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How many units of your product would you have to sell to make $1Million?

The thing that most artists and designers do not ask themselves is this ....

"Ok...I want to be a millionaire/wealthy from my art or (fill in the blank here for whatever it is you are selling) ..How many units of my product or service do I have to sell to make $1Million?How much do I have to invest in time and materials to be able to offer up for purchase $1Million worth of my products or services?How much will I have to pay to the IRS in taxes ...sales taxes and income taxes to actually collect $1Million in sales?How many months or years will it realistically take?Is it even a realistic goal when I factor in all those elements?"

I would have to sell 35,714.3 $28 hats to reach $1Million ...and that doesn't include materials and time and all the other stuff that goes into making and marketing and selling.It would take me 4 years of doing nothing but crocheting...24 hours a day to make those hats .Yup...no joke.

How many units of your product would you have to sell to make $1Million?How many hours of labor would it require?How much would you have to spend on materials to make them?

43 Responses

is that net, or gross?
47,619 pairs of earrings....and that's just grossing a million. Don't even want to think about how many I'd have to make to net a million. :-)

I guess I will have to go to my fallback plan of winning the lottery. lol
@AllegroArts. I'll use your product as a an example .I guess it would have to be net to reach the number of units to make $1Million.But when you really break it down it would be gross when you deduct all that other stuff.So net initially to calculate an actual sales figure? At gross I would have to make even more hats than that.

@limegreenmodern...lmao.Ain't that the truth?
My chances of winning a lottery are probably better.
90900 pair of earrings, the million is minus basic costs to make, and I could have that number made in 15 months, provided my supplies come in on a regular basis with no shipping delays.
I can't crochet for 4 years non-stop.Just not realistic.And if I had help that would cut into that final number drastically and I would have to double or triple actual units.It's a never ending rollercoaster of numbers.
@chicagolandia.....15 months in actual hours?
I just kind of assume that if I became hugely successful I would be charging a lot more, so figuring it out at my current prices doesn't really mean anything.

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