Photo via Pexels
If you paint or refurbish used high-end furniture and you’d like to explore new sales avenues, you might be curious about registering for a booth at local vendor or craft shows. To learn more about selling antique furniture, check out these tips from Home Votel that show you how to effectively sell your inventory at craft shows, from registering for LLC status to marketing your furniture to determining your price points.
Form an LLC for Tax Purposes
Before you sign up for space at any craft or vendor shows, it’s important to establish a system for tracking sales records and organizing your financial documents so that you’ll be prepared for tax season. For convenience, consider registering your company as an LLC. You’ll enjoy the perks of limited liability, and you’ll likely save money when filing your taxes.
Keep in mind that every state has its own rules for LLC registration, so check out the regulations for structuring as an LLC. If you don’t have the time to file on your own and you don’t want to hire a lawyer for help, consider working with an online formation service instead.
Pricing refurbished furniture can be tricky. MoneyPantry notes that in order to set fair prices, you’ll need to consider the original price of the item, the cost of materials that you used to upgrade it, and how many hours of labor went into refurbishing or painting it. You should also consider the average customer’s budget at the craft show you’ll attend. To accommodate customers with tighter budgets, consider bringing smaller, more affordable items as well as larger items.
Create Eye-Catching Displays
When you’re selling furniture at a craft show, you won’t have a showroom like you would at a retail store. Therefore, you’ll have to get creative when it comes to product displays. Consider using cute, homemade signage to indicate what you’re selling, sprucing up your display with other decor like flowers, and stacking products to maximize your space usage – for instance, you could place lamps, jewelry boxes, and other merchandise on top of a desk.
In addition to advertising your presence at upcoming craft shows on social media or in your email newsletter, you can also design marketing materials to entice customers who stop by your booth. For instance, you may want to create signs with “Before” and “After” photos of the furniture that you’ve refurbished. This demonstrates the value of your services.
Also, be sure to have a business card handy to have as takeaways and to hand out to shoppers. It’s easy to produce personalized, free business cards when you use customizable pre-made templates online – simply add your own images, text, and color schemes. Business cards are an effective way to offer customers and clients something tangible to remember you by.
Many customers don’t carry cash while shopping today, so make sure to have a card reader at your booth. Remember, customers who are buying more expensive items might only be putting down a deposit when they buy something from your booth, so keep a digital or paper document noting which customers have signed up for payment plans. Platforms like Clover make it very easy for customers to make payments for your goods.
Managing inventory can be a difficult task for furniture retailers, especially if you sell used items. To move your inventory more efficiently at craft shows, keep seasonality in mind – for instance, when winter is approaching, people will be looking for holiday decor and indoor furniture rather than outdoor lounge chairs or dining sets. Furthermore, you can use inventory management software to track sales, determine which items are in highest demand, and procure these items for future shows.
Today, lots of customers would prefer to buy affordable antique furniture to save money and live sustainably. But in order to maximize your sales at craft and vendor shows, you need a defined strategy. With these tips, you’ll be ready to form an LLC, design attractive product displays, and easily process payments at your booth.