This transcript was generated from the episode audio and may contain minor errors.
[Music]
Should you invest in a trade show booth? Should you get an expensive booth at a trade show? That's what we're going to talk about here on Side Hustle School. Welcome back, friends, listeners. Today's question comes from Marcus in Dallas.
He is considering getting a booth at a major trade show to showcase his products, but he's concerned about the high costs because, as noted, these things don't come cheap. So is it worth the investment? I'm always encouraging people to be frugal, to bootstrap, to start your business or your side hustle without spending a lot of money. But of course, there are also times when it's worth it to invest. So let's talk about the pros and cons of it.
If you might be in a similar situation at some point, or if you're thinking about making a product and you're like, how can I get the word out? How can I meet the distributors or retailers or manufacturers or whoever it is that you need to meet at such a trade show? Let's talk about the factors to consider and how you can maximize your return on investment. That's what we'll talk about here in today's episode. [Music]
Hey there, this is Marcus from Dallas.
I've been considering getting a booth at a major trade show to showcase my products. However, the cost is quite high and I'm not sure if it's worth the investment. What factors should I consider when deciding whether to get an expensive booth at a trade show? Are there any strategies to maximize the return on such an investment? I'd appreciate any advice you have on making this decision.
Thanks for all the practical advice on your podcast. [Music]
Marcus, in this situation, it's always good to ask, what are my business goals? And what stage is my business in? If you are just getting started, then that trade show investment might seem like, oh, this is something that's gonna, you know, really allow my business to take off, but you could end up getting in over your head and just spending a lot of money and not seeing the return on investment that you're hoping for. Whereas if your business is a little bit further along and you're like, okay, I've got some initial contracts, I've got some business going, but I'm really looking for the next level, you know, and I know that some key relationships will be at this event, then maybe that's the time to do it.
I've heard from people on both sides. Like I've heard kind of failure Friday stories of people who invest a lot in a trade show and then don't see much return. They're like, why did I spend all this money? I feel like I was kind of suckered into it. But then I've also heard, and it kind of depends on the industry, but in some industries like the stationary or greeting card industry, there's a really big show every year.
I think it's in New York. And that has allowed some businesses to go to the next level, as I said. So let's start with your goals, your objectives, evaluating the trade show, considering the total cost, not just the booth cost, but also your travel costs. And on that point, could you attend the event, travel to it without setting up a booth? Could you still be able to do some of the networking that you're hoping to do?
You know, that could be one solution. That could be one way to bootstrap it. Scope it out carefully. I would also talk to previous attendees and previous exhibitors. If you're trying to make this decision, if there are other people in the industry that you really respect, ask them.
Like, hey, could you tell me candidly, you know, what was your experience like? Do you think this would be good for me? And of course you can make your own decision, but just having that data might be very helpful. So I tend to think, like, start with attending perhaps, and then whatever you decide afterwards, evaluate your performance, measure the number of leads generated, sales closed, overall brand exposure, however you think of that, and just ask yourself as well intuitively, you know, what do I think? Was it worth it?
'Cause the data's important, but also your intuitive evaluation is important as well. Whatever you decide, Marcus, wishing you the best. Listener's always cheering you on as well. Let me know your situation, your challenges, your ideas, successes, what's going well and what's not. Would love to feature them on the podcast or just support you from afar, however I can.
sidehustleschool.com, lots of resources there. And of course, a new episode every single day, seven days a week. That's it for today though. My name is Chris Guillebeau, this is "Side Hustle School." [Music]
From the Onward Project.
