The Lawful Way of Making Money at a Craft Fair
As a person of significant talent, you probably made creative items and then gave them as gifts or sold them to family and friends. But trust me, the time will come for you to really need to make solid income from your craft projects. You’ll have to start joining craft shows; but before you can do so, you’ll have to get a tax ID number.
You may be initially see the tax ID and gag at the thought of needless record keeping and lost income. But truthfully, a tax ID number is the best way to get you started in the world of craft retail. Once you have a tax ID number, in fact, you can even decide become a wholesaler – what this means is that you can unload your crafts to a store or person who will then resell them for their own income.
To get a tax ID and be on your way to start selling at local craft shows, go to your state’s Department of Revenue Website and find the necessary literature and application forms. I strongly recommended that you read the documents properly to ensure that obtaining a tax ID is right for you. Once your application is complete and the tax ID is confirmed, you can go online to look for some shows and fairs where you can sell your crafts.
Be in touch the local chamber of commerce in your area, or simply use an Internet search engine in to find out about upcoming events that include craft shows. Once you have a good list and got in touch with all the relevant people to apply for a spot, you need to spend a fair amount of effort to get organized. Here are some of my tips that may be helpful:
*Be sure that you bring enough stock for your craft items. A large group of people think that “running out of stock” for an item is okay and is is a measure of good business. The fact, however, is that if you sell out, it tells you that you probably could have sold more. You should always go home with a few items still on your person.
*Go to the show prepared with price signs; one for yourself and one for your display. You may lose a significant amount of potential customers who don’t like asking you how much every single item is. So post it, but don’t make it crowd the display.
*While we’re on the topic of displays, make sure you think about how you’ll present your booth in advance. A table with a tablecloth works well, but with just a few tasteful additions, you can make “well” turn into “unique.” Add color, or buy a shelf. Above all, always take charge and come up with new ways to display your crafts.