Among the most frequently asked questions we get each day, perhaps second only to “what are your minimum order quantities?” is the question of how much a product will cost. While I won’t be able to answer that question with any specificity, I will attempt to unpack the complexity of our costing process and describe the variables that factor into pricing a finished good. But before posing the question of cost, it’s important to note that any custom product development will be priced according to its specific formula and packaging design. Because this product doesn’t exist yet, it’s not feasible for us to predict a final price at the onset.
It must be said that Twincraft will never create the same formula for any two customers – ever, period! Being steadfast in this policy, we find that the most significant challenge to pricing a product is determining how much the formula will cost. Although there may be several similarities between one product and another, each of our programs will have its own unique fingerprint and be priced as such. The final formula will inform the downstream requirements for batching and filling, determining which equipment will be necessary. Evaluating whether certain equipment is a cost-effective choice for a given order volume must also be factored in. The inherent price of packaging materials, sustainable solutions, decoration, case-pack, as well as labor allocations and throughput, will all influence the final cost. It’s a careful choreography, each decision impacting the next, which requires clear and consistent communication across all development teams as we work to achieve our mutual goals.
Development strategy aside, our core value proposition is a cocktail of innovation, quality, on-time delivery, and an orientation toward long-term and meaningful partnerships that is woven into everything we do. As a rapidly growing company, we’re investing in our people, our community, and in our factories by paying living wages and providing comprehensive benefits to our employees, giving back to our community, and ensuring steady, sustainable growth for Twincraft and our brand partners.
Perhaps the most provocative thing we often say at Twincraft is that “we’re almost never the low-cost solution.” Many people hear this and wonder why we would ever say such a thing to a prospect or a customer. It’s a fair question, and we believe that the answer lies in our fundamental confidence that Twincraft’s true value exists not in low prices, but in a mixture of consistently honest and reliable communication, fast and agile service, and over 50 years worth of deep industry knowledge that distinguishes us from our competitors. In prioritizing the needs of our customers to create a meticulously crafted and quality product, our organization seeks to operate from a standard of excellence that we feel justifies a slightly higher price point. This philosophy is only sustainable because we’re fortunate to work with like-minded customers who are willing to invest in our partnership for the long haul.
So, how much will your product cost? Honestly, we don’t know yet, but we look forward to having a rich dialogue to understand what makes sense for you, and how Twincraft can provide the holistic solutions your business needs.
