As a small business owner, you will always have one eye on your finances. So, when the opportunity to grab a space at a trade show comes up, you might well think you cannot afford it. The trouble is, you know you will be missing out.
Trade exhibitions can be gold mines to small businesses. They are an excellent opportunity to get face-to-face with your ideal customer. In today’s guide, we’re going to go through some of the ways you can cut the costs of getting a space at an industry show. Read on to find out more, and with any luck, you might feel like you can afford an exhibition after all.
There are two types of costs to consider when you attend a trade show. The first is the money you will spend, and the second is the time it takes out of your regular business routine. A two or three-day event can take up to a week out of your normal schedule, and have a severe impact on your normal business profits. However, with the right plan in place, you will be able to identify the right team to bring with you, that will have the biggest impact on your bottom line.
Travel and Accommodation
Next up, have a think about the logistics of attending an event. If it’s a long way from your business premises, is it worth the expense in travel and accommodation? Hotels can be expensive, and every cent you spend will be affecting the cost of sale. Consider traveling in a single car or van, too. If every member of your team makes their own way there, it is going to bump up your expenses even more.
Be Smart with your Stand
Display stands are essential when it comes to trade shows. But, they can be expensive. Your best bet is to see if you can get hold of used trade stands that can be adapted to your needs. You can take a look here, for example, or at any other exhibition stand service. You can also think about only buying the basics, and creating some graphics yourself. You will need someone with an artistic flair, of course, but it will help you keep your design costs down.
Choose the Right Trade Show
Larger trade shows tend to be more expensive with regards to renting a stand and space. But, they won’t always give you the best value. You will be fighting for attention with some of the biggest brand names in the world, whose budget is not an issue. And, it can be hard to pull people away from the brand leaders, whatever industry you are in. You have to weigh up whether the entry costs are worth it when a smaller event with less major players might result in more stall visits.
Is there a complementary business to yours in your local area? If so, why not team up and get a stand between you? You will slash your costs in half, and you might also find that you get exposure to a slightly different market. Who knows – maybe it could be the start of a long and fruitful partnership?