This blog post is by guest blogger, Abby Holt. Abby has always been crafty, impressing her classmates and teachers with the best school project posters, creating her own Halloween costumes, and using her calligraphy skills to make some extra cash in college. She has a knack for seeing something and being able to replicate it, plus she always enjoys a challenge. Fast forward to the present and Abby is still crafty as ever and putting her craftability to good use.
If you’re an artist or craftsperson, you rely on craft shows to make money. But if you’re not careful, expenses like inventory tracking and display materials can eat into your profits. You don’t need a lot of money to set up the perfect craft show display, you just need these tools courtesy of T.U.F.F. Momma.
Accounting Doesn’t Have to be a Headache (Really!)
As SmartAsset explains, the economics of craft fairs can be pretty daunting, but it all begins with smart inventory and money management. Begin with some careful budgeting of your supplies, fair fees, and so forth, and sort out what you can afford to pay for your display. An app can go a long way toward keeping you on track, both at home and on the road. It’ll help when tax time comes along, as well as ensure your events are profitable along the way.
Tracking your inventory can be an absolute nightmare if it’s not handled properly. If you sell small items, if something is missing you’re left wondering if it was shoplifted or if it was a bookkeeping error on your part.
Keep inventory simple by assigning each item a unique number. Then you can track the item in a simple spreadsheet. Depending on how computer-savvy you are, you can purchase inventory templates or create your own for free.
You might also be wondering how much inventory you should take to each sale. Cutting for Business explains that you want to bring enough stock to have a full, attractive booth. But you don’t have to bring everything, especially if you are attending multiple sales.
Tracking your sales is crucial for accurate tax reporting, but you may also want to consider creating a business structure that offers tax advantages. Registering as an LLC allows you to take advantage of pass-through taxation. You can start an LLC today by working with a formation service.
Your Display Will Make or Break Your Sales
Customers are more likely to approach your booth if it’s appealing and well-organized. Keep your products at eye level and off the floor if possible. Avoid displays where customers have to reach over or move products to look at other products. Also, avoid anything where your wares are displayed up high. Customers can’t get a good look at the item, and there’s always the temptation to reach too far for fragile items.
You likely have limited space in your booth. Keep in mind that a large purse or backpack could jostle your products. There should be enough elbow room for people to browse. That may mean not displaying everything at once. You can store extra stock underneath tables and bring it out throughout the sale, as things sell.
Make the most of your space by going vertical. Room dividers and pegboards make great craft show displays. These items can also serve double duty and be used in your home when you don’t have shows.
Lastly, your booth should have a unique, cohesive look to it. Post Up Stand suggests picking one or two colors or patterns for your tables, shelves, and other display areas that reflect your brand. You don’t have to go out and buy all-new display features. Tables you already own can be covered with inexpensive tablecloths or fabric. Also, ask around for old tables that people may be getting rid of. Scratches and dents can be covered up cloth or painted over.
Make Payment a Breeze with a Mobile Internet Device
Most customers pay with credit or debit cards these days, so it’d be foolish to run a “cash only” sale. Being able to pay with a card depends on having a reliable, fast internet connection. Customers are used to quick checkouts in stores and may be impatient if you have a slow signal. Having your own portable hotspot puts you in control. You won’t be at the mercy of weak signals or an overloaded WiFi network.
Be Ready for Success
After all the prep work and setting up your displays, don’t forget to have fun! When you’re excited about your product, it shows. Customers will be more likely to stop and chat with you and hopefully take home a purchase. With the right tools, your next craft show can be a smashing success!
Visit T.U.F.F. Momma for fine gourmet salts and salt racks.