|
Producing
and Pricing Craft Show Items
by Natalie Goyette
This
is where you can really make or break your craft show career. Being
able to produce quality crafts as efficiently and affordably as
possible is the key to making a tidy profit from craft shows.
Producing Your Crafts
How you handle
production of your craft show items will evolve over time. Initially
you may produce all your craft items alone. This will likely be the
most cost effective way to start your craft show creations. As your
business grows, you may decide it is best to find employees who can
recreate your artistic flair - so you can build more products and
increase your overall revenue.
Time and
experience will help you streamline your production cycle for maximum
efficiency. You'll learn as you go how long it takes to produce your
craft show items, how long to allow for drying, setting or baking,
what quantity of supplies you need for a certain amount of inventory
and how much inventory you'll need for a one-day craft show.
Basically, you are going to get better and smarter about how to build
your craft show items - so you can maximize the profit!
Always have some
form of quality control if you're working alone, such as a friend or
family member checking your crafts for sturdiness, appearance, etc.
If you make jewelry, have someone else try on a necklace to make sure
the clasp works, it doesn't fall apart while putting it on and that
you are pleased with the appearance. If you have put a frame around a
small painting, ensure the frame's sturdiness, so your craft customer
isn't disappointed when it falls apart. Think about how you will
transport your products during the production process, making them
sturdy enough to travel or finding strong packing materials through
your suppliers.
Over the years,
your products will evolve as you make modifications to existing
designs and add new products. With feedback from customers and
keeping abreast of current trends, as well as developing new skills
and interests, you'll probably add new products and remove
slower-moving ones. As soon as you see a steady decline in sales,
consider dropping the product-don't get attached, this is business.
You can always use slower products as bonuses, gift items or for
raffle drawings or donations.
Pricing Your Crafts
The crucial
question about pricing is: How do I price my craft show products for
the best results-good sales and good profit? Can I have both? You may
fear that if your prices are too low, you could incur the wrath of
your competitors or make less profit. If your prices are too high,
your sales will drop. The right price is one of the most significant
factors in contributing to your success or failure-and one of the
most difficult factors to decide upon.
There are several
schools of thought on how to arrive at the best price for your work.
Again, time and experience will be your best guides. It is easy
enough to raise or lower your price with each craft show you attend
and eventually find the best fit. You may even find yourself changing
prices at different craft shows as you learn the shopping patterns of
your customers.
If someone seems
interested then walks away, ask them why they didn't buy and if they
say price, ask what they would be willing to pay. If you get the same
information repeated several times, it's an indication of what
customers are willing to pay-at least at that craft show!
Although you need
to test your prices, don't make drastic price adjustments in the same
weekend, as customers may complain. Make smaller adjustments in
different towns based on craft show results and customer feedback.
Sometimes the difference in improving your sales can be as small as
$1.00, such as lowering a $12.00 item to $10.99. And sometimes
selling fewer items at higher prices can be more profitable in the
long run.
Take time to
consider your price carefully. Consider cost of supplies and labor,
craft show fees, transportation and other expenses involved. The
efficiency of your production will also have an impact on how much
profit you can make from your craft show items, and ultimately both
will determine your success on the craft show circuit!
About
The Author
Natalie Goyette
shows you how to make your craft show business profitable in her best
selling ebook: Craft Show Success Secrets. Visit her site: http://www.craftshowsuccess.com.
Back to Crafts Index |
