Is It Worth Selling Your Woodworking Projects At Craft Markets?

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Andy Bird Builds

Andy Bird Builds

Күн бұрын

Пікірлер: 220
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
For these events, my profit margin is 75% after all costs are accounted for, including materials and labor.
@SP-nx8qx
@SP-nx8qx Жыл бұрын
I do costing and pricing of products for a living, and I would say it's impossible to calculate your exact cost (and neither could I). Simple example: Say you buy a C&C, what is the cost of that machine per lantern? Well that depends on how many lanterns can that machine make before it dies, but you can't possibly know that number in advance. So we are all really just guesstimating. My advice to small businesses is to forget about the cost for a minute and never price your products based on guesstimated costs. Just look at other similar businesses and similar products, how much are they selling for? That's your price. And if it feels too low don't even make that product at all. The feel for your cost is something that only you can really have, from your experience running your business. How I would do it is on a monthly basis: Look back in a few typical months and up all your shop bills, all your labour costs (as if you were paying yourself and your wife a salary), your machine purchase costs (divided by a useful life, say 10 years for a table saw), and that is your monthly cost, and from there you can get to a daily operating cost. That way when you spend a day making lanterns you know roughly how much that cost you, plus the materials of course. But, like I said don't let that cost dictate your price. Your price is always what the market pays, the customer does not know or care about your costs. Good luck and happy new year!
@robertsmith3518
@robertsmith3518 Жыл бұрын
Good for You ! Way to go !
@LG-ro5le
@LG-ro5le Жыл бұрын
@@SP-nx8qxits CNC, it just means computer numerical controlled, saying C&C dosnt make sense
@SP-nx8qx
@SP-nx8qx Жыл бұрын
@@LG-ro5le true, thanks!
@fishhuntadventure
@fishhuntadventure 11 ай бұрын
I don’t really understand 400% markup. That’s AFTER you pay yourself a wage for making that inventory? And costing out your expenses? And factoring replacement raw materials? That’s a lot of margin there.
@dougveganparadisebuilder5808
@dougveganparadisebuilder5808 Жыл бұрын
I like the openness and honesty of Andy. Most will only show their successes and not talk about numbers.
@lazygardens
@lazygardens Жыл бұрын
I have friends who sell a lot at craft fairs. They ALWAYS have a stock of inexpensive items. One artist, whose originals were 4 and 5-digit pieces, always had posters, T-shirts and small prints as well. He called them "gas money";
@awlthatwoodcrafts8911
@awlthatwoodcrafts8911 Жыл бұрын
Nice information. Thanks for sharing. I agree with you about the credit cards. We were at a pop-up market near us for the first two Saturdays in December. I not only got the Square reader but I also set up accounts in CashApp, Venmo and Zelle. I then created a frame with the QR codes for those payment systems to make it easier for customer to pay. Just point their phone at the QR code and enter the amount. Bingedy-bong, done. We had zero issues with taking payments of any kind.
@shaynesabala
@shaynesabala Жыл бұрын
Thank you, new subscriber. I have a good job but got into wood working a couple of years ago. I have no plans to supplement my income but I truly enjoyed watching your video. Brutal honesty. That’s so rear now days. I wish you all success. Again, thanks for the video.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Glad to have you! Thanks for watching
@TheCNCDen
@TheCNCDen Жыл бұрын
One of the biggest issues for any small business, especially working from home, is a lack of interaction with others. I used to refer to networking events I attended as sanity events, a chance to mingle and chat with others, all of which have similar successes and failures, goals and obstacles in their businesses no matter how different the actual commercial activity is.
@cisco1dog
@cisco1dog Жыл бұрын
Thanks for sharing. Appreciate the honesty about selling your product and what works and doesn’t. Will be retiring to my woodworking and CNC, in a couple of weeks. Hope to make a few dollars a month to save for travel and other retirement stuff!
@mrscience1409
@mrscience1409 Жыл бұрын
It also does not include depreciation on equipment, opportunity cost of the investment, and cost of electricity and physical plant.
@VoeltnerWoodworking
@VoeltnerWoodworking Жыл бұрын
Watching this with my daughter and now she wants me to make a lantern. Those are some great products dude.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
That is awesome! Thanks man.
@makethepart
@makethepart Жыл бұрын
Great insight for this type of sales approach. I couldn't agree more about connecting with your customers and making an authentic connection. When selling personalized items YOU the maker are a huge part of the story for the final recipient. Thanks for sharing Andy!
