Ever wondered if a Vendor Fee was TOO HIGH!? Here’s a guide to help with your decision-making process. Personally, after participating in a significant amount of Vendor Events I’ve seen it all! Soooo I’ve decided to compile a list of Example Vendor Fees. I’ve found that the amount of expected attendees, generally determines what Vendor Fee is appropriate as an investment.
Example vendor fees:
$50- $150 = 50-300 attendees
$150 -$250 = 300- 1000 attendees
$250- $1200 = 1000- 40,000 attendees
$1200 = 40,000+ attendees
Basic Questions to ask the Event Organizer (or Research if accessible)
- Is there a website?
- How long has the event been in existence? Ex. Monthly, 1st Annual, 10th Annual, etc.
- Who’s involved? Who’s the organizer? Are they Influencers, movers, shakers in the industry?
- How many Attendees will there be? (The vendor fee should reflect the amount of attendees
- What type of Marketing will be completed prior, during and following event? Will event be marketed online via social media, radio, newspaper, etc.
- Will there be duplicated vendors (any vendors in the same category or same company as me)
- IF YES, strongly consider whether this works for your business. You’re paying the vendor fee therefore you want to be the exclusive (only) vendor of your kind at the event.
- Cost of the Event? (select an event in your budget. Remember…the purpose of participating in vendor events is so that you make a profit. )
When investing a larger vendor fee, ASK MORE QUESTIONS? Remember you as the business owner have to determine whether this particular event is beneficial for your business. Just because the event is planned and is official doesn’t necessary make it good event!
Here are a few additional questions to ask the event organizer:
- Is there a media press kit? (This will tell you the demographics who will be in attendance)
- Will there be Media Coverage? (Newspaper, TV, Radio, Blogs, Photographers, etc.)
- Will there be any opportunities for Vendors to speak during the event/ give raffle prizes/ logo listed in event program/ products or samples inclusion in event swag bags (for exposure)? etc.
SUGGESTIONS
- Look at Event/ Organizer Social Media Accounts
- Are people talking about the event/ Engagement?
- (If possible) research how many tickets have been sold (Confirmed Attendees)?
Tips for success during your event
- Be Friendly and Smile
- Be Approachable
- Present yourself as an expert
- Build relationships/ Have conversations
- Don’t be Pushy!
- Put the Products in the potential customers hands
- Allow customers to sample on the spot/ Give away samples
- You can be confident that attendees are there to buy
- KNOW YOUR PRODUCT! Educate yourself on the product.
- Wear your Brand. Be a Product of the Product
- Walk around and network with guests and OTHER VENDORS
- Many times other vendors will purchase the product
- Pass out samples (or candy) when you walk around
- The 100 No’s still apply at vendor events .DON’T BE AFRAID OF REJECTION! The more No’s you receive, the closer you are to a YES!
Please share some of your Upcoming Events with us!
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