I saw on The Crafts Report’s discussion board that some artists use flea markets and/or swap meets to sell old, non-selling work and extra or outdated supplies. Is this a common practice and something I should also be doing? What kind of profit can I expect from one of these venues? There is a general craft and gift swap meet in a town a few miles from my house, and I’ve often considered going. I never have because I didn’t want to bring my regular stock—I don’t think attendees will pay my regular prices. Should I try it out and just bring my leftover work and extra supplies? What do you suggest?
Every manufacturer, and you are a manufacturer, regardless of size or attention to inventory control ends up with left over product. These items may be seconds, overstock and product development samples. It appears that you have product tying up your capital and it would be smart to turn it into cash. Finding the right plan for this may take some time to develop.
I agree that you have to protect the integrity of your work and agree that these venues are not right for your first quality items. Flea markets and/or swap meets may not be the best choice for you at all. These events typically draw customers looking for deeply discounted items and your work even with generous discounts may still be too expensive to appeal to this crowd. I would suggest you visit any of these events before you decide to participate. Hang around, watch what is selling, note price ranges, chat with exhibitors about their sales and to attendees about why they are there. Perhaps you will find a more upscale flea market where you might do well.
Watch the calendar for events in your town/area that might include venders and think through whether this might be a good place for you and your work. Another approach, the one I feel most comfortable with, is to hold a studio sale and move the leftovers out that way. Studio sales are a long established highly respected way to solve this problem. Craftspeople who have had studio sales for a number of years report large numbers of return shoppers. Choose a date, Saturday and Sunday are best. The forth quarter is always best. Send out press releases to local papers and any other places where they might be seen by prospective customers. Print a few well designed posters and get then around town. Clean the place up a bit, price the items and group them together on a table/s. Be sure to have some of your firsts where they are visible, you will most likely sell some of these also. Alas, selling seconds and overstocked items is seldom profitable, these sales are valuable because they turn your unwanted merchandise into cash that can be reinvested in your business