@secretwoodproject
@secretwoodproject Жыл бұрын
I was setup at a show and I had items that complimented nicely with the vendor next to me so I went over and pointed out how together our items might sell quicker if we teamed up and we displayed the two items on each of our tables and sold out of mine and sold out of his and he couldn't believe I came over and suggested it. Good luck out there and be social with each other.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
I love this. Great work!
@secretwoodproject
@secretwoodproject Жыл бұрын
@@AndyBirdBuilds thanks.
@cuervojones4889
@cuervojones4889 Жыл бұрын
Thanks for telling us what did not work! That's so important and helpful!
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
You're welcome!
@aknorth1053
@aknorth1053 Жыл бұрын
Just went to some craft fairs this last season in Texas and it was not like I remember growing up. Most stalls had mass produced items very few in the sea of booties had orginal items actually made by the people selling
@awlthatwoodcrafts8911
@awlthatwoodcrafts8911 Жыл бұрын
This is what makes it hard for us "hand crafters" to compete with. Even Andy's items are "mass produced" on his CNC or laser. He didn't make those, per se. He crafted the computer files needed to make those, but the machines did the rest. A hand maker would take weeks to make those trays. Andy probably took a week at the most, for all the ones he made. And while those were being made, he's working on something else. Again, that's hard for the "hand crafters" to compete with. I won't even get into how it affects pricing.
@dshe8637
@dshe8637 10 ай бұрын
Yes, these aren't craft items; they are industrial mass produced
@lstineman
@lstineman Жыл бұрын
Great video Andy. We also do a lot of those events and I couldn't agree more, the relationships we've built are amazing and have helped in so many ways.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Thanks, Larry. Glad you enjoyed it!
@mbioman
@mbioman Жыл бұрын
What about factoring in the time to make and finish the products?
@stockcarbangertoytracks9634
@stockcarbangertoytracks9634 Жыл бұрын
I also thought this. Don’t you need to factor in your time preparing for the trade shows. If treating this as a hobby then ok but as a business this should be thought about. Great video though, thank you for sharing your honest insights once again. Some Great tips for us all.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@jefferycoleman4371
@jefferycoleman4371 Жыл бұрын
I think you are very professional, helpful to me at the least, thanks and keep it coming bro.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Great to hear. Thank you👍
@rayjackson4547
@rayjackson4547 Жыл бұрын
Great video and I love math, because math does not lie. But I did not see you cost for booth rentals, maybe $1200 ish for all 4 events? Overall decent margins and yes you do make connections and get feed back. I would have thought the pumpkin trays would have done better. They look nice and a bit different. Thanks for the overview.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
I did forget to mention this but it is factored in. Total entry for the 4 events $320
@kelargo
@kelargo Жыл бұрын
A brewery would probably buy the beer tray. That's where I've seen them, versus in home use.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
I was hoping this would happen. But no luck this time
@semperidem2577
@semperidem2577 Жыл бұрын
Or bars that want to do tasting sessions because you've got to have different beers/ales in each glass for it to have any point. An individual would only want something like that if they were hosting some kind of beer tasting event at their homes, and whilst that's not completely unlikely, I do think you're limiting your market. Much better to reach out to a local bar and offer this product to them.
@jakrn01
@jakrn01 Жыл бұрын
You would probably need to times the revenue by .75 prior to taking out expenses other than the taxes unless they were included in the 75% markup as well.
@davidkleinman4920
@davidkleinman4920 Жыл бұрын
Wait, but what about the products you made for this that didn’t sell? What was the cost of those products? How much time did you spend on manufacturing? I think all of that has to be considered when comparing to other selling avenues. The inventory cost is a real thing for any in person selling opportunity.
@theuncledanny8500
@theuncledanny8500 Жыл бұрын
Sell the flight boards to the brewery and you could Lazer etch the logo on the Handel's and glasses
@traceyj3979
@traceyj3979 10 ай бұрын
I did not see where you mentioned show fees that can be a really big expense. I did look at transcript of program to make sure I didn't just miss the show fees cost and didn't find it there either.
@shawnmurray7232
@shawnmurray7232 Жыл бұрын
Part of the "is it worth it" is the actual material cost, and the hours of labor involved in making the products, which you only touch on with the "75% margin"... your labor hours should really be added along with that 53 hours of event time to determine the $$/hour metric.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
For these events, my profit margin is 75% after all costs are accounted for, including materials and labor.
