How to Budget for a Craft Fair

800px-Novelties_village
Via Wikimedia Commons by Leonardo D. Santos CC BY-SA 3.0

Some fairs are simply out of reach for a crafterpreneur.

There are so many costs with a craft fair that people overlook and its important to tally it up first to see what your actual out of pocket actually is.

Below are some of the major items that crafterpreneurs spend on, and hopefully it will help serve as a guide of what to spend on and why.

Rental and booth display

Manila FAME gives you the option of either renting just the space or the space and a prebuilt booth at different prices, so it depends on your budget and what you think is better for your brand.

Inventory

Some online sellers carry the bare minimum of inventory.

A physical store changes all of that.

You’ll need enough to make people browse and then decide to buy and that means more than one or two of each item.

Spending on inventory is a gamble since you aren’t sure what the market may want. It can also be costly. (Take jewelry for example. Small expensive pieces quickly add up).

Display materials

If you are selling jewelry, you’ll need jewelry boxes to display them in. If you are selling ice cream, you’ll need a freezer. If you are selling shoes, you’ll need a shoe racks and stands.

You get the picture.

Maritess Pineda, founder of MaARTE and ArteFino, stated  “The products may be good, but if it is not properly displayed, then it does not matter.” Product dislay is crucial so don’t overlook it.

Marketing materials

You need a calling card, banners, posters and flyers.

Decide on how you want to display your goods and how the marketing materials should support them or ask the organizers where you can display posters or tarpaulins.

Packing materials

You’ll need to have paper bags, scissors, tape, string, packing materials and pen and paper. Make sure that the amount that you bring is directly correlated to you stock. If you mostly sell small items, then you will mostly need small paper bags. If you sell breakables, bring lots of packing tape and bubble wrap.

Staffing

With fairs often running for twelve hours and set up and tidying up several hours before and after that, you are going to need to take it in shifts or you will run out of steam.

If you staff it, then you are going to need to consider minimum wage for the staff, which can range from minimum wage of Php 512 to a few thousand depending on who you hire and what your overtime is.

Logistics

How are you going to move all of that?

If you’ve got a brand booth, it may be bulky and heavy. Then you have all the packing, marketing and miscellaneous items. You might have to hire additional transportation just to move it, so factor that in as well.

Advertise

If you’ve got a social media account now’s the time to use it.

Pin it, post it, Instagram it and see if you can leverage all those followers to spread them word and buy a few of your things. Promoting it isn’t very difficult these days.

So, spend a little money to make a little money and you might just end up making a lot.

These are really the definitive items that crafterpreneurs spend on for a craft fair. Rental spaces can be really pricey and can be the most expensive item spent on, but this depends on which craft fair you are joining. Inventory can also be a lot with staffing, marketing, display, and packing materials quickly adding to the bill.

Make sure that you write things down and come prepared so that your craft fair can fulfill the expectations that you have of it.

Go craft and then go out and see what a physical location would add to your experience. Often a craft fair will end up being worth the money.