Free 173 Best Homemade Tools eBook:  
Remove advertisements
Results 1 to 6 of 6

Thread: Plans market update

  1. #1
    Jon
    Jon is online now Jon has agreed the Seller's Terms of Service
    Administrator Jon's Avatar
    Join Date
    Jan 2012
    Location
    Colorado, USA
    Posts
    12,831
    Thanks
    2,419
    Thanked 3,868 Times in 1,566 Posts

    Plans market update

    This is an update on our tool plans market, which has been running for over 2 years now. The market has grown nicely, paid out thousands of dollars to plans authors, and we've gathered good insights.

    Here's a rundown of what we've learned, and what steps we'll be taking to build the plans market further.


    HOW MUCH MONEY CAN YOU MAKE SELLING PLANS?
    Obviously it varies, but looking at our historical data, a single plans author can make over $100 in a good month, and over $250 in a great month. Not bad for a new marketplace, and this figure should grow with time. Fortunately, once the original plans are written, this income is largely passive - it requires very little additional work by the plans author.


    WHAT PLANS SELL BEST?
    Plans are essentially hit-or-miss. Even plans from the same author, of the same quality, with the same promotions, will have markedly different sales.

    Here are the five top-selling plans, in order of most popular first:

    Machine Tool Dial Making Fixture by rossbotics
    Rotary Phase Converter by nhengineer
    Tool Post Grinder by rossbotics
    Quick Change Tool Post by Paul Alciatore
    Knurling Calculator by PJs


    WHAT MAKES PLANS SELL?
    While we don't have lots of hard data to correlate certain activities with plans sales, some of the trends are worth mentioning:

    Community Presence: People are more likely to purchase plans from authors who regularly frequent the forum.

    Posting of Free Plans: People are more likely to purchase paid plans from authors who post some other plans for free.

    Posting of Tools Before Plans: People are more likely to purchase plans if a non-plans post for the tool has been made.

    Sharpening/Grinding Tools: People seem to like purchasing plans for sharpening/grinding tools.

    Difficult Tool Plans: People seem to like purchasing plans for more challenging tools.

    Active Tool Plans Discussion: If a tool plan discussion is active and posted in frequently, it seems to increase sales of that plan.


    HOW CAN WE IMPROVE?
    -We should have more people post what they built from plans. We've started a promotion to give away a free set of plans to people who post the tool that they built from plans.

    -Judging from internal search data, these terms most accompanied searches for "plans": belt sander, English wheel, power hammer, motorcycle lift, planishing hammer, press brake.

    -Free plans is a good idea, especially when they are used as freebies that promote paid plans.

    -It's a good idea to keep your plans discussion going with legitimate new posts. For example, look at the Rotary Phase Converter plans discussion. With 222 replies, it's #2 in all-time plans sales. This meshes with the current understanding of online reviews on shopping websites: having ANY reviews is better than having none, even if some of those reviews are negative.

    -Plans sellers who participate in the forum have higher sales; this makes perfect sense when you consider that trust is the biggest barrier to purchase.

    -We can send a monthly plans-only email. I prefer not to overload our newsletters with commercial content, but one plans-only mailing per month is perfectly reasonable.


    WHAT CAN PLANS AUTHORS DO TO INCREASE SALES?
    -Use your signature to promote your plans.
    -Post daily on the forum as a regular person.
    -Offer free plans, or convert low-selling plans to free plans (let us know if you want to do this).
    -Prominently link up your free or non-sale tool post with your plans post.
    -Link to your plans sales thread on other forums or blogs on the net.


    To submit your tool plans for sale: How to submit your tool plans for sale.

  2. The Following User Says Thank You to Jon For This Useful Post:

    old_toolmaker (04-25-2018)

  3. #2
    old_toolmaker's Avatar
    Join Date
    Dec 2017
    Location
    Minnesota
    Posts
    164
    Thanks
    58
    Thanked 152 Times in 50 Posts

    old_toolmaker's Tools
    Hi Jon,

    Thank you for this "Plans Market Update"!
    I think this is great and gives me better insight into what and how to sell and is very helpful to me.
    I have multiple plans for sale and I think it also would be helpful to me if I knew each month which plans sold and how many. As it is, I don't have feedback on which of my plans is actively selling. Would something like this be possible?
    Dick

    Links to some of my plans:
    http://www.homemadetools.net/forum/o...965#post105972 OFF-SET TAILSTOCK CENTER PLANS
    http://www.homemadetools.net/forum/s...995#post112113 SMALL TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/l...994#post112111 LARGE TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/m...383#post110340 MINI-LATHE CARRIAGE LOCK PLANS
    http://www.homemadetools.net/forum/s...191#post106483 SMALL QC TOOL POST PLANS

  4. #3
    Jon
    Jon is online now Jon has agreed the Seller's Terms of Service
    Administrator Jon's Avatar
    Join Date
    Jan 2012
    Location
    Colorado, USA
    Posts
    12,831
    Thanks
    2,419
    Thanked 3,868 Times in 1,566 Posts
    Good call, I can add details on sales numbers to your monthly PayPal payment, which you'll receive in 5 days on May 1st. I just had a quick look - your Small QCTP plans are about at even sales with your Offset Tailstock Center plans, with Mini Lathe Carriage Lock plans coming in last.

  5. #4
    old_toolmaker's Avatar
    Join Date
    Dec 2017
    Location
    Minnesota
    Posts
    164
    Thanks
    58
    Thanked 152 Times in 50 Posts

    old_toolmaker's Tools
    Hi Jon,

    Thank you!

    Where should I look to find the links to my plans. I want to edit my signature to include a link to the latest plan I have for sale.
    Dick

    Links to some of my plans:
    http://www.homemadetools.net/forum/o...965#post105972 OFF-SET TAILSTOCK CENTER PLANS
    http://www.homemadetools.net/forum/s...995#post112113 SMALL TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/l...994#post112111 LARGE TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/m...383#post110340 MINI-LATHE CARRIAGE LOCK PLANS
    http://www.homemadetools.net/forum/s...191#post106483 SMALL QC TOOL POST PLANS

  6. #5
    Jon
    Jon is online now Jon has agreed the Seller's Terms of Service
    Administrator Jon's Avatar
    Join Date
    Jan 2012
    Location
    Colorado, USA
    Posts
    12,831
    Thanks
    2,419
    Thanked 3,868 Times in 1,566 Posts
    You can find all direct plans links here: Listing of All Tool Plans for Sale

    And we now have two more of your plans (Small Tool Post Turret and Large Tool Post Turret) being worked on by our graphic artist.

  7. #6
    old_toolmaker's Avatar
    Join Date
    Dec 2017
    Location
    Minnesota
    Posts
    164
    Thanks
    58
    Thanked 152 Times in 50 Posts

    old_toolmaker's Tools
    Jon,

    Thank you!


    Post your reply!
    Join 33,912 of us and get our 173 Must Read Homemade Tools eBook free.



    173 Must Read Homemade Tools
    Dick

    Links to some of my plans:
    http://www.homemadetools.net/forum/o...965#post105972 OFF-SET TAILSTOCK CENTER PLANS
    http://www.homemadetools.net/forum/s...995#post112113 SMALL TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/l...994#post112111 LARGE TURRET TOOL POST PLANS
    http://www.homemadetools.net/forum/m...383#post110340 MINI-LATHE CARRIAGE LOCK PLANS
    http://www.homemadetools.net/forum/s...191#post106483 SMALL QC TOOL POST PLANS

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •