I am often emailed with specific business questions, and although I would love to answer them all, I sometimes fall a little behind. In attempt to help anyone and everyone finding this type of info helpful, I am going to try to give you my 2 cents here:
For national trade shows...
I am truly not the expert on this one. The only trade show that I have personally attended was KIDShow Las Vegas when I first launched the company in 2007. Ever since, I have been torn on the decision to attend these events. The cost is extremely high when factoring in travel and all of the additional costs on top of the booth. Although, with that said, it is all about ROI. If you write enough sales to cover your cost, it is a no-brainer, especially with re-orders down the road. If you don't write enough sales to cover the cost, is the exposure worth it? The trouble is you never know how much you're gonna write until the money has been spent and the show is over.
Another interesting piece of this puzzle for us is that we have been extremely blessed by the fact that 95% of our wholesale customers have come to us. In the past 3 years, we really haven't participated in trade shows or trade advertising. Fortunately, we have incredibly supportive fans who often recommend our products to their favorite stores. We also have two super sweet sales reps at their local markets who have introduced their clients to our brand. As our business grows, we continue to expand and explore other opportunities, but so far this is where we stand with trade shows.
Here is a list of the children's trade shows that I seem to hear about most often over the years (just in case it is helpful):
KIDShow Las Vegas
ABC Kids Expo
Bubble New York
ENK Childrens Club
Other events (specifically the Boom Boom Room):
Ok, I get this question often, and I totally understand why, but it is a tough one to answer. Here's why...I truly believe that most events are what you make of them and 90% of the time, they are a lot of expense for an ROI that rarely justifies it. For me personally, I am glad that we did the Boom Boom Room and am grateful that Jayneoni extended the invite. With that said, I feel like, over the years, it seems as though almost all children's product companies have received the same invite, and the reviews are quite mixed. For me, it is all about expectations. If you expect to walk into some event, to be surrounded by glamorous celebrities and for your line to become a Hollywood hit overnight, then this is not the place for you. If you are going into this as a possible press opportunity and fun experience, then I think it could be worth the cost. For me, I'm glad we went when we did, but don't have plans to return in the near future.
I find that so much in this business is hit or miss, trial and error. You truly have to find what works for you. I would say that most of our business friends do participate in these trade shows and some attend the Boom Boom event year after year. I find that I often stray from the norm in the business and do what works for us. With that said, this may not necessarily be what works for you.
Thank you so much for this and the time you take to post. I just wanted to update you on my venture since I last wrote you. I have been reading Mommy Millionaire and following alot of her steps and I have been getting very positive feedback. I recently made an appt with my local SCORE/SBA and we I spoke with them about my product I received extremely positive feedback and was told to seek a patent attorney right away. I felt good about this because they see alot of new business owners/inventors daily so this meant alot. Well, I have an appt with a business/patent attorney on Monday. Things are moving along. It is very scary however.....there's so much to do. I will meet with the SCORE rep again on Tues to start putting my business plan together, because at this point I have tons of notes and am overwhelmed at how to put it all together. I have also been working on sourcing fabric and packagers in addition to insurance agents, accountants, bankers, etc... Wow, tired just thinking about it all! You are awesome for following through and deserve all the success in the world!
ReplyDeleteI love reading your blogs. I have been an aspiring childrens wear designer for a couple years now. I have sold in a few stores, but I really want to get a manufacturer so I can grow. I was hoping to get your feedback on a few things...At what point did you know you needed a manufacturer? How do I find a manufacturer, are there any in the US, and would you ever share who manufactures Ruffle Butts? I figure going to a referred company is always better than going in blind sided. And Lastly, Do you design everything yourself, or do you have a team for that? I am completely inspired by your story, and I can only hope that one day I will be half as successful!
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