How Much Inventory Should I Take for a Profitable Jewelry Craft Show?
For a profitable jewelry craft show, how much inventory should I take?
This was my quest as I am going to a craft show which is in a upscale Knitting store. I’ll get a table 4 ft by 3 ft. So there is not a whole lot of room but it is in a good neighbor hood. I have paid $60 as booth fee.
Now what should be my expectation and how should I prepare my myself and my inventory? I researched various sites in the web and read quite a few books. All say- it depends!
Duh! That does not help much. dakota bandung
Finally, I sort of got some kind of a formula from an expert and I thank this website so much for that , which I want to share with you.
The rule of thumb about expectation is: If you have spent $x then you should expect to sell at least $ 5x. It should be 5 to 10 times your booth fee. That means in my case I should expect to sell $300- $600 worth of jewelry. This figure I got from several experts who have done shows and various books.
As an average, in my case, I’ll target at $450. Now, how much inventory shall I take to sell this amount of jewelry.
The formula I get is – 3 to 4 times what you want to sell. That means, in my case some where from $1200- $2500 . To be in the safe side I might take $3000 worth of inventory.
Now my next question is – What jewelry shall I take?
It is just before Mother’s Day, so I am going to take $1000 worth of earrings or something or things that are around $20 price range – book marks are also good and about 50 pairs of earrings.
I’ll take bracelets that are around $30 – $35 price range – 20 of them
I’ll take about 10 pieces that are $50 and above. I’ll bring a couple of pieces $100 + range, really exquisite and upload them in my etsy store before going. So that people can take time to think before buying.
What are your plans? If you are a jewelry artist like me, venturing craft shows I’d like to hear from you.