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As the holiday season approaches, being organized and knowing the best ways to sell handmade jewelry can make the difference between a profitable holiday and one which suffers great losses in both time and money. Here are some super tips on how to make money by selling jewelry at those craft fairs.
True Cost Of Making Jewelry
Pricing your jewelry can really determine how well your jewelry sells. Everyone says you need to price your jewelry right — but how do you do this? On how to make money with crafts, we show you exactly how to figure out how much you spend making your jewelry so you can figure out how much each piece costs. If you price your jewelry lower than this amount you will lose money with each piece. Knowing the profit margin, you will know how many pieces you need to sell to pay for your booth fee. This will enable you to make educated decisions.
Pricing Your Jewelry
Once you know the true cost of making your jewelry (by doing the math recommended above), you know the minimal sell price for your jewelry to make a profit. But how much is your jewelry actually worth? You can test sell it on EBay, which can be a second minimal price, but remember that isn’t the same as a fair setting. EBay has lots more jewelry competition, no physical touching of jewelry, and people hope for a bargain there. The best choice is: finding comparable jewelry at other fairs if possible. If that isn’t possible, look elsewhere online to see how much stores are asking. Most likely somewhere between the EBay price and online store price is the price that will sell best. If you sell too cheaply, people won’t value it (and sometimes won’t buy because it is priced too cheap!); if too expensive, it simply won’t sell.
Do NOT Include Tax in Your Shown Price
I’ve found that not having tax included in your price helps you sell more. If you have tax included, your items will appear more expensive than other booths. Having items priced such that when adding tax will give you a rounded number can be convenient but be sure to display that lower price.
Have Something Low Priced At Your Booth
By having something that is easily affordable, you will attract more customers. Whether it is an inexpensive pin or pair of earrings, these help you sell many more items. Find something that is easy to make, affordable and has a nice profit if possible. Often these pieces will pay for your booth. That means more profit for you.
Booth Location Matters
If your festival is first-come-first served, arrive early. Choose a location that is heavily traffic-ed such as by the entrance, the food or major intersections in the fair layout. If those are not options, if there are workshops, locations near those can be advantageous if the workshops are popular.
Great Displays
Having your products easy to see and nicely displayed will enable people to see what you are offering easily. Having a bowl or box to search through for bargain items is often sought after as well. To create an inexpensive display: use plywood, velvet and hooks. They look nice and last well. Often, you will get better prices with a nicer display.
Extras That Help Profitability
Those inexpensive items (recommended above) often get added to the more expensive purchases. Also you can offer gift wrap for a fee which can make an extra $1-5. Be sure to ask each customer if they are interested in such deals. Or offer free gift wrap with the purchase of 2 or more items.
Other Tips
Those were just a few of the tips that have helped me and my friends sell jewelry at shows and festivals. There are many more secrets to learning how to sell jewelry well at fairs. Blueprints for profitable shows, techniques for avoiding shoplifting, and how to take advantage of the most profitable times at a fair are just a few topics explored in a great ebook we discovered online. Many of these tips can help now so buying the book electronically is recommended. Guide To Your Profitable Jewelry Booth. Secrets Of Selling Handcrafted Jewelry Like Crazy At Shows, Fairs, And Festivals.
Have a great show!
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