The real costs of doing an event

 Something I've learned from being a vendor for the last few years, is it is OK to be picky. The old saying "time is money" is not wrong. When you choose an event, you need to not only think about the money you will make that day, but you also need to think about other factors such as:

- Time spent setting up, selling, breaking down everything

- Gas spent getting there

- Supplies bought for event

- Any customized/special products created just for that event

- Fees

For example, if you pay $50 for a space, spend $20 buying decorative items that fit the theme of the event, spend $40 making additional products to be sold at the event, and spend money on gas and food at the event, you need to calculate all those costs when determining a profit. A lot of people get excited and consider it all profit once you make money past the $50 fee, but that is not so. You would need to make well over $100 just to break even in this scenario. 

I also would argue you need to consider how much time and effort has been spent on this event. How much do you feel your time is worth? If you spend 2 hours setting up, 6 hours working the event, and 1 hour breaking everything down, you've just spent 9 hours of your time. Do you have an assistant helping you? Factor in their time as well. Also, did you make items specifically for this event? How much time did it take to prepare? Packing, creating signs, making new products, etc. should all factor into your time, too. Your time is valuable. You could be spending your time with friends or family or maybe just relaxing. You need to earn money for taking your time away from other activities.

In the end, you want to determine if each event is worth your time. The first events, you can consider learning experiences. You are learning about your customers and the most efficient way to setup for the event while making your space look inviting for customers. You can also determine if you enjoy doing that type of event or if it is not worth your time. Sometimes it is a great opportunity to pass out business cards and promote your website if you are not getting sales at that time. However, if you have very few customers and no one seems interested in taking your business cards, this is not likely an event you should return to.

I've also talked to people that will say, the fee is cheap, so why not? This can be true if you have not vended at any events for a while or you actually have the luxury of a lot of free time. But I daresay just because an event is only $20 doesn't mean it's worth doing. If there are no customers, that was a waste of time setting up and just sitting there hoping for a sale. If you have the free time, there is no harm in trying it once just to see if you will get customers, but don't keep making that mistake over and over again if you have no sales at this event. Don't use a $20 fee as an excuse to waste your time and money.

Basically, you need to decide your worth. You may also determine other factors are important in your decision, such as location or event theme. This is YOUR business and it's great to be in control of it.