Whether you're selling online or selling at a show, it's always necessary to do so in a way that saves and earns you money rather than costing you more. Check out this month's article on some tips for saving cash.
Have you listed your items online? Check out other FNO Marketplace sellers' shops for inspiration, and remember, it's free to list your products with FNO!
If there are any particular topics you'd like to see covered here, or if you'd like to contribute an article to the FNO newsletters - drop us a line!
FNO Newsletter Editor
Money: Makin' it and Savin' it
by Anton Cheranev of Profitable Marketing
10 Ways To Sell Your Festival Products Faster
1. Give people a deadline to order. This will create an urgency so they don't put off buying.
2. Offer people a money back guarantee. The longer the guarantee the more effective it will be.
3. Offer a free on-site repair service for products you sell.
4. Publish testimonials on your ad copy. They will give your business credibility and you'll gain peoples trust. It's important to include the persons full name and location with the testimonial.
5. Give people free bonuses when they order your product or service. The free bonuses could be books, jewelry, reports, newsletters, etc.
6. Allow people to make money reselling the product or service. Tell people they can join your affiliate program, if they order. You could pay them per sale, per click, per referral, etc.
7. Offer free 24 hour help with all products you sell. Allow customers to ask you questions by e-mail, by toll free phone, by free fax, etc.
8. Provide free shipping with all orders.
9. Give away a free sample of your product.
10. Offer a buy one get one free deal. People will feel they are getting more for their money and order quicker.
How to Save Money When Traveling
Expenses at craft shows can quickly reduce profits. Here are some things you can do to help cut costs.
1. Ask for exhibitor discounts when making lodging reservations.
2. Keep receipts for all expenses during your trip.
3. Purchase beverages and snacks before leaving.
4. Keep snacks and drinks in a cooler for trip.
5. Do not purchase drinks and snacks from vending machines.
6. Be wary of long-distance charges, they can quickly add up.
7. Do not purchase movies or other extras at hotel.
8. Ask exhibitors for advice on low--priced dining in the area.
9. If available, use hotel shuttle services to and from the show to cut down on gas and parking fees.
5 Ways to Save Money on Supplies
1. Shop Around: Always comparison-shop for supplies. Prices can vary greatly from vendor to vendor. Once you find a low-cost supplier, don't stop there! Over time, prices do change. It's a good idea to keep an eye out for another distributor.
2. Buy at Wholesale Cost: Many suppliers offer discounts to qualified buyers. Qualifications differ, but usually a Retail Tax ID number will suffice. Call your local courthouse to find out whom to contact to obtain a retail tax permit in your area. (If you are selling crafts, you should already have one.) Once you have your tax identification, ask individual suppliers if they offer wholesale discounts and how to qualify.
3. Buy in Quantity: Often, buying supplies in bulk can save money. When comparison-shopping for materials, ask each vendor if quantity discounts apply and if so, what the percentages off will be.
4. Use Recycled Materials: Be creative with your raw materials! You may be able to save quite a bit by using recycled wood, textiles, plastic, metal and anything else you may use. Of course all of your supplies cannot be obtained through recycled materials, but you might be surprised at where you can cut costs if you give it some thought.
5. Shop at Discount Stores: Many large chains offer comparable prices on certain craft supplies. If you intend to resell the finished product that you make and have a Tax ID number, you can avoid paying sales tax. Ask the store manager for details on tax exemption status.
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