Tuesday, 24 February 2015

Entry Fees- To Charge or Not to Charge?...that is the question.

So it's that time of year where I fill my diary with dates and times for my events. It's my favourite time, it's where I'm at my most productive and hopeful that the year will be a really good one. I also take this time to research events already taking place around the North East. I do this for a number of reasons; I make sure that I don't book dates in that clash with others nearby, to check what venues are being used and I also check to see who's charging entry for their event.

I've considered charging entry to my events a couple of times and whilst organising my diary for the next couple of months it's something that I've once again thought about.

So what would be the 'Pros' to charging entry fees?

Events cost money to run. The craft fair business can be a really fun way of making money but unless you're selling 50 tables at a time then you're just earning basic money. Don't get me wrong its profitable but it's basic.
Entry fees would help towards the overall cost of the event and would therefore be more profitable.

What do I consider to be the 'Cons' to charging?

I worry that charging entry fees at a small event will put people off. Whilst working the craft fair circuit for a few years now (at other peoples events selling my crochet goodies) I've worked some events that have flopped due to entry fees. Even if the fee has been a mere pound. I personally wouldn't like to take the risk. I think it's all about knowing the customer. When I create a new event I have an audience in mind that I want to cater towards but I think keeping it free opens it up to everyone. This is also great for a venue with good footfall from the street.

It's something that I may just have to try out sometime. Although I really don't believe in charging for entry for a craft fair it may be worth trying for a social/financial experiment.

Of course I'll keep you all posted but for now, What do you think?

No comments:

Post a Comment