Costs of Doing Big Shows

Cougar1978

With all the fantastic discussion of shows and happy faces in the photos, especially the big ones like Long Beach and Central States I have to get some take on costs of attending these (air fare, table fee, hotel, rental car, meals, etc) vs Revenue, Gross Margin, and benefit of good buys. Do you have a standard cost / budget number? I have heard 2000-3500 assuming just one person.

From an accounting perspective I try to allocate these overhead costs against selling expense and inventory (purchases) based on the relative activities. Irregardless, the total cost of such a show is a big hole to start off in before you have sold a single coin or banknote let alone made positive P&L.

What do you consider a good ballpark number for an out of town dealer setting up at Long Beach or Central States (total costs) and while I have my own ideas, experience what are some of yours. Do you ever come away from one of these in the red? At a recent show, I was a bit horrified when a dealer at a neighboring table said he lost money big time going to Long Beach. Certainly if the people are not buying or have anything to sell at a decent price I can see how this can happen, but a big show like Long Beach?

COALPORTER

I just go as a customer to Long Beach and it cost about a grand to do so for two days.
That is for air fare and hotels. I don't really count food because you eat anyway .

chumley

just check out Charmys report...a steak will cost ya $40-$50 bucks...of course if you follow her to the gaming tables she always finds...that may turn out to be chump change

amwldcoin

I think the least I have ever spent doing a major show is 2K+. I don't do shows I can not drive to in 1 day...stopped flying years ago!

Tookybandit

I do trade shows (different industry) and our 10'x20' booth is almost $3,000 not including any of our other expenses.

MilesWaits

<< <i>just check out Charmys report...a steak will cost ya $40-$50 bucks...of course if you follow her to the gaming tables she always finds...that may turn out to be chump change >>



Hey, I resemble that observation!

Just because I have an addiction with coins does not mean it's necessary to keep all my other vices, like my love of fatty foods & gambling, under that type of 'strict' control.

CoinRaritiesOnline

The cost of airfare from your location, and hotel, rental car, cab, meals, etc. in the show location are all either readily available online or easily estimatable based on where you want to stay / eat / go, etc. Some dealers drive to shows - even long distances - others fly first class. Some people eat (and drink!) very, very well, others spend as little as possible.

The cost of a table is easy to figure out too - just ask the show organizer. It varies by location on the bourse floor of course, subject to availability.

In other words, it depends, but you can construct a very accurate estimate in a few minutes on your own based on your location and preferences.

ArizonaJack

Hot sauce conventions cost about the same except your shipping pallets of sauce and your product sells for $5. Coin shows much more easy on the wallet.
I do Long Beach for $200 in gas plus lodging. Have never set up there but do remember an $800 dinner tab once ;-)

Cougar1978

With airfare, hotel, rental car, table fee its easily 2500 for me for a Long Beach setup and that is a conservative estimate. After the show I need to unwind so I might go somewhere like Imperial Theatre in Anaheim or Spearmint Rhino in Torrance to combine show with another hobby and there goes another 200-300. While operating a coin business online costs so much less there is nothing like the thrill of deals on the bourse and finding a nice coin at the show really want like a CC Double Eagle.

After a day of show food and then dining out after the show the show circuit can add a few pounds too. So as a regimen and since I am no longer running I have to have something light in the evening, no big steak and loaded potato for me.

When I am buried in a big show with big overhead costs I try to allocate the costs based on activity (sales - selling expense, purchases- inventory cost) to spread the hit at least for financial reporting (tax is different).

WTCG

Everybody knows about expenses like table fees and airfare, but there are other expenses that might not be obvious to a coin show layman, expenses such as safe rental fees, inventory transportation costs, etc.

As for the other stuff like lodging, dining and entertainment, everybody has different sized budgets and different levels of tolerance. Some dealers will literally share a room with four other dealers while sleeping in shifts and only eating when absolutely necessary and only at fast food places in an attempt of keeping costs down as low as physically possible. Other dealers feel they have to maintain a lifestyle standard and believe they are obligated to spend at least $300 or more every night on dinner. Others lose sleep over losing $20 on one coin but after hours won't flinch at spending $800 or more in one night at a strip club. I personally know dealers who fit the examples I've mentioned. It all depends on each persons' preferences.

ambro51

.......and, after all this, they "leave early".

EXOJUNKIE

Great thread! Thanks to the dealers for posting their insights/experiences!

PTVETTER

I did the FUN show and I think the expenses were about $3000.00.

I did drive from the north straight thru the Orlando. (15 hours)

ricko

All depends on one's business model - for many, it is a wash financially and the benefit is getting away for a couple of days and having fun, while the potential of making money is still there. Others treat it much more stringently - they are easy to spot. Cheers, RickO

bigjpst

I'm a relative newb to setting up at shows, and stay local for now. Long beach is my biggest show, but because I share a table with another member here on the forum, it works out to pretty much the same per day as a local small show. My inventory is small, and I usually just cover the show expenses. I live in So Cal, and drive home every night, but usually go out to eat afterwards at one of the less expensive restaurants near the convention center. I will continue to do it as long as my table mate is willing to share a table because it allows me to buy new inventory for my online sales from the general public, and from the vest pocket dealers walking the floor. I hope to be able to travel to the bigger shows across the country in the future, but right now, I doubt I could justify the cost.

291fifth

<< <i>.......and, after all this, they "leave early". >>



I only set up once at a major show. My sales:

Set up night: 45% (all sales to dealers) (Thursday)

Day one: 45% (most sales to dealers) (Friday)

Day two: 10% (most sales to dealers) (Saturday)

Day three: None (Sunday)

TireKicker

<< <i>just check out Charmys report...a steak will cost ya $40-$50 bucks...of course if you follow her to the gaming tables she always finds...that may turn out to be chump change >>



Not to mention all the wine purchases

TireKicker

<< <i>Everybody knows about expenses like table fees and airfare, but there are other expenses that might not be obvious to a coin show layman, expenses such as safe rental fees, inventory transportation costs, etc.

As for the other stuff like lodging, dining and entertainment, everybody has different sized budgets and different levels of tolerance. Some dealers will literally share a room with four other dealers while sleeping in shifts and only eating when absolutely necessary and only at fast food places in an attempt of keeping costs down as low as physically possible. Other dealers feel they have to maintain a lifestyle standard and believe they are obligated to spend at least $300 or more every night on dinner. Others lose sleep over losing $20 on one coin but after hours won't flinch at spending $800 or more in one night at a strip club. I personally know dealers who fit the examples I've mentioned. It all depends on each persons' preferences. >>




Great insight Wei. Thank you!

BAJJERFAN

Anyone care to guess what % of the dealers at a major show sell $100K or more worth of coins, etc.

NebuchadnezzarTheGreat

<< <i>Everybody knows about expenses like table fees and airfare, but there are other expenses that might not be obvious to a coin show layman, expenses such as safe rental fees, inventory transportation costs, etc.

As for the other stuff like lodging, dining and entertainment, everybody has different sized budgets and different levels of tolerance. Some dealers will literally share a room with four other dealers while sleeping in shifts and only eating when absolutely necessary and only at fast food places in an attempt of keeping costs down as low as physically possible. Other dealers feel they have to maintain a lifestyle standard and believe they are obligated to spend at least $300 or more every night on dinner. Others lose sleep over losing $20 on one coin but after hours won't flinch at spending $800 or more in one night at a strip club. I personally know dealers who fit the examples I've mentioned. It all depends on each persons' preferences. >>



I just hope that the dealers who are 4 in a room take a shower!