I've heard back from the the National Stationery Show coordinators and have my booth. Yay! Originally, I was given an 8 x 10 booth in the middle of the row of 8 x 10 booths but, when I was speaking with Joe Blank my show Sales Rep, he realized that I had requested a corner booth. Thank goodness that he did because I just assumed there weren't any available and would have been stuck in a long row of small booths.
In any case, the show is eight months away - go here to read more about it - but I know how these things can creep up on you. One minute you're thinking it is eight months away and suddenly you're standing in the middle of the gi-normous Jacob Javits Center thinking "holy crap, how'd I get here, and what do I do now?"
Because I plan to attend the show in years to come - planning for success - I am going to keep a running blog series about the show, about its costs, about preparations for it, about the pros and cons, problems and solutions, suppliers, etc., that I encounter along the way. This way I'll be able to read back in a year from now and know what worked and what didn't.
So, to start with, let's talk about space rental.
There are a number of different space configurations for the show that you can choose from. These include: 8 x 6, 8 x 10, 10 x 10, and various combinations thereof.
I measured out each of these spaces in my kitchen and tried to visualize whether my booth would feel fresh and inviting or crowded within the dimensions of each. I quickly decided that 8 x 6 would make ME feel claustrophobic so that one was out.
I was down to either an 8 x 10 space at $2,620.00 or a 10 x 10 space at $3,275.00.
In truth, I wanted to go with the 10 x 10, but there was another option that I thought would be even better, and that was to opt for a corner booth for an additional $475.00. I figured that the open corner would mean that people walking from two different sides would see my booth rather than relying on just those who were walking down my row.
So, instead of the 10 x 10 middle booth, I chose an 8 x 10 corner booth. Here are my costs so far:
8 x 10 space $2,620.00
Corner location $ 475.00
Space total $3,095.00
Happily, I was able to reserve the space with a $500.00 deposit, put on my credit card. By September 20, I will have to pay the remainder of the 30% deposit and will have to have paid the entire space rental by January 4, 2017. Here is how I plan to pay for the space rental:
September 1, 2016 $ 500.00
September 20, 2016 $ 428.50 (remainder of the 30%)
October 20, 2016 $ 722.16 (1/3 of remaining 70%)
November 20, 2016 $ 722.17 (1/3 of remaining 70%)
December 20, 2016 $ 722.17 (1/3 of remaining 70%)
By spreading out the payments over the next several months, I won't be hit with a whopping big payment all at once, especially while I am in the throes of such a major business expansion as I currently am. By paying it all before the January 2017 deadline, I'll also be able to put this entire amount on my 2016 taxes, thereby benefiting from a nice business tax credit this year.
How Many Cards Do I Have to Sell to Cover the Cost of Space Rental?
On the other hand, taking into consideration just the straight retail pricing of my average card at $4.50, then I have to sell 688 cards at retail (or double that at wholesale) just to cover the space rental. I know, I'll actually have to sell more when taking into account the costs of producing my cards, but still. That's a lot of cards.
Reserving the space was a huge step. The next biggest step is designing my booth. I'll keep you updated on how that goes here.
Read the first post in this series here.
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