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Fairs and festivals

13th July 2017

Fairs and festivals – managing your business on the move

A growing number of businesses are selling goods on the move. It’s not new to businesses like art and antique dealers, who head off to fairs around the country on a regular basis, but for some new craft businesses, or for those in catering or network marketing, it makes sense to have an organised approach to this sales channel.

Pop-ups, concession stalls, fairs and festivals are all great ways to reach a new audience and increase your sales. If you’re a small business with no fixed retail premises, it can be one of the most useful channels you have.

There are things to consider, however, to ensure that you get the most from these opportunities and that you account for everything correctly:

Fees – you will have to book your space or pitch ahead of time. Some fairs are incredibly competitive and you may have to put yourself into a ballot, or be prepared to apply several months ahead. You’ll need to pay a fee in advance, and you should check the organiser’s terms and conditions to ensure that you’re complying with all their requirements, and you’re aware of any extra costs, such as supplying power to your site, or taking a commission on your sales.

Stock – you need to know how much stock to take. Whether you’re selling products or feeding people, you need an idea of what volume of visitors to expect so that you bring enough with you. If you need to store stock – in a fridge for example – during the day, you’ll need to organise that too.

Staff – will you need to hire additional staff for the day? Take their costs into consideration, and make sure they know what they’re doing, so they are able to help you sell as much as possible. Agree rates of pay and method of payment in advance.

Payment systems – how will you take payment? Is there wifi so that you can take card payments, or are you just accepting cash? How will you keep track of what you’ve sold, and what sort of paperwork trail do you need? It’s useful to know this is not just from a general accounting point of view, but because it helps you to see whether the event was financially successful for you.

Talk to us today about how to get the best approach to this type of sales channel, and how to make sure you have all your financial needs covered.

 

 

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