Production and Pricing of Craft Show Items
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.
How Production Evolves
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!
good sales and good profit? Can I have both?
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.
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.