Reply by hObOmOnk

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Posted on My First Craft show

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1381 posts in 4641 days

#1 posted 03-07-2010 06:00 PM

I barely remember my first 200 craft shows. :)
Now we only do those shows that generate a minimum of $1,000 per day in sales.

Over the last few years, I have quadrupled my retail pricing to meet my business goals.
Consequently, my cost of materials is done to about 10% to 20% of retail price.
Example: If I sell something at retail for $100 that cost me $20 for materials, I just made $80 marginal profit.
If you take the usual advice given here and simply double your direct costs and sell the same thing for $40, you just made $20 marginal profit. If my higher prices result in me selling half as many items as you, I will still make twice as much profit as you. I can even afford to sell my stuff wholesale at half the retail price and still make a good profit.

Where it’s at: Big shows, juried shows, high dollar venues and marketing-marketing-marketing.

Two important rules of craft sales.
1. You can’t compete with WalMart.
2. WalMart can’t compete with you.

If you insist on comparing what you do to what the WalMartians (cheap shoppers) expect, you will never succeed. Take the advice you get from enthusiasts site like this with a grain of salt. Most respondents form opinions without ever trying. Success comes from trying and from not letting an occasional failure to get in your way.

  • Raise your quality.
  • Raise your prices.
  • Choose the best sales venues.

Did I mention marketing-marketing-marketing.

-- 温故知新

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