3 Steps to Improving Your Craft Show Profit :: Business Articles and Info

Friday, 21st November 2008

home about authors news books xml feed sitemap privacy contact us

There are 6 users online

make home page

Books and Reading
Business Education
Business Industry
Business Services and Assistants
Business Technology
Corporate Companies
Current Events
E-Commerce and Internet
Economics
Employment and Opportunities
Finances
International Business
Investing
Management Editorials
Partnerships and Affiliate Programs
Promotion and Marketing
Seminars and Salesmanship
Small/Home Business
Statistics
Tax Related
The Stock Market
Tips and Strategies
Tools for Business

Our Newsletter

Other Resources

For other sources of business news, tips, and information, visit our resources page

Submit an Article

Would you like to have your article posted?

More info on business issues

3 Steps to Improving Your Craft Show Profit
Added: 10/17/2006 Type: Summary Viewed: 133 time(s) [ Not Rated Yet ]

How would you rate this article: Bad Good Go »

Printer Friendly Version

3 Steps to Improving Your Craft Show Profit

Here are those three things broken down even further for you:

1.) Simple products – OK, a pet rock might be a little too simple (however, it might come back), but living room furniture goes a little bit beyond the standard craft show item. When you are thinking about simple crafts it doesn't have to be simpleminded. Here is a good rule of thumb – it should be something that someone COULD make at home, but might be just out of the reach of most people who come to a craft show.

What this does is ensure a couple of things: first, it probably isn't that complicated to make.

Second, it probably won't cost you a fortune to produce because the components are relatively few, and inexpensive.

2.) Make them quickly – Let's go back to the living room furniture example for a moment. How long would it take someone to do that? Let's just say a nice rocking chair… a few weeks? You need to work for a year in order to make enough chairs to satisfy the demand!

The key to profitability is to make something that takes very little of your (or a helpers) time to make. This reduces any potential labor costs and it also ensures that you can produce enough of the craft to meet the need you will have at any of your craft shows.

3.) A great markup – Figuring out the price of a craft is going to be a tricky one. It might even differ between craft shows. When everything is accounted for, you should try to double or even triple the dollar value that it costs you to make the product. So, for example, if you produce something that costs $1 to make, you should be selling it for a minimum of $2 or $3 dollars.

This tip goes hand in hand with the others. If your craft is simple, and you can produce a quality product in very little time, chances are your cost for each item is going to be relatively low. The lower you reduce the cost to make a quality craft, the HIGHER your profit will be when you sell.

For anyone looking to profit from craft shows, this is a start. At first, it might look like it limits the choices you have for profits. That solely depends on you and the profit margin that you are expecting. It shouldn't prevent you from making a craft that you enjoy, but it should give you a better understanding of what you might need to do in order to make your craft show business as profitable as possible.

Article Pages: 1

Article Comments

Add Comment |

View All (0)

There are currently no comments for this article.

Advanced Search


More Resources
Become a Day Trader Early Warning Services ecommerce shopping cart Find the Perfect Job Affiliate With Us