Sunday, April 21, 2013

Done Waiting (for now)

On March 17th I showed you my status summary for show applications...
I posted an update on April 8th...
Here is where I stand on April 21st... I have results from every application that has been sent!

By the Numbers:
  • 14 applications sent
  • 1 more applications to send (due 4/30)
  • 4 rejections :(  and they came all in a row!
  • 1 wait lists 
  • 9 Acceptances ... I am still deciding about my participation in 2
  • 0 in progress

  • I have spent $300 on jury fees.  I was "invited" to 3 of the shows so my jury fee was waived). 
  •  I am committed to $2495 in booth fees across 9 shows.  
So, before I generate any income in 2013 I have already spent $2795!  Luckily some of the later shows will let me do a payment plan so I can pay them after I have made some money at the early shows.

"Show Math":
There is a cost associated with the materials, labor, and kiln time (electricity) for every piece.  So when I make a sale, I have to take that cost out before I can begin applying the income to pay for my booth.  That income also has to cover travel expenses.  My cost of production is usually 30-50% of the selling price.  Let's call it 40% for now.

Sample Show (yes this is a real show, near my house so there is no hotel cost)

  • Costs (jury+show+mileage+food) = $573
  • I need to sell $955 to start making a profit.  60% of sales AFTER $955 are profit.  
  • The average price of my pieces is $85.  I need to sell roughly 11 items BEFORE I CAN BEGIN TO MAKE A PROFIT!
  • If I sell $2000 worth of items then I have made a profit of $626.  

At least I know where I will be this summer!  To see the shows that I will definitely be at check out my site or "Like" Heartfire Studios on Facebook.

Oh, and based on the math, I'M CRAZY!

1 comment:

  1. You could've just asked me, I would've told you... Takes one to know one <3 xoxo