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So you want to go pro #12: You Wanna a Piece of Me ?

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Blog entry by odie posted 2290 days ago 1108 reads 0 times favorited 3 comments Add to Favorites Watch
« Part 11: Ah Gypsies in the Air ? Part 12 of So you want to go pro series Part 13: "The Price is Right" ? »

I eluded to this earlier. Everyone wants to get rich off of your hard work. You get the raw materials. You create something from the raw materials. A tent and display is bought and set up every time you wish to sell your product. So where does 30% go every time, and right off the top. This 30% is a figure that was arrived at by 5 years of averaging. And more times than not this figure is higher. This amount comes off of your gross sales amount and not your profit.

We have always figured that a good show for us is a $500.00 a day average. A three day show would be a $1500.00 in gross sales. That is a figure we would be happy with. It doesn’t happen that way often enough, but it does happen. If the yearly average worked out to this $500.00 per day average we would be very happy. We have come very close, but never hit it as yet. This a lot more information than I wanted to give out, but what the hell. That 30% is $150.00 per day of our goal if we hit it.

This 30% is not the cost of wood, or display, or tent, or gas, but everyone else’s god given right to have part of you. I wouldn’t make such a big deal out of this if they didn’t raise their fees without notice, but your customer screams bloody murder if you hold firm on your prices. This 30% is the combination of promoters and credit card company fees. If you sell wholesale, you can get rid of this 30% right off of the top. Do you see where this is going. One of you thought “wholesale” was a dirty word.

Credit card companies want 5% on average. Many charge less in the beginning, but add on other fees at billing time. So, if you buy a $100.00 box from me 5% of the price goes to someone who had nothing to do with the producing of it. That is of course if you use a credit card. Another dirty little secret is if you have a rewards card, guess who gets billed for your reward? Please do not use a rewards card at an arts and crafts show. These fees are necessary evils I’m afraid. Remember I mentioned “tourists” and what a large part of my sales they are. They carry credit cards for emergences. Their unexpected purchase in my booth just became an emergency to them. Is this a great country or what?

We could have gone into this much deeper, but this is not a book and I’m not making any money on it. I do have another bowl to turn.

-- Odie, Confucius say, "He who laughs at one's self is BUTT of joke". http://woodstermangotwood.blogspot.com/ (my funny blog)



3 comments so far

View Karson's profile

Karson

34798 posts in 2907 days


#1 posted 2290 days ago

Great Ideas Odie.

Now back to shavings.

-- I've been blessed with a father who liked to tinker in wood, and a wife who lets me tinker in wood. Southern Delaware karson_morrison@bigfoot.com †

View Matt (Upper Cut)'s profile

Matt (Upper Cut)

264 posts in 2320 days


#2 posted 2290 days ago

You forgot the other 30% that is taken, again by everyone else that wants a piece of you. Federal Taxes.

Yup, that’s right. To some thethe tax system as a “redistribution system” to take your hard earned scratch. While you’re working hard in your shop (or at the arts & crafts show), someone else is sitting on their butt waiting for your money to be redistributed to them by the gov’t .

If someone walked up to you on the street and demanded 30% of all the money you had in your wallet (or your bank accounts), that would be robbery. But people use the gov’t to do this to you every day.

-Matt

So, your $1500 for three days is even smaller than you may think.

-- Matt Gradwohl, Upper Cut Woodworks, http://uppercutwoodworks.com/

View MsDebbieP's profile

MsDebbieP

18614 posts in 2667 days


#3 posted 2288 days ago

ouch :(
I’ll take cash with me next time I visit a craft show

-- ~ Debbie, Canada (https://www.facebook.com/DebbiePribeleENJOConsultant)

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