I’ve been working with Renegade Craft Fair to publish a series of vendor tips. This month, we’re talking break-even point, or the point at which you’re making enough money to cover your expenses.
How much do you need to sell to stay in business?
Rachel wanted to take her craft from a side gig to full-time employment. She had a small online shop and did a few craft shows a year. She loved running her business, and she wanted to know how many sales she would need to make her target salary. So together, we plugged a few numbers into a tool called the break-even analysis and voila! Rachel had her number.
Maybe you just want to know how much you need to make at RCF to cover all your costs. Again, break-even analysis comes to the rescue.