@deanmartin7593
@deanmartin7593 Жыл бұрын
Great to hear it was such a success. Sounds like a great starting point for future events and collaborations. Just 1 question though. Does the 53 hours include the labour to make the items?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@davinche2869
@davinche2869 Жыл бұрын
I cant see how you can create 7k worth of items in 53hrs even though most of these products are machine made.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
@@davinche2869 I didn't. That's why I didn't divide the 7k by 53 hours. By multiplying my total revenue by .75, I'm accounting for my labor cost in the other 25%
@Remydelco
@Remydelco Жыл бұрын
Love the make friends with other vendors section. You’re not competing with them you’re competing with yourself! They are likely to point someone your way if they know you have something that they don’t
@timpoll7094
@timpoll7094 Жыл бұрын
What about labor in building the products? Were there booth costs for the events?
@erics2670
@erics2670 Жыл бұрын
Hi Andy, saw something you might want to change in the video, Hehe, 6:19 you might get some "hey what's up" from people who bought from you if they see/hear this. Great products you make, working on it with a Pair of Genmitsu one 6060 and a 1010 to make things as good as yours. Only problem I'm having is finding wood that looks the same after the cuts that all the CNC KZbin videos use or even holds together after the cuts.
@AuditingArkansas
@AuditingArkansas Жыл бұрын
Can that bag caddy be made with a CNC instead of a laser?
@monicaharvell
@monicaharvell Жыл бұрын
Can you please do a video on how you achieve 75% profit, on average, on your products. I’m nowhere close to getting those kinds of margins and would like to better understand how I can capture similar returns.
@hansdegroot8549
@hansdegroot8549 Жыл бұрын
Interesting video. Thanks for sharing. I went through all the comments because of your calculations. In addition I miss there fees for receiving money through credit cards. You mentioned it, but it was not in the calculation. Also, I cannot imagine that a lantern costs 7.50 dollar, including material, your production time, energy, disposables, depreciation of your tools, etc.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Thanks. Lanterns actually are closer to $5
@Bennn__nnn
@Bennn__nnn Жыл бұрын
Awesome vid, thanks ! Any chance you will end up selling the lantern plans on your shop Andy page ? They are an awesome idea!
@WoodworkingforAnyone
@WoodworkingforAnyone 2 ай бұрын
It's very easy to be self conscious about asking for the prices you deserve. If you buy things from a booth like this you are CHOOSING to spend DISPOSABLE money. People also enjoy spending a lot of money on special things. Say your price with confidence. Know what skills you bring to the table. Just because we understand its some wood glued together doesn't mean that is what they see. They see a cute thing for their neice and want your help coming up with a reason to take it home. Help them take it home.
@chriswhitley3283
@chriswhitley3283 Жыл бұрын
On the pumpkin, put handles on it an maybe carve out for wine glasses and wine bottle in the middle. Two glasses on the small one and four on the big. Anther thing to look at is presentation. Actually put glasses and wine bottle on each size.
@andreww6738
@andreww6738 Жыл бұрын
Thank you for sharing great detail about your events, very informative for sure. I expect the location of each event has a lot to do with what interests people, regional cultures are very interesting and could be investigated a wee bit prior to the event, but that does use up some time. Anyways thank you very much. I plan on selling at a few flea markets here in Ontario Canada next summer, so have been investigating regions for max results. Hope you and your Family have a Merry Christmas, and all the best in the New Year of 2023.
@anthoneysidra5521
@anthoneysidra5521 Жыл бұрын
For your calculations Wouldn’t you have to minus the 25% material cost from revenue before you remove other costs then divide what is remaining in total hrs applied Im trying to calculate my costing & thats what I normally do Then i tried it your way & it gives a large variable Any help would be greatly appreciated thank you
@alwayscensored6871
@alwayscensored6871 Жыл бұрын
Just Registered my new business today. The credit card payment system just got bumped up the top of things to get. After I make stuff to sell.
@trickhester7932
@trickhester7932 Жыл бұрын
Lots of helpful information here. Thanks. If I might make a guess, the reason your beer flight boards didn't sell is because they are meant to be loaded with several different beers for tasting. That works well in a beer bar with lots of taps, but nobody is going to open four (or more) different beers at home. You could probably sell a ton of them to brew pubs especially with custom laser engraving.
