National should be really interesting

Fballguy · #1 06-23-2022, 07:34 PM

Quote:

Originally Posted by bnorth

"Written Off" does not equal free it just let's you deduct a business expense.

Correct...but it helps.

Steve_NY · #2 06-23-2022, 08:42 PM

Johnny,

Really good estimate -- but $3,000 covers the booth cost, the hotel and travel costs. Gas prices will increase all of our costs this year. I figure all of the other costs such as meals every day add to another $500 - $1,000. If I work hard every day, which I do, I want to have a good dinner every night, and I am paying for two. So I have to do at least $3,000 - $4,000 before I make a penny. But I only set up at one show a year, so I try to make the best of it and hopefully I make enough to keep me happy until the next National.

Steve_NY
DynamicTwo@Aol.com

Johnny630 · #3 06-23-2022, 08:49 PM

Quote:

Originally Posted by Steve_NY

Johnny,

Really good estimate -- but $3,000 covers the booth cost, the hotel and travel costs. Gas prices will increase all of our costs this year. I figure all of the other costs such as meals every day add to another $500 - $1,000. If I work hard every day, which I do, I want to have a good dinner every night, and I am paying for two. So I have to do at least $3,000 - $4,000 before I make a penny. But I only set up at one show a year, so I try to make the best of it and hopefully I make enough to keep me happy until the next National.

Steve_NY
DynamicTwo@Aol.com

I hope you have a great show Steve :-)

Michael B · #4 06-23-2022, 09:59 PM

And the one expense no one has mentioned: the initial cost of the inventory you are selling. That is also part of the equation. Yes, some like Steve have stock they purchased years ago so it may not be as big an issue. There are probably more than a few dealers who are purchasing year round not just for this show, but to keep their inventory fresh or deals too good to pass up.

Steve_NY · #5 06-23-2022, 10:40 PM

Michael, I didn't bring up the cost of inventory but I did think about it. As you said, most of my sales are of items I bought 30-40 years ago. I tend to try and make a new display every year and hopefully attract interest from other sellers.

But here's a funny story: I had a friend named Stanley Salomon who did every one of my monthly shows in Bayside, NY. He also set up at the Gloria Rothstein shows and would take 3 tables for like $1,000. Then when he did $1,200 to $1,500 he would be like a pig in you know what. I would say Stanley, only rent one table and you cut your costs and you make a decent profit, but he would always say that he couldn't get everything out.

BTW, I still spend a huge amount every year on sports and non-sports, which this year was more than ever before, but sales to long-time customers have made those investments worthwhile. My latest acquisitions will see the light of day for the first time after sitting for 50-80 years in a box in a basement.

Thanks for your good luck wishes.

Steve
DynamicTwo@aol.com

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