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Crafts & Hobbies Information |
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Production and Pricing of Craft Show Items
This is where you can really make or break your craft showcareer. Being able to produce quality crafts as efficiently andaffordably as possible is the key to making a tidy profit fromcraft shows. How Production Evolves How you handle production of your craft show items will evolveover time. Initially you may produce all your craft items alone.This will likely be the most cost effective way to start yourcraft show creations. As your business grows, you may decide itis 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 productioncycle for maximum efficiency. You'll learn as you go how longit takes to produce your craft show items, how long to allow fordrying, setting or baking, what quantity of supplies you needfor a certain amount of inventory and how much inventory you'llneed for a one-day craft show. Basically, you are going to getbetter and smarter about how to build your craft show items - soyou can maximize the profit! Always have some form of quality control if you're workingalone, such as a friend or family member checking your craftsfor sturdiness, appearance, etc. If you make jewelry, havesomeone else try on a necklace to make sure the clasp works, itdoesn't fall apart while putting it on and that you are pleasedwith the appearance. If you have put a frame around a smallpainting, ensure the frame's sturdiness, so your craft customerisn't disappointed when it falls apart. Think about how you willtransport your products during the production process, makingthem sturdy enough to travel or finding strong packing materialsthrough your suppliers. Over the years, your products will evolve as you makemodifications to existing designs and add new products. Withfeedback from customers and keeping abreast of current trends,as well as developing new skills and interests, you'll probablyadd new products and remove slower-moving ones. As soon as yousee a steady decline in sales, consider dropping theproduct-don't get attached, this is business. You can always useslower products as bonuses, gift items or for raffle drawings ordonations. Pricing The crucial question about pricing is: How do I price my craftshow 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 lessprofit. If your prices are too high, your sales will drop. Theright price is one of the most significant factors incontributing to your success or failure-and one of the mostdifficult factors to decide upon. There are several schools of thought on how to arrive at thebest price for your work. Again, time and experience will beyour best guides. It is easy enough to raise or lower yourprice with each craft show you attend and eventually find thebest fit. You may even find yourself changing prices atdifferent craft shows as you learn the shopping patterns of yourcustomers. If someone seems interested then walks away, askthem why they didn't buy and if they say price, ask what theywould be willing to pay. If you get the same informationrepeated several times, it's an indication of what customers arewilling to pay-at least at that craft show! Although you need to test your prices, don't make drastic priceadjustments in the same weekend, as customers may complain. Makesmaller adjustments in different towns based on craft showresults and customer feedback. Sometimes the difference inimproving your sales can be as small as $1.00, such as loweringa $12.00 item to $10.99. And sometimes selling fewer items athigher prices can be more profitable in the long run. Take time to consider your price carefully. Consider cost ofsupplies and labor, craft show fees, transportation and otherexpenses involved. The efficiency of your production will alsohave an impact on how much profit you can make from your craftshow items, and ultimately both will determine your success onthe craft show circuit! Natalie Goyette shows you how to make your craft show
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