@nelmarkrp
@nelmarkrp Ай бұрын
Enjoyed the video but I noticed you didn’t include build time for the items in your costs. Was it included in your product cost or just overlooked?
@joeleonetti8976
@joeleonetti8976 Жыл бұрын
Just discovered your channel. Thanks for sharing. I have been doing woodworking with hand tools for a while and have started doing some of this. Looking to make things that might be easier on my hands. Do you have specific videos tied to what laser to use, etc,for those wanting to dive deeper into that approach?
@BelieveInTheLordJesus777
@BelieveInTheLordJesus777 Жыл бұрын
We're the energy costs and the time spent to produce these products factored in?
@miedan21
@miedan21 Жыл бұрын
2:38 beer flight boards: so good first step of considering the audience, however really put yourself in the audience shoes. I get 4 glasses, none of which hold a standard can or bottles volume of beer, this product is ideal for 4 taps/kegs, so works well for restaurants and tasting rooms but not so great for beer consumer, who if has a keg/tap setup in their home will likely only have 1 flavor not 4. Instead sizing this up for standard bottle or can can be a difference maker. If you want to stay on the CNC, perhaps a snap kit designed to carry 6 12 oz bottles with handle would sell better at an event like this.
@Lacroix999
@Lacroix999 Жыл бұрын
Costs for things like business cards for marketing, should still be accounted for and included in the product cost price you come up with. Those shouldn’t be ‘extra’ costs and should be broken down just like the rest of your costs you have. It annoys me to see people not taking these things into account when pricing their products. You don’t leave stuff like that out! Other things you include SHOULD ALSO be things like travel and your meal expenses for things like this that you mentioned as well as a portion of your electric bill to run your equipment. You need to include ALL of these things in your prices even if the total break down is pennies-it all adds up so include it and increase your prices accordingly to accommodate for all of that! There should be no ‘extra’ expenses because you need to include those in your costs. If you can write it off on your taxes because it’s a business expense, it should be included in your product costs! Don’t forget to account for a percentage of mileage, gas and wear and tear on your vehicle as well! Find a way to break it all down. If it costs you more money to get to craft fairs, you should either raise tour prices to account for that or find ways to make it cheaper on you, like bringing your own lunches. This is why crafters don’t make that much money because their prices as so low and people don’t take them seriously and label this kind of stuff as hobbies because we, ourselves, don’t take it seriously and many times break even. Many people who purchase from us see us as cheap crafts and don’t think our stuff is worth paying more because we don’t charge more. Sure you have to charge what the market will allow, BUT you also can’t give your stuff away for free and if you raise your prices to truly reflect on all of that, the market will also go up around you to do the same landing it to where it should be so it makes it worth all our efforts.
@JohnMarkClark
@JohnMarkClark Жыл бұрын
Fantastic Inside information and insights.
@troymartell151
@troymartell151 11 ай бұрын
Whats your thoughts on the Carbide 3D Shapeoko 5 Pro 4x4 CNC Router w/ Compact Router
@AndyBirdBuilds
@AndyBirdBuilds 11 ай бұрын
It's a great setup. I'd plan on investing in the spindle eventually if it were me. shop.carbide3d.com/andybirdbuilds
@troymartell151
@troymartell151 11 ай бұрын
I'm.just waiting for it to be in-stock I'm gonna get the 4x4 pro fully loaded
@AndyBirdBuilds
@AndyBirdBuilds 11 ай бұрын
@@troymartell151 Awesome! Feel free to use my link to let Shapeoko know we talked.
@jonathandamewood5749
@jonathandamewood5749 Жыл бұрын
Curious if you are using 25% as material or goods cost shouldn’t it be on the total revenue?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
For these events, my profit margin is 75% after all costs are accounted for, including materials and labor.
@btigenie
@btigenie Жыл бұрын
Could you have done all the shows with products made from just the Shapeoko? Or, was the Avid necessary?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Great question. I think this would greatly depend on the products you're making, but I certainly could have done them with the Shapeoko. It would have more time into prep though
@haroldbieber7405
@haroldbieber7405 Жыл бұрын
Why more prep time with the shapeoko?
@theresasteinbach8230
@theresasteinbach8230 Жыл бұрын
Thanks for sharing.
@brentirvine2336
@brentirvine2336 Жыл бұрын
Are you related to the Bird families originally from Tichborne/Parham area in southeastern Ontario? I ask because there is an Andy Bird in my family who I haven't met.
