However, I want you to…. Whatever your highest goal, plan to bring 2 — 3 times that amount in inventory. This keeps your shop looking great and drawing in shoppers. In the end, bring what you can afford to bring. I know that creating an inventory is an investment of both time and supplies. The whole process is about learning who your customer is, where she is, and how you can appeal to her.
In my own business, I use an Excel spreadsheet to track my inventory and its value. That way, I know exactly how many more products I need to make before each show. Simply click the button below to purchase your own editable spreadsheet. Consider your budget too. It all adds up! So set yourself a budget, keep a record of your spending and stick to it.
You also need to leave plenty of time and money to consider all the other details you need at a fair, such as price labels, banners and your display, so your items are well presented and you have the best chance of selling more on the day. Just as different craft fairs are right for different sellers, different products sell better at different craft fairs.
A lot of knowing which products sell best where is down to experience, so keep a record of what you have sold at which fair, and then use that as a reference next time you have a stall at the same market or in the same area. Visit the craft fair beforehand if you can to see what the customers are like, how busy the fair is, which stalls seem to be the most popular and what the other stallholders are selling. The organiser should also have figures about their demographic, and you can also follow them on their social media channels — a look through their posts to see which have gained the most attention should give you an idea about the kind of customers they attract and which products they are most drawn to.
As well as your own past experience, there are other factors that can help you determine what kind of products you should bring. The average age and income bracket of the people attending the craft fair will help to determine what range of stock you should be making.
Making more of your smaller, more inexpensive items may pay off at smaller events where people are unlikely to be carrying a lot of cash but may impulse buy with what they have. When deciding what products to bring to a craft fair, think about what people will be looking for from your product range at this time of year. Do you make any products that could be tailored or displayed to target the season and any special occasions coming up at the time of your fair?
Make extra if you do. But be careful, will these products still be desirable at a different time of year? So it may be wiser to make your display look Christmassy and stick to creating products that will sell well all year round. Is the fair one of two days long, or just a few hours? For example, if you estimate that you will have on average three sales an hour then you will need to have at the very least 18 items for a six-hour fair and you need to be able to replace each of these items at least once on the table, so that gives you 36 items.
If you are selling small items, then you may need lots more pieces laid out in order to fill your table display. Hopefully a few calculations about the space available and the hours selling will give you a rough estimate of the minimum quantity of stock required for your craft event!
Finally understand why your hard work isn't resulting in more sales. Join over 18, others and sign up for the Made Urban newsletter. Your email address will not be published. Notify me of followup comments via e-mail. You can also subscribe without commenting. This leftover money is what will cover additional overhead costs or go into your pockets. The following are several formulas you can use to help you better estimate. Add those costs together to get your total Event Cost.
How much profit would you like to make? ROI Use the calculations to determine if an event is a fit for you and if it will give you a return on investment.
Finally understand why your hard work isn't resulting in more sales Join over 18, others and sign up for the Made Urban newsletter. Please check your email to confirm your subscription. There was an error submitting your subscription.
Please try again. Email Address. Previous Post. Next Post. Submit a Comment Cancel reply Your email address will not be published. Gary Capps. I live in the one of the most beautiful places in the world on the Sunshine Coast in Australia with my wife and our 2 dogs, Poppy and Mia.
Since I have helped over 15, handmade business owners to grow their business with our software and free tools designed for todays entrepreneurial artisan. Latest posts by Gary Capps see all. Leave a Reply Click here to cancel reply.
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