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Posted on July 3, 2013 in Build Your Brand by Katie
The hardest thing that you need to decide when beginning to think about doing a craft show is: will it be profitable? Craft show profitability is one of the things that most people don’t consider. They consider the cost of the table or space, but miss the overall costs of the show. Today I’m going to give you some help in deciding if you craft show will be profitable for you and how to avoid a loss.
Craft show profitability depends mostly on your expenses. For most crafters, they fail to consider the overall expenses associated with a craft show. They look instead solely to the cost of table or space rental. Here’s some expenses you have to consider:
It is very important that you estimate your total. Once you have your total, you know what figure you have to CLEAR in sales before you begin to turn a profit. This will allow you to better understand if those kinds of sales are possible and if you want to give up your day, time, weekend to do it.
In this example I would have to CLEAR $130 in sales before I began to make any money.
Here’s the hard part. If you’ve sold at craft shows before, this will be easy for you. If you have not, then this will be more of an “educated guess.” At an average show that I do, I sell $200 in merchandise. This being said, if my craft show fees (as shown in the above example) are $130, by using the formula above, I will see a profit of $70. Now here’s the hard part. Let’s say that example was for a show that ran Friday, Saturday, & Sunday. I could estimate that by the time I lose (3 days of non-production and face-to-face sales) I can make more money by investing the time into 5 new quality pieces for my online store in those three days. However, I could also decide that the small profit margin is worth it to help spread my name and get my product in front of people. Again, only you can make these kinds of decisions … but I do ask that you think about them!