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You're selling your handmade products at your local craft fair but aren't sure what will sell. It's not a matter of what you think will sell but about what has sold in the past.

How do you find out? Follow these 10 tips to produce hot sellers for your next event.

Keep Production Costs Low

Craft fairs are not the time to bring out your artistic creations. The best way to make a profit is to keep costs low. This means that you need to sell your item for more than it costs to make.

Example: One baby sweater costs $25 to make. To earn a profit you must mark it up to get your costs back plus make a profit. This is not something to sell at a fair.

Example: A set of 3 face cleaners cost $1.75 to make. It is easy to mark this item up and to make a profit. This makes a good choice.

Cater to the Largest Demographic

Before you produce the goods for your show you need to know who will be attending. Will they be retired? Is it a family oriented show? Is there an entrance fee or is it a no cost event?

These are important to know because this is how you decide what products to sell.

Keep Prices Below $25.00

Most local craft fairs are run by churches or non-profit clubs. They make their money by selling the booth space not by you selling your product.

You want to have varying prices from $1 - $25 so everyone, including children can have fun shopping.

Stick with Everyday Gifts

Gifts that are simple and appeal to certain groups are best. Think children, girl friends, boy friends, teachers, coaches, grandparents, parents, holidays, bosses and other common relationships and events.

Make Quick Items

The items you make should not take more than 1-hour. You want to stick with products that you can make in under 30-minutes. This way your profit margin will be high.

Package to Sell

You want to have quick sets that are easy for customers to purchase. Think about how you shop during Christmas or Easter. You like the pre-made gift sets because the choice has already been done for you.

Shoppers are busy people so make it easy for them to choose a gift.

Trendy Can Be Viral

What's happening around you during your event? What's viral on social media or in your town? Capitalize on that. Don't use copyrighted characters or images but use similar colors or wacky sayings.

Example: Local sports colors make good products. In other words ribbons, hats, bracelets, etc.

Invite Friends to The Show

This might be a little sneaky but it helps to invite friends to the craft fair. Have them wear your product around.

Think of the last time you were at an amusement park or concert. Certain items were hot sellers. Why? People saw others wearing the item (mouse ears) and wanted them too.

Price Your Items to Sell

This is different from pricing under $25. Group products together. Some common groupings are:

buy one get one free

buy one get one half off

2 for the price of one

50% off two

Buy this get that

Colors Make the World a Better Place

Psychology has proven that color affects the way we feel. In fact we place a big value on how visually pleasing something is. Use this to your advantage.

Red - urgency, sale, and energy

Yellow - youthful, optimistic, attention grabbing

Blue - trust and security

Green - wealth and relaxation

Orange - buy, sell, now

Pink - romantic and feminine

Purple - soothing and calming

Knowing what sells well will help increase your sales at your next craft fair.

Here's an action step for you to take:

Go to your local store. What are they selling? How are they marketing it? Pay close attention to how they use color and pricing in their displays.

1. How to Pick the Right Consultant

When choosing a consultant, be sure they are qualified to handle matters pertaining to your investment. Search for professionals who have education and experience in the real estate field, in general, and rental properties, in particular. Begin your search for real estate experts by asking for referrals from individuals in the profession

2. Beware of "Know It Alls"

Beware of the consultant who is willing to give you advice on all subjects. Some people will expound on anything and everything, even if unqualified or unknowledgeable. Always make sure you have people working for you who have the expertise to get the job done.

3. Getting the Most Out of Your Consultants

The best way to get the most out of your meetings with consultants is to record them. You will be surprised to find how much you didn't hear when you play it back. Let the consultant know before you begin that the meeting is being recorded and get approval. If there are any objections, get another consultant.

4. Controlling Fees

Your recording can also help you control billing costs. Consultants who bill on an hourly basis should give you a breakdown of hours (or a fraction thereof) based on specific matters. Make note of the hours recorded each time you use the consultant's services. Then when you receive the bill, compare the hours. If the bill doesn't agree with your figures, ask to see supporting documentation, such as copies of telephone bills and employee time sheets.

5. Avoiding Unnecessary Billings

Remember, you're working with an expert. Don't be afraid to ask, "Why do you have to research everything?" You're right in thinking they should have a strong background in the area of their expertise. The more research, the more billable hours. Be careful!

Beware of the consultant who charges a flat work fee. I've talked with attorneys who charge $200 per hour for their time. However, if you ask the same attorney to prepare a living trust, the attorney might quote you a flat fee of $5,000, knowing that with the help of a secretary and a word processor, actual billable time won't come close to that figure.

