5 Tips for Handling Cash at Craft Shows – Protecting Your Profits
Most crafters who regularly travel to craft shows have modern equipment that allows them to accept credit and debit cards on site. This equipment is now more affordable than it used to be. At one time, the tradesman relied on working with cash at trade shows or accepting checks, which was risky with no way to verify whether the checks were good or not.
If the check isn’t good, you won’t know until you deposit it or try to cash it, which will be after the craft show is over and the customer has long walked away with the goods. As much as you hate to think the worst about a customer, unfortunately this scenario has happened more than once.
You may find yourself having to handle cash at craft shows, and you should always be prepared to do so because not everyone pays with credit or debit cards or checks. Some people just like to pay cash.
#1 – Beware of large bills – funny thing about counterfeiters. Some of them attract a lot of attention to themselves with the help of “big accounts”. On the other hand, others are smarter and stick to 5, 10, and 20. The counterfeit pen is a good idea, but it’s not guaranteed to work 100% of the time. Learn what to look for in counterfeit banknotes.
#2 – Working with cash – you might think that a lockable cash box is a great idea for your craft booth funds. A lockbox is a good idea, but not if it’s not secured so someone can pick it up and run off with it. A thief will be able to pick the lock and get into your box after grabbing it and running back to their car or home with it.
If you use a piggy bank, you must chain it and secure it in the room. This should not be a “cash and carry” type of setup.
Some artisans keep their money with them at all times by using a money belt. Whatever method you choose to store your money, make sure it is safe, secure and not easily removed from the premises. Never leave money unattended in your craft booth.
#3 – Funding Kitty – the day before each craft show, cash a check to fund your cash kitty. Have the bank teller give you some 1’s, 5’s, 10’s and some 20’s. You should be able to make change if needed for the first few customers of the day. Your kitty will then build up from sales, hopefully, and your stock of bills and change will grow, making it easier to make even more change.
In the event that you cannot make change for a customer, you will usually find other vendors willing to help you by taking some of your larger bills in exchange for smaller ones.
#4 – Accepting checks – if you do not have a way to process checks locally, it is recommended that you do not accept them. Put a simple sign in your cash register that says “Sorry, no checks” or something similar.
#5 – Hide the excess – if you have a big day of sales and a lot of the money is in cash, at some point during the day you may want to move some of the money to your car or other safe and secure storage.
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