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making money - ellen o'hara
Ellen O'Hara, business development manager at Cockpit Arts, shares her five top tips for preparing for your degree show and making money. Ellen talked at Making money from your degree show as part of Preparing for your Degree Show week.
Ellen's top tips
Ellen O'Hara talked about the practicalities of setting up as a self employed person, how to think about costing your work and engaging your audience for your degree show.
1. Self employment Ellen talked about registering with the HMRC. If you are working with a 'view to making a profit', keep all paperwork and records.She said that on completing orders you'd need to create a delivery note for payments upfront and an invoice for future payments.Have 'Terms and Conditions' in your contracts to cover for delivery expectations, returns and exchanges and so on.
2. Pricing should reflect the value of the benefits your work offers, from your customers point of view.She explained the 'cost plus' approach where profit="price-cost". Cost is worked out as your hourly ratex the time it takes you to produce, plus the cost of materials you use.
3. Get organised Think about your display, have cards and any paperwork to hand, get feedback from your potential customers and prepare your response when asked about your work. Most of all – be there!
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