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How much
have you been charged to set up a 6’ table and sell your goods and wares at any
given event? If I threw out the figures
of $75 - $2,500 in “Vendor Fees” to participate, would that be an accurate
estimate? How much are you willing to pay? What is the value to you? What is
too much? Should you be permitted to request a refund if you are dissatisfied
with your sales outcome or what you would consider to be a miniscule amount of
foot traffic?
Before
you layout one dime for the Vendor Fee, YOU need to do your homework. Has this
particular Promoter or Host put on events before – if so where? What was the
outcome of their prior events? Is this the inaugural event of many to come (then
negotiate your fees if they are $75 and above, otherwise, don’t insult your
Promoter/Host)? Are you in a network or in contact with other Vendors that have
had interactions with this event or Promoter/Host that could provide general
feedback to you to help you make an informed decision? Is this
event even ideal for your product or services? Do you have any product or
service that is in theme with the event? Is there a refund policy and what are
the stipulations?
Have you done the
event participation investment math?
Fees + Gas + Inventory + Time + Making People
Aware of Your Business – Unmade Sales = Net
There are
many factors involved in hanging your shingle out at an event. Most important of them all is that you are wearing
your biggest grin and have done the following:
·
Event and Self Promotion! If you don’t tell anyone where you are going to be, why should anyone
come (it’s not just the Promoter’s/Host’s responsibility to tell all of YOUR
Facebook friends and followers (social media, personal circle of influence and
cell phone contacts). This is unless of course you are ashamed of what you are
offering and you don’t want anyone to purchase from you. Or are you just
selfish and you don’t want anyone else to make sales either or heck, for that
matter – come to the event? You can’t
complain about the foot traffic you didn’t help create!
·
Did you plan for a Helper? The worse thing in the world is an unattended table or a cranky Vendor
because they haven’t had a potty or food break. You should be a Tag Team. One
person should remain with the table and the other person should be networking
in the event’s open area, offering samples and encouraging individuals to come
over to your table. Don’t wait for them…go get ‘em.
·
What does your display say about your product or service? You may need to seek the help of a professional Table Scape
Designer (let me know, I personally know of two wonderful individuals).
·
Make it worth it to be there, regardless if you make a dime! This is your one and only time to be in front of these
particular people and Vendors…network, network, network! Collect business cards
and samples. Communicate and converse. Networking is your true payout – the dollars
can always be made, making those long term connections can help you make long
term dollars and grow the word about your business without paying extra for
marketing and advertising.
Finally,
the following may not necessarily be your direct concern but things to consider
that your fees help cover (note paragraph #2 about insulting your Promoter/Host):
Time/expertise, space/location deposit/rental, marketing, flyers, promotion, planning,
coordinating, decorations, sound system, security/cleaning deposit, table/table
cloth and chair rentals, workers, stagers, entertainment, food, beverage, cleaning
and miscellaneous incidentals…just to name a few.
When all
is said and done, believe it or not, even the Promoter/Host would like to make
a profit just as much as you would. So what is a reasonable amount to pay in
Vendor Fees to participate in an event? Based on doing your homework, what amount
is it worth to you to participate in that particular event, that would not be
insulting to the Promoter/Host? At the end of the day, everybody’s gotta eat
and keep their lights turned on…
Discover
a different networking activity that you didn’t know was possible. Start at “Networking From The Waist – Up!”
with us each month. We will connect you to the people you should have in your
circle of influence.
Finally,
connect with me today to determine how BCC –Small Business Management Services
can assist your Entrepreneurial and Small Business endeavors by allowing us to
be your personal Business Concierge, Helping You to Upstart & Manage Your
Endeavors.
written by: CL Reed
(find me at):
FIVERR: fiverr.com/clreed
Twitter: twitter.com/aSuiteCollab
Facebook: facebook.com/cl.reed.5
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Providing
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Entrepreneur’s & Small Business' Concierge – Helping You Upstart & Grow
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