@williamgatling3205
@williamgatling3205 Жыл бұрын
The pumpkin and beer trays are nice, but they aren't something that would be used often. I would pass on them for home because they take up too much space at home for limited use. Having them at your booth is a good way to prompt a business that can see you as a source for something custom higher volume. I micro-brewery NEEDS those beer trays and need them customized. Labeling the beer name on the tray adds value for them. A logo engraved on the handle blows the presentation out of the water. People will propose lots of stupid time waster ideas, but increasing your product line (within reason) is a good thing. I liked the huge flower you took awhile back just as a demonstration of capability and an attention draw.
@ryanschultz6633
@ryanschultz6633 Жыл бұрын
Also didn't include the time it took to actually make the products, did it? I didn't hear that in there.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
After making the products, my profit margin for these events was 75%. So when I multiply my revenue by .75 labor is part of the 25%.
@TxMasterOfNone
@TxMasterOfNone Жыл бұрын
Great vlog. I picked up some good tips. Question…Maybe I missed it but wouldn’t the time used to build your product lines need to be included in the hours to get a better picture of the hourly rate?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
For these events, my profit margin is 75% after all costs are accounted for, including materials and labor.
@kelargo
@kelargo Жыл бұрын
Was there a Cost at the event to rent space? Some places charge a lot..
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
There was. $40 for the first. $75 for the second and $100 for the 3rd and 4th.
@brendaweaver2997
@brendaweaver2997 Жыл бұрын
You need to start selling pumpkins believe it or not toward the end of August.
@ebrown3574
@ebrown3574 Жыл бұрын
Very Impressive... Does the $91. rate include the hours of making all you items?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Yes
@JJPetro
@JJPetro Жыл бұрын
Great information thanks, but, did I miss it?? What was your raw material cost and labor to fabricate the product? Was that in the 53 hrs?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@HillyBillyWoodworks
@HillyBillyWoodworks Жыл бұрын
Thank you 👍👍
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Welcome 👍
@129rmj
@129rmj Жыл бұрын
is the 53 hours total man hours for all people involved or combined? if both you and your wife invested 53 hours each, that's a significant difference than if you both invested 53 hours combined.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
For these events, my profit margin is 75% after all costs are accounted for, including materials and labor.
@williamgarr8100
@williamgarr8100 Жыл бұрын
You didn't include the vendor fee for the event themselves.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
You're right. I didn't mention it, but it's accounted for. It was a total of $310 for the 4 events
@51polarlax
@51polarlax Жыл бұрын
Some statistical error, you should have taken your event costs out of your gross revenue before calculating your profit margin. This gives you ~$200 less profit.
@danieldoyle3625
@danieldoyle3625 Жыл бұрын
Was there a fee or cost for booth rental?
@kurtanthony4935
@kurtanthony4935 Жыл бұрын
I didn't hear how much was factored, in regard to craft show booth fees.
@roberttuchenhagen6096
@roberttuchenhagen6096 Жыл бұрын
What is your hourly rate you are using when you determined a 75% profit margin after all costs including material and labour? Regards
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Around $50. It's the power of having robots. I've factored in machine maintenance, usage, electricity, etc.
@curtisoneill9929
@curtisoneill9929 Жыл бұрын
Your suppose to say "today only" implying it's on sale. And the regular price is more
@Rafael_Alavez
@Rafael_Alavez Жыл бұрын
I like this video today
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Thanks for watching!
@joecooper8527
@joecooper8527 Жыл бұрын
How many work hours for the 6 days ?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My 75% profit margin is after all expenses, including labor is accounted for
@scottgandy5148
@scottgandy5148 Жыл бұрын
what about your time to produce the product?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@chriswhitley3283
@chriswhitley3283 Жыл бұрын
It is essential to talk to other venders. Should have two people on show. One to sit at booth while the other circulates. One, it shows you are friendly. Two, you will see different ideas on their tables. A lot of people don’t want you to know they are making a killing on like cutting boards. It would be wrong to press anyone what they are sel. Trump
@stevecl8275
@stevecl8275 Жыл бұрын
What size cnc machine do you have?
@bryanwatson4865
@bryanwatson4865 Жыл бұрын
Over $7,000 revenue over four events?? Really?? We do these events here in Houston promoting handcrafted wood products of nice quality of different kinds and don’t come close to that, and these are not small turnout events! I’m not sure about this video and your numbers…….??