Insist on getting a written cost estimate before any work is performed. An experienced consultant should be able to do this. If the consultant cannot, find out why not. Unless you're asking the consultant to do something that is outside his or her field of expertise, there shouldn't be any reason why an estimate can't be given. If you are asking for something outside of the consultant's area of expertise, don't. Get another consultant.

6. Protecting Yourself

All consultant reports should be in writing. Recommendations, estimates, interpretations, and opinions must be written down to avoid any misunderstandings. Your decisions are made based on the consultant's input. Don't be trapped into the "I said this instead of that" or "I meant this instead of that" syndrome. The degree for potential liability is extremely high. Protect yourself by getting everything in writing.

Have the recordings transcribed or make written notes of your meetings with the consultant. Be sure everyone involved receives a copy. The notes must reflect what took place at the meeting (and should include telephone conversations), the plan of action, and who is responsible for what. Always protect yourself from other peoples' failures. Having it down in writing helps.

7. Keeping Control

Probably the most important rule to remember while working with consultants is to maintain complete control. Consultants provide the support for the decision-making process. It's up to you to maintain control by making the decisions. Don't relinquish command to anyone. If you lose authority, you'll end up losing your money.

ABOUT THE AUTHOR: Eugene E. Vollucci, is considered to be one of the foremost authorities on real estate taxation and rental income investing and has authored four books in these fields. He is the Director of the Cal State Companies Center for Real Estate Studies, a real estate research organization.

1. How to Pick the Right Consultant

When choosing a consultant, be sure they are qualified to handle matters pertaining to your investment. Search for professionals who have education and experience in the real estate field, in general, and rental properties, in particular. Begin your search for real estate experts by asking for referrals from individuals in the profession

2. Beware of "Know It Alls"

Beware of the consultant who is willing to give you advice on all subjects. Some people will expound on anything and everything, even if unqualified or unknowledgeable. Always make sure you have people working for you who have the expertise to get the job done.

3. Getting the Most Out of Your Consultants

The best way to get the most out of your meetings with consultants is to record them. You will be surprised to find how much you didn't hear when you play it back. Let the consultant know before you begin that the meeting is being recorded and get approval. If there are any objections, get another consultant.

4. Controlling Fees

Your recording can also help you control billing costs. Consultants who bill on an hourly basis should give you a breakdown of hours (or a fraction thereof) based on specific matters. Make note of the hours recorded each time you use the consultant's services. Then when you receive the bill, compare the hours. If the bill doesn't agree with your figures, ask to see supporting documentation, such as copies of telephone bills and employee time sheets.

5. Avoiding Unnecessary Billings

Remember, you're working with an expert. Don't be afraid to ask, "Why do you have to research everything?" You're right in thinking they should have a strong background in the area of their expertise. The more research, the more billable hours. Be careful!

Beware of the consultant who charges a flat work fee. I've talked with attorneys who charge $200 per hour for their time. However, if you ask the same attorney to prepare a living trust, the attorney might quote you a flat fee of $5,000, knowing that with the help of a secretary and a word processor, actual billable time won't come close to that figure.

Insist on getting a written cost estimate before any work is performed. An experienced consultant should be able to do this. If the consultant cannot, find out why not. Unless you're asking the consultant to do something that is outside his or her field of expertise, there shouldn't be any reason why an estimate can't be given. If you are asking for something outside of the consultant's area of expertise, don't. Get another consultant.

6. Protecting Yourself

All consultant reports should be in writing. Recommendations, estimates, interpretations, and opinions must be written down to avoid any misunderstandings. Your decisions are made based on the consultant's input. Don't be trapped into the "I said this instead of that" or "I meant this instead of that" syndrome. The degree for potential liability is extremely high. Protect yourself by getting everything in writing.

Have the recordings transcribed or make written notes of your meetings with the consultant. Be sure everyone involved receives a copy. The notes must reflect what took place at the meeting (and should include telephone conversations), the plan of action, and who is responsible for what. Always protect yourself from other peoples' failures. Having it down in writing helps.

7. Keeping Control

Probably the most important rule to remember while working with consultants is to maintain complete control. Consultants provide the support for the decision-making process. It's up to you to maintain control by making the decisions. Don't relinquish command to anyone. If you lose authority, you'll end up losing your money.

ABOUT THE AUTHOR: Eugene E. Vollucci, is considered to be one of the foremost authorities on real estate taxation and rental income investing and has authored four books in these fields. He is the Director of the Cal State Companies Center for Real Estate Studies, a real estate research organization.