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September 15, 2010

Comments

Woolly

Including wages for ourselves is one of the hardest things to do - how much do we pay ourselves per hour? I manage to factor in most things that cost money (food, accommodation, travel etc) but the intangibles, i.e. time, is a whole other thing. I don't want to know how much I earn per hour, as it's not likely to be much ;)

Come to think of it, I'm going to start keeping a work journal to see just how many hours I really do...

Thanks for the spreadsheet - it's really helpful!

Ian

Very sensible and useful.
You must think very seriously before excluding labour costs, even if at the minimum wage. And these costs include time for preparation, travel, set up and break down, as well as repacking and returning stock to the shelves, and then the accounting. If you sent a staff member, they would need paying, so why are you less valuable? Any profit comes after all these costs are taken into consideration.
The suggestion that building links with the customers is also worth checking. My experience is that 'normal trading' sales before and after the show drop off because customers prepare to go and meet you to save post costs and check out the goods. So, there is another cost which is often forgotten.

Now you know why people who do the sums concentrate their efforts on making their web site better known and more accessible, and stop paying £500 - £1,000 for a stall.

YarnAddict

Thank you for sharing that Jeni. we've been discussing whether or not it's worth doing shows a lot lately.

Nic

In London you need to pay the Congestion Charge to drive into the city centre. Kind of like a toll for just taking your car in.

Mary Lawrie

This is a great tool. I'm American, but I want to make sure I'm accounting for all these costs that I haven't thought of...

The VAT is taxes, right? What is a congestions charge?

I make my items myself, so this is also making me consider my pricing structure.

Thank you so much.

Jeni

yup, no matter what show you do it always costs around that...and then beers and wine etc...all adds up!

Nic

Very interesting... I wonder how many people failt to take into accoutn car parking, evening meals, etc?

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