@caryallen9340
@caryallen9340 Жыл бұрын
Your product wasn’t hand made first as you use cnc machine. Which you paid thousands of Dallars for ! People see that when they go to a “craft show “. Plus being unique in shows , but price point is a must on your product. And yes being able to take credit card is must. Hope this helps
@donking9942
@donking9942 Жыл бұрын
Did you figure a 15.3% self employment tax on your profit?
@eriorellana89
@eriorellana89 4 ай бұрын
prices go up tomorrow lol
@stvcolwill
@stvcolwill Жыл бұрын
Andy, I think you might be missing a huge huge part of your profit margin calculation. Just my opinion, I find it really hard to believe that you included your labor in the cost of products. I'm suspecting that your product costs does not include the labor meaning how can you possibly make these things for that low of cost when including the labor. Material cost is one thing, but your time in producing should be included. for example, the lantern's wood would almost be at least $10 to $12 which would be almost half the total cost of the sale, not to mention wiring and LED lights and frosted paper etc and of course the Laser cutting time and the actual OPERATOR TIME. That $91 per hour figure couldn't possibly be right at the prices that you were charging. I do applaud you going out and making the journey and sharing with us. Sorry, just trying to be a realist.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@Luxsphinx
@Luxsphinx Жыл бұрын
Your estimate on materials seems a bit high. Looking at what I've paid for 1/8" Baltic birch panels and assuming those lanterns are like 8" or 9" tall and 3" wide, wood would be under $5 each (and lower if buying in larger quantities), you can buy RGB tea lights on Amazon for less than $0.60 each, and vellum sheets are like $0.13 a piece. Given that the lights and vellum could probably be gotten cheaper elsewhere when in bulk, I could see these being under $7 even when counting the few minutes of laser time each. They're definitely a nice project to sell at things like this and there are a lot of themes and options that can be put on them (different holidays, different colors -with a slight markup for painting, etc.). I didn't see any mention of a table/event fee (perhaps I missed it) but that is something I've heard local sellers in my area talk about in relation to costs of going to markets like this. There is something to be said for taking the product cost percentage off before subtracting the other fixed costs. Also, I'd say that the $91 would need to be divided by 2 since both of them worked on this, traveled, and ran the table for that time.
@azwheeling8189
@azwheeling8189 Жыл бұрын
You did not make $91.00 per hour for the 53 hours you spent selling your items. Unless they made themselves and you did not spend any hours making them. You should add together the hours spent making the sold items, and the hours spent selling them together to get your real wage. Yes you generated $91.00 per hour in sales but not in wages. I used to think about selling things at markets but when I added in all the time and money to do that I realized it consumed about 50% of what I thought I was earning making them.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
The time I spent making them is accounted for in my profit margin. My profit margin is after all expenses including labor is accounted for
@phaedruscj3330
@phaedruscj3330 Жыл бұрын
You forgot to list the top benefit of being able to spend all that quality time with your wife. Big mistake! :)
@chriszablocki2460
@chriszablocki2460 Жыл бұрын
You stole them fair and square. They're yours now. 🤷‍♂️
@paulsullivan649
@paulsullivan649 Жыл бұрын
Noticed you also didn't factor in the time cost to make each individual item. Would love to see a breakdown of how much time you think you put into creating the products. Very informative video still. Thanks!
@snb523
@snb523 Жыл бұрын
If you say it’s $40 today and they question then say it’s going to be $50 tomorrow.
@RonanKeane
@RonanKeane Жыл бұрын
It sounds like you weren't comfortable talking price by adding the word "today". It makes me believe you weren't confident with the value of your product. Lesson in sales: you need to believe in the value of the product you're selling and thereby justifying the price.
@mariajoseandchase
@mariajoseandchase 10 ай бұрын
People don't realize how important it is to view your "competition" as a really good ally. All ships rise together.
@domward8352
@domward8352 Жыл бұрын
I'm not joking here so please don't laugh or be offended but those beer trays that didn't do too well, if you chamfer the edges of the holes and possibly drill them through you could sell them as BDSM spanking paddles. There's a big market for that kind of stuff.
@ronin2963
@ronin2963 Жыл бұрын
Sry about pumpkin try. Such a Kool it.
@sstorm1328
@sstorm1328 Жыл бұрын
You did not mention the cost of renting your space...???
