During 2020, we had time to think critically about how The Little Craft Show can be a more equitable and sustainable organization, and how we can best support our creative community here in Northwest Arkansas.
We’ve decided to abandon our previous business model (a booth fee is charged for the opportunity to sell your goods at the show, and you keep 100% of sales) for a more democratic, profit-sharing one — The Little Co-Op.
Under the Little Co-Op, vendors will still purchase a booth that will gain them entry into the show, and keep 100% of their sales. However, your booth purchase will also entitle you to a share of The Little Craft Show’s profits from each event.
Here’s how it will work:
- 50% of net profits will be set aside for vendor distribution
- Your share percentage will be determined by the total income from each event. For example:
- You purchase a booth for $150. We end up with 50 total vendors paying $150, plus $2,500 in sponsorships, for a total of $10,000 in event income. Your share will be $150/$10,000, or 1.5%. This percentage will be doubled for self-identifying BIPOC participants as a small act of reparations.
- We will distribute your profit share within 30 days of each event using the following formula: (net profit x 50%)(1.5%) = distribution per vendor. For example:
- Say our total net profit from the event after expenses was $5,000. 50% of that is set aside for profit sharing, so $2,500. Using the calculation from the step above, you’ll be sent a distribution check for 1.5% of $2,500, or $37.50. (3% or $75 for BIPOC vendors).
- Of course, your distribution could be more or less depending on the profit from each event. Along with your check, we will send a breakdown of revenue and expenses so as to be fully transparent in how the process works.
- In addition to vendor profit sharing, 10% of profits will be shared with our contractors, artists, and employees after each event.
- For further clarification or suggestions, you can email us at firstname.lastname@example.org