Finding a supplier that isn't going to cost you an arm and a leg, and still have good quality might be a challenge at first. But, in my experience, it is always better to pay just a little bit more for good quality, than it is to buy bargain basement materials and have your customers be disappointed when the overall quality of your craft is poor.
Once you combine your experience with the supplies and the experience of making the craft, you will soon realize where you might be able to save a few pennies on supplies, and where you should just pay for good quality.
You'll need to have several excellent sources for supplies that are readily available in order to be a successful crafter. Initial research, then time and experience will be necessary for you to find your best suppliers in terms of cost, quality and promptness of delivery. Here are a few tips on getting the best supplies for the lowest prices:
Comparison shop with several vendors, and even after using one or two, keep an eye out for better deals. With a little bit of extra effort, you might be able to find the materials you want on sale, or at a lower price at a different vendor.
Ask other craftspeople for recommendations. Word of mouth is one of the best ways to find deals. If you belong to a craft group or if you know other people who craft, talk to them about where they are getting their supplies. They may give you a great lead on fantastic prices.
Always buy wholesale-all you need is your resale certificate to qualify. Wholesale eliminates the middle man in many cases. You should be able to save a great deal of money on craft supplies if you have a craft supplies wholesaler in your area.
Buy in quantity for greater discounts, maybe even by partnering with another crafter. It's the same is if you go to the grocery store ? usually, the more you buy, the better overall deal you are getting. It may cost a little more out of pocket, but your cost per piece goes down significantly.
Use recycled materials and recycle what you can from your past inventory. You never know when scraps of other supplies will make great pieces elsewhere on your craft. This is a great way to save money on your supply cost.
Keep track of your supply inventory so you can order in advance at better prices for busier seasons rather than waiting until the last minute. If you wait until the last minute you usually don't have time to find a deal ? you just need the supplies fast! This could end up costing you a lot of money.
Do your best to get 30-day terms, so you can pay suppliers after you've sold some product. You will probably have to pay with cash or credit the first few times that you go into a store, but after they recognize your patronage and you qualify with their accounting department, you can get terms that allow you to pay 30 days after you purchase the supplies.
Supply costs are one of the biggest costs when you are setting up your craft show business. As mentioned earlier, most crafts rely on materials of some sort or another. In order to ensure a tidy profit at the end of the day, you need to control the material expense so your prices stay competitive and you sell more product!
I have 3 criteria that I use for deciding what my sale price is going to be:
1.) ALL costs ? I think this could be the number one mistake for crafters who are not making a steady profit ? especially on a craft that is selling well. Your costs are far more than just the cost of the materials and a little bit of labor. You need to think of the costs associate with: legal and accounting fees, transportation to get materials, travel to shows, craft show registration, labor costs ? everything! You need to keep an accurate account of the costs associated with running your craft show business, so you can adjust your price accordingly.
2.) At least double ? In most cases I would say people can get away with doubling their costs to come up with a sale price. For example, if a craft costs you $5 to produce, then you should be selling it for a minimum of $10 (or maybe $9.99). In many cases, less expensive crafts can be sold for more than double, because it is still a reasonable price for a craft. For more costly crafts to make, you might consider going just under double the cost ? in order to stay in line with competitors.
3.) What's the value? ? I ask myself this question every time I put a new craft out on the market. How much would someone pay for this craft? In order to answer that question, I do a little bit of research. I walk around craft shows to see what other crafters might be charging for something that is similar to what I am providing. If people are purchasing a product in droves, there is a good chance the price is right ? or maybe even a little low. Finding the value of your crafts is an important element of pricing them properly. You don't want to be too high that you can't make a sale versus a competitor, but you don't want to be too low that you sell out after the first day, and your profit margin is low.
Pricing your crafts is one of the most critical aspects of being profitable at craft shows. If you do not have the right price, it affects everything from salability to profitability, and ultimately whether or not you can run a successful craft show business!
Natalie Goyette has sinced written about articles on various topics from All Rights Reserved Copyright, Crafts and Crafts. Natalie Goyette shows you how to make your craft show business profitable in her best selling ebook: Craft Show Success Secrets. Visit her site: . Natalie Goyette's top article generates over 4400 views. to your Favourites.