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Do you have the gift to produce something creative and functional out of just anything? Do you possess a one-of-a-kind trash to cash talent? Are you looking for a new source of income or simply for an extra means?
Do you have the
gift to produce something creative and functional out of just anything? Do you
possess a one-of-a-kind trash to cash talent? Are you looking for a new source
of income or simply for an extra means? Fairs and Festivals are at your service
to address the common questions asked regarding the business side of craft show
listings.
Setting Prices for Arts and Crafts
Prices are based
on your business and financial goals, and costs and expenses. If you are able
to hit the right price for your goods, youll make your customers satisfied,
and your profits increasing. The perfect word to describe the price is
reasonable not cheap but reasonable. Being reasonable you are able to cover
all your incurred costs and expenses plus profit. Your profit must be scaled in
such a way that your product is not too expensive to drive away buyers nor too
cheap to give a low quality mindset and scare them away as well. Selling price
should be able to keep the business rolling till the Return on Investment (ROI)
is met within the identified period of time, or else youll find yourself out
of business in no time or you are sweating yourself out for a simple thank you.
Licenses, Permits and Taxes Required in a Craft Show
Craft show
requirements depend on the country and state that you are located and/or where
the show will be held. Different areas necessitate varying documents to get the
show started. Basically, you can apply for all of these from your local
government offices or online if they have established their website. Licenses
and taxes are most of the time necessary to participate in a craft show. Permits
on the other hand depend on the location and on what you are selling edible
items for example surely requires permit to check if it is safe to eat. For further
questions and clarifications you can contact directly the show promoter for
assistance.
Receipt Creation and Issuance
Receipt is the
proof of purchase and sales. From the receipt, profits gained and taxes to be
paid can be drawn and calculated. It is important to highlight the product
description, quantity, price, tax (percentage of the price), store name and
sometimes the customers name and signature for verification. It is significant
to produce 2 or more copies of each receipt issued customers copy, sellers
copy and an extra copy for whatever purposes it may serve.
Payment Methods
Offering several
payment methods equates catering a greater market size. These methods include
cash, credit card, check, PayPal merchant account, online/ecommerce store (for
online selling), and Intuits GoPayment merchant service (for mobile). You can
tag along your laptop with you so that you can transact online payments. Your
computer is the card terminal, which works with PayPal. Major credit cards are
accepted, and the money gets into your account immediately. When it comes to
checks, you have to be very cautious about it. Get the important details about
the buyer (name, address, contact number, e-mail address, and photocopy of his
valid I.D. if possible). Keep in mind that bouncing checks will definitely give
you a massive headache.