Showing your products at a wholesale market
Wholesale markets can be an amazing financial boost to your business....if you are prepared.
One of the biggest fears of small businesses is to decide to "go show at market" because of the financial risk. There are booth costs, carpeting and electrical costs to consider; plus the cost to produce all the goods you will show and your travel expenses.
I Speak Boutique suggests that you take the time to do the math. Look at the costs and determine how many sales you need to pay for all the costs. If your costs can be covered by one days worth of sales, then it is a no-brainer and you should show at market. If the costs will not be covered until the second day, you are at risk but it is a low risk level and you should go ahead and show at market. Anything more than 2 days and you are at a high risk because it could be a financial disaster if a day or two of market has slow traffic.
Once you decide to show at market, you need to take advantage of any free marketing that is available to you. Be sure you are in the buyers printed and online directories under every category that applies to your business. Utilize social media and even emails to alert your current buyers of your location at market.
Planning is key to a successful wholesale market. Plan your booth layout, plan your merchandise, plan who will work your booth. ISB understands the challenges that come with the planning and execution of a successful market show; contact us so we can help you too!