Need help with pricing

[AmandaRob]

Need help with pricing

We make and sell high end, limited edition mechanical puzzles directly to adult collectors around the world. I am struggling with pricing and could use some advice.

• We are growing quickly: by revenue +356% last year, on track for +192% this year
• We are a small shop with ~10 employees
• We manufacture most of the product
• Production is highly skilled work; difficult and slow to scale
• We don't have solid numbers on manufacturing cost; still working on those systems
• We are nowhere near able to fulfill demand
• Our work sells out within minutes of being posted on the site
• My current approach with pricing is to cover overhead and add a bit of profit to fund growth

I have been slowly raising prices but have not yet hit any resistance. I have no idea what elasticity for our product is. I'm worried that if I raise them too high it will damage goodwill and sales will fall off a cliff.

Our product is here: www.cubicdissection.com

I have no idea where to go from here and I'd appreciate any insight. Thank you very much in advance!

submitted by /u/cubic-dissection
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