In that he has to make $45/hr on every knife that leaves his shop.

Just reporting what I heard....

I'm sure that includes expenses....but Fitch is speedy at making bowies...I think he said he's down to 7 hrs....(?)...a knife, which makes sense since he was selling them at $300-$400 each.

He did say, though, that he was considering getting into the higher dollar stuff....said that's where the real money is. (contrary to what's been posted here)....

Again, just reporting what I heard....not treating it as fact....
 
You must log in or register to reply here.
Back
Top