Copyright 2006 Natalie Goyette
So, what does it take to start profiting from selling your crafts at craft shows? Following are the first four steps I would take to getting your small business off the ground:
1.) Choose the right craft – This part is easier said than done. If you have to make a craft for $10 each, and you can only sell it for $12 at a craft show, you probably aren’t going to be happy with the overall profit at the end of the day. It is important for you to choose a craft that has a low start up cost and a higher sale price – this is basic business 101. Something that only costs you $3 to make and you can sell for $10 is going to give your bottom line a huge boost.
2.) Set your price right – This is just as crucial as choosing the right craft. In order to set your price right, you need to know EXACTLY how much the craft costs you to make. This includes all of the costs associated with making and selling the craft: transportation to and from craft shows, driving to get the supplies, the supply costs and even a little bit of a labor cost, too. Once you have your costs fixed, then you can set the retail price, and provide yourself a decent return on the investment. You probably don’t need to make a fortune of your crafts, but it would be nice to see a healthy profit at the end of the day.
3.) Lower supply costs – Do whatever you can to keep the supply costs as low as possible. This is where you are going to incur the most expense when making your crafts. If you think about it, if you can drop the cost of making your craft by $1, just by making smarter supply choices, each time you sell a craft, that dollar now goes into your pocket.
4.) Choose your craft shows wisely – If you have to pay $500 for a weekend craft show, keep in mind you need to include that in the overall ‘cost’ of your craft. If only 1,000 people come through the doors of that craft show, you likely aren’t going to make enough money to recover the cost of the show. That might be an extreme example, however it illustrates the point. Take some time to choose the event that is going to get you the most bang for your buck. It will likely take some time to weed out the craft shows that aren’t working for you, but before long you will only be going to the shows where you know there is a strong demand for your craft.
Those are just four things to think about to start profiting from craft shows. The right craft at the right price at the right craft show – with low supply costs – is going to help you bring home a heftier pay day at the end of the weekend. Good luck!
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Natalie Goyette shows you how to make your craft show business profitable in her best selling ebook: Craft Show Success Secrets. Visit her site:
www.craftshowsuccess.com
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