Furniture Refinishing Pricing Formula: How to Calculate What You Should Charge
Pricing refinished furniture can feel overwhelming, especially when you are just guessing. Simply guessing what your costs are, what you are worth and what the market permits will not result in a financially secure and successful business.
A piece sells too fast, and you know you undercharged. A piece sits for weeks, and you second-guess your pricing capabilities.
Here’s the good news: you can remove the guesswork from pricing with a furniture refinishing pricing formula.
This simple formula I use ensures that every project you complete will cover your costs, pay you for your time, and leave a profit.
Step 1 – Know Your True Costs
Before you can price anything, list every cost your project incurred. This is trickier than you realise, and most refinishers will forget to include at least one cost.
- Furniture cost: Include the purchase price, as well as the fuel and your time for collection.
- Materials: Paint, stain, topcoat, brushes, sandpaper, filler, tape, cleaning cloths, gloves—every small item adds up.
- Labour: Track your hours from pick up, prep and sanding to painting and finishing. Don’t forget to include your time for styling, photos and making your advertisements. Charge yourself for every step.
- Overhead: A portion of workspace rent (if required), electricity, tool wear, listing fees, and insurance if applicable.
If you only count your paint and sandpaper, you’re basically paying to refinish furniture.
Step 2 – Determine Your Profit Margin
Many business guides suggest a 30% profit margin. Still, I find that the “right” margin depends on the complexity of the piece and your market.
- Lower margins (15–25%) work for simple, fast pieces where you aim to sell quickly.
- Higher margins (30–50%+) make sense for speciality finishes, intricate repairs, or unique design pieces. Basically, anything where your special skill sets shine.
Your margin is what turns your work from covering costs and your hours into a profitable business. Think of it as separate from your hourly rate—it’s not your personal income. It’s your business’s income.
That extra 15–50% is what funds tool replacements, workshop improvements, the marketing that keeps projects coming through the door and courses to upskill yourself.
Without adding a margin, your business is standing still. With it, you’re building a business that can grow.
Tip: Start with a baseline margin and adjust as your experience and local market allow.
Step 3 – Set Your Labour Rate
There are two practical and simple ways to help you calculate your labour rate:
Annual Income Method:
- Decide how much you want to earn in a year.
- Divide by the number of hours you can realistically dedicate to refinishing.
Local Trade Benchmarking:
- Compare to rates for local skilled trades like painters, decorators, or furniture restorers.
- If you handle more difficult issues, such as veneer repairs or applying speciality finishes, your rate should reflect that skill level.
Tip: Check local painter or restorer rates on job boards, trade association websites, or salary research sites like Salary Expert.
Step 4 – Apply the Furniture Refinishing Pricing Formula
The core formula is:
Price = (Furniture + Materials + Labour + Overhead) × (1 + Profit Margin)
This ensures every hour and every euro you spend is covered, plus your business will start to create a profit.
Step 5 – Combine Market Awareness with the Formula
Once you’ve run the numbers, hold them up against what’s actually happening in your local market. Market research shows you what similar pieces are really selling for in your area, not just what people list them at. (See Why Local Pricing is the Secret to Selling Your Refinished Furniture Faster [coming soon] for a deeper dive into that process.)
With both tools in hand, here’s what to do:
- Calculate your full project price using the formula.
- Compare that figure to the range of local sales you’ve tracked.
- If your formula price comes out higher than local demand supports, you can either:
- Reduce the labour hours you put into similar projects in the future,
- Aim for premium buyers, such as commission clients or international sales,
- Or simply pass on future pieces that will never be profitable in your market.
Striking a balance between calculating costs and market awareness is what makes your pricing both confident and competitive.
Step 6 – Real-World Pricing Examples
Example 1 – Low Complexity: Simple Coffee Table
- Furniture: €40
- Materials: €30
- Labour: 4 hrs @ €20/hr = €80
- Overhead: €12
- Subtotal: €162
Use a lower margin (25%) for fast flips:
Final Price: €202.50 → Round to €200–205
Example 2 – High Complexity: Detailed Dresser with Veneer Repair
- Furniture: €80
- Materials: €60 (primer, stain, veneer patch, topcoat)
- Labour: 12 hrs @ €25/hr = €300
- Overhead: €30
- Subtotal: €470
Use a higher margin (35%) for skilled labour:
Final Price: €634.50 → Round to €630–640
Step 7 – Track, Learn, Adjust
What gets tracked gets measured. By keeping a simple spreadsheet, you will learn to spot successful and less successful projects:
- Item type and style
- Hours spent
- All costs and chosen margin
- Final price
- How quickly it sold
Over time, this builds your pricing instinct and helps you identify which projects are worth your time and which to leave behind.
Final Thoughts
Using a furniture refinishing pricing formula takes you from guessing to earning confidently.
When you combine:
- Local market research
- Full cost and profit calculation
…you can price every piece so it sells in your market and pays you fairly for your skill.
Your turn: Do you already track your pricing and hours? Or will this formula change how you approach your next project? Share your experience—I’d love to hear how you’re improving your pricing game.
Further Reading in This Series
- How to Price Refinished Furniture for Profit
- Why Local Pricing is the Secret to Selling Your Refinished Furniture Faster
- How to Start Offering Commission Furniture Work
- Seasonal & Trend-Based Pricing Tips for Refinished Furniture
