What does "making expenses" mean?
I often hear the statement "I made expenses" from exhibitors at poorly attended shows. I ask if they included the cost of replacing the inventory they sold as an expense. Consistently the answer is "no".
I am guilty of this as well. Since I don't time study my processes I really don't always have a good handle on what my creations really cost to produce and market. Not a very good business model. And finding the time to log all the data isn't easy either.
So this year I have embarked in writing down start and end times along with the task at hand in a effort to get a better grasp on the time I am putting in on a project. It is a PIA for sure and I still haven't put that information into a spreadsheet.
How ever, I am fairing much better in tracking the materials that are consumed in each project. I create detailed cut lists, in Excel, that have all the wood needed to be cut along with waste formulas and non-wood materials consumed by the project. Once all that is verified I apply my keystone markups to arrive at a selling price. Thus I know very well what I need to factor into the "I made expenses" statement.
Tags
- 2014 ACC St Paul (9)
- 2014-PMA Craft Show (7)
- 2014 ACC Baltimore (6)
- 2014-Washington (DC) Craft Show (6)
- cherry (5)
- walnut (4)
- bruce (3)
- desk (3)
- erdman (3)
- furniture (3)
- rolltop (3)
- The Journey (3)
- baskets (2)
- birdseye maple (2)
- Black Saturday Furniture Sale (2)
- Cabinet (2)
- Neihues (2)
- Oval Tambour Boxes (2)
- Pond (2)
- white oak (2)
- 2014 (1)
- 2014 Columbus Winterfair (1)
- 2015 (1)
- 2016 American Fine Craft Show Washington (1)
- ACC (1)
- Baltimore (1)
- belt (1)
- Cherry Oval Tambour Desk (1)
- cock (1)
- craft (1)
- craft show (1)
- CraftMarket (1)
- Decade Box (1)
- delta (1)
- drawer slide (1)
- excalibur (1)
- fine (1)
- Fine craft (1)
- flushing (1)
- general international (1)
- ghost (1)
- graphited canvas (1)
- Gyokucho #372 Rip Cut Dozuki (Dovetail) Saw (1)
- Hafele (1)
- hardware (1)
- HP Officejet Pro 8600 (1)
- HVLP Turbine Gives Up The Ghost (1)
- Introducing 2015-7 (1)
- Jewelry Tower (1)
- Krenov (1)
- luggage repair (1)
- making expenses (1)
- Makita (1)
- Morristown (1)
- Obituary (1)
- olivewood (1)
- oval (1)
- Oval Tambour Desk - Maple (1)
- ovaltambour (1)
- pigeonhole (1)
- plumbing (1)
- PM50 (1)
- purchase (1)
- Retired (1)
- rick (1)
- Rolling Carry-On (1)
- Router table (1)
- sander (1)
- shoji (1)
- sill (1)
- Sofa Cabinet (1)
- Spring Flowers (1)
- stand (1)
- statements (1)
- steves (1)
- Stools (1)
- tambour (1)
- The Pond (1)
- wall (1)
- White Lady Slippers (1)
Archives
- May 2023 (1)
- December 2020 (1)
- October 2019 (1)
- May 2018 (2)
- August 2017 (2)
- June 2017 (1)
- October 2016 (1)
- May 2016 (1)
- January 2016 (3)
- November 2015 (3)
Comments
Post new comment