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
I did forget to mention this but it is factored in. Total entry for the 4 events $320
@edbilek8033
@edbilek8033 Жыл бұрын
Did you pay a fee to the events, to rent the spaces?
@the_chomper
@the_chomper Жыл бұрын
your numbers are wrong. you need to take and get your profit first then deduct the expenses otherwise you are not subtracting your expenses from your profits you are also subtracting 25% of your expenses from your production cost. 7122*.75= 5341.5 thats the profits minus production cost, 5341.5 - 652= 4689.5 thats your total profit, 4689.5/53= 88.48 an hour. its not a big difference but the larger your numbers specifically your expenses the bigger the difference.
@kevingeaney7741
@kevingeaney7741 Жыл бұрын
I didn't hear any thing about the venue costs! Surely these people didn't let you use their facilities for free?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
You're right. I did forget to mention these numbers but they were accounted for. The four events cost a total of $310
@brenchuckswood3826
@brenchuckswood3826 Жыл бұрын
Was waiting for the total cost and was disappointed when you didn’t reveal the true numbers. You didn’t mention the CNC cost, depreciation cost, shop space, shop time, electric etc…. Only then can you truly know if your making money or not. Also making certain counting for two people doing the show which reflects 106 hrs of time spent.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@ccrepinssek
@ccrepinssek Жыл бұрын
Thank you for this honest breakdown. Valuable experience. 🍀
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Glad you found it helpful!
@Ricks2Cents
@Ricks2Cents Жыл бұрын
You forgot to count the man hours to create the items you sold.
@billopad9625
@billopad9625 Жыл бұрын
I reckon the beer glass caddies would work better if the hole divot was cut all the way through. People are clumsy AF and I reckon they’d be hard to carry so you could cut the holes through so that when you lift the tray, it grabs the glass at the halfway point, making it much more stable to carry. You could also cut a couple of the holes with slots to allow the neck of a wine glass to slot in.
@jesper1406
@jesper1406 Жыл бұрын
I love your attitude... I subbed...
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Welcome!
@TriPhatspots
@TriPhatspots Жыл бұрын
Andy, great job. Thanks for the video and happy holidays. Merry Christmas.
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
Thanks for watching! Merry Christmas!
@mikepetitt9624
@mikepetitt9624 Жыл бұрын
Thanks for the great info! A lot of what you touched on my family and I have figured out as well. This year for us we found our higher priced items didn’t do quite as well due to the economy ! So we made sure to scale several price points at our booth. I make charcuterie boards in just wood only and river table versions . Ended up providing different sizes to create a range in price points which helped us a lot. Thanks again for always keeping it real!
@s44577
@s44577 8 ай бұрын
Your words matter---yes, they do. It's about presenting yourself as a professional AND respecting the customer.
@BOTTLEDZ28
@BOTTLEDZ28 Жыл бұрын
You didnt mention so many other things that go into these events. Its not just your time driving to and from. Its the time spend driving around to gather material. Its the time spent setting up in the shop. Its the time spent cleaning up the shop. And lets not forget the cost of the utilities used for everything involved in get that project to go from a computer program all the way to vehicle used to get it to the event. Its a lot of work. Ive done this same thing for 5 years and a $3K 4 day event might net me $2K after its all said and done. Its just not worth the time and effort. I have realized that these "craft fairs" are just not suited for my woodworking projects. People who walk up and down the isles at a craft fair don't want $150-$300 items. They want a $50 item for $20. Etsy has also killed us small business owners too.
@josephgraham1065
@josephgraham1065 Жыл бұрын
So how many hours were used making the products? Did you have to pay for the spot at the events?
@AndyBirdBuilds
@AndyBirdBuilds Жыл бұрын
My profit margin is 75% after all costs are accounted for, including materials and labor
@MrPhoenix1800
@MrPhoenix1800 Жыл бұрын
To be honest as a woodworker I hate seeing lasers and cnc machines. Woodworking making joints and cuts to perfection is a art and takes a lot of time and research to master. Machines take all the fun /knowledge out of it and is probably putting some woodworkers out of business.
@boonedockjourneyman7979
@boonedockjourneyman7979 Ай бұрын
C&C doesn’t convey to idea of craftsmanship.
@bansheetech9035
@bansheetech9035 Жыл бұрын
Always a good day when there's a new Andy Bird video!
@eCitizen1
@eCitizen1 Жыл бұрын
You didn't have to pay for the space to be a vendor at those marketplaces?
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