Everyone knows the age old nursery rhyme right? Little Miss Muffet, Sat on a Tuffet, eating her curds and whey….. So Im probably a little off my rocker but this nursery rhyme came to mind with this post so bare with me! The connection will happen at some point!
As Ethan and I welcome new vendors into the store we always try to see where they want their business to go, what their goals are and how they see themselves getting there. Some vendors know exactly what they want, while others are just starting out and really haven’t thought about it yet. So we wanted to share some tips and tricks for our vendors or for those of you who are interested in becoming vendors.
Tip 1: Be your Biggest Fan! Nobody wants your business to succeed more than you, right? The easiest way to do that is to brag about your items on Instagram, Facebook, Pinterest or Etsy. Now the social media scene is a little scary at first but the more exposure your items receive the more your business will skyrocket. Ethan and I personally love Facebook Marketplace as it is so easy to use. I even prefer it over Craigslist. There is just something about being able to know who you are talking to.
Tip 2: Keep realistic goals. There have been countless times as owners that we have heard our vendors get disappointed that they didn’t make more money from their booth. Ethan taught me this when we first opened our store and it has become a staple rule to stand by ever since, that if you are making three times your booth rent, it is an excellent place to be. That way, one-third goes to rent, one-third goes to replacing the items you sold, and the last third is to pay yourself. So if you have a small booth with a rent of $40, making $120 at the end of the month is something to be excited about!
Tip 3: Know what you’re selling. With as talented as West Michigan is, we have to know the market. Make sure you are doing your homework on what kinds of items are selling and what the going rate for those things are. There is nothing worse than pouring your heart into a piece only to find out that you won’t get the money back out of it. Also be willing to change up your prices a bit to fit the fluctuating market. A booth that doesn’t stay with the times (or even ahead), is a booth that doesn’t sell.
Tip 4: Keep it Fresh! Ethan and I like calling it, Revamping. Revamping means to totally change up the entire booth. Move EVERYTHING! Such a pain sometimes but is so beneficial for your booth and sales. You could keep all the items the same but move them around and it will still make a difference. It brings a freshness to your booth that is palpable.
So Miss Muffet gets to sit on her tuffet, stuffing her face, which granted is what I do every night. Lets be honest, it happens a lot through out the day but I’m pregnant. Enough said. So I’m not sure if you could feel the underlining theme but here it is. Booths are hard work. For many, they are a full time job and more often than not, more work than punching that time clock for 40 hours a week. Take pride in your business and own it! Put in that hard work and it will definitely pay off! No sitting on your tuffet and expecting a large check at the end of the month. It just doesn’t happen. So if you are a veteran vendor or a newbie, keep working hard!