THE CHALLENGE
You’re A Maker. . .We get that! We’re Makers too!
Opening your very own store is your dream but it’s not easy to do alone. Finding affordable retail space in a good area is almost impossible. If you solve that, your next challenge is balancing customer time with running the business and still finding time to be inspired and make enough creative products to keep the business going. Not to mention you’d probably like to have a life outside of the business.
It’s not impossible. . .but it’s not easy either!
THE ISM OPPORTUNITY
That’s where we come in. . .At Indie Style Market – Our Business is Your Business!
We exist to be the retail face for your indie brand in Memphis. Whether you sell online, at craft shows, or to other stores. We think that Indie Style Market offers you – The Maker – the best opportunity to grow your business.
The vision for the retail part of the business is to be the Whole Foods for indie products. Not just one jewelry or bath & body products indie brand but several. Variety is the spice of life and our goal is to be a store where everyone can find just the right indie brand that suits their fancy. We provide the framework - the space, store fixtures, signage, POS, packaging - while the indie design community provides the products.
When you think about ISM, don't think craft mall with individual displays think gift shop! The booth layout works well for craft shows and festivals which last only a day or two. Our goal is to be around for at least the next 10 years so we must create a customer-centric layout with like-products together - sometimes on the same fixture.
Take Mavis, a busy mother of two who works full-time and who stops by the shop on her way home to pickup a birthday gift for her Mom. She wants to buy her a handbag. Which do you think she would prefer? Wandering around the store for 30 minutes looking at the individual displays of each of the 5 handbag brands we carry -or- going right to the handbag section and seeing the work of all 5 in one place?
To help you envision what ISM will be, here are some stores doing something similar:
WHAT WE'RE LOOKING FOR
We're looking for retail-ready brands. What does "retail-ready" mean? Great Question!
- Established - You have past craft/retail sales proving that Midsouth consumers will buy your products
- Products are professionally packaged and labeled with a clear brand identity/logo
- Existing website, facebook page, or online store selling your products
- You have run the numbers and priced your products for retail
More on pricing. . .in our years of doing craft shows we've learned that as much as makers love the art of making things, most will quit after they discover that they're not really making any money. That means that the world will be deprived of the unique products that they give to us. We don't want that to happen to anyone so we need to know that you have priced your products to ensure that you get paid enough to keep making them.
Priced for retail means that you have taken into account your desired profit and AND the amount a store will ask in exchange for selling your product through their store. Normal retail consignment splits are 40% - 60%. NOTE: If you're not sure about pricing here's some info from our friends at Etsy that will help you figure it all out - Click Here!
From a style perspective, ISM is more Target than Walmart so we're looking for products that are both functional and lovely! Click Here to see more of what we mean.
If you have a new product that you're not quite sure about yet, we invite you to apply to be part of our business incubator program. Our team has over 10 years of experience selling handmade products and we have a pretty good eye for what will sell. We would be glad to help you become retail-ready.
BENEFITS FOR MEMBERS
- A fun, artsy, innovative retail outpost for your brand in the Broad Ave Arts District
- Introduce your products to new local customers and to visitors to our fair city
- A barcode-based inventory management system for easy checkout
- Time. . .while we're hard at work selling your products you gain valuable time to make more stuff or spend time with your family
- Cash. . .Get paid each month for your sold items
- Less hassle. . .ISM will have centralized checkout, accept credit cards, and will collect and remit all sales tax
- Information. . .Know exactly what you sold with a weekly sales report
- Network with other makers who support your entrepreneurial vision
- Marketing and social networking support for your brand by being associated with ISM
- Use of the ISM space to meet with clients, host a trunk show, or other special event
RATES (monthly)
5 ft. Clothing Rack
5
$150
$128
4-Arm Rack Black Straight Arm (48”)
SOLD OUT
$125
$106
2-Arm Rack (24”)
5
$100
$85
Single Shelf on Bookcase - 31" wide x 15 3/8 deep, height will vary. (NOTE: Can lease more than 1)
90
$75
$64
Single-Sided Grid Panel on Tri-Panel Fixture
9
$125
$106
Two-Sided Grid Panel (free-standing with legs)
6
$175
$149
29.5” x 29.5” Square Table
SOLD OUT
$125
$106
Wall Space for Art
Approximately 2ft wide x 6 ft tall
6
$100
$85
TERMS
- Grand Opening targeted for June 2013
- Initial lease term is 6 months
- All fees are due by the 1st day of each month. There will be a $25 late fee assessed if fees are paid after the 1st
- To get the Rate + Work, you must work 8 hours the previous month. This can be a single 8 hour shift or split up
- Checks will be distributed monthly for all sales made the previous month
- Each designer is responsible for providing ISM an Excel inventory file that we will import into the ShopKeep POS. A template will be provided for you to create this file.
- All rates include a 20% commission on all sales over a break-even point which is equal to your lease amount. The table below gives examples:
Next Steps
The team will review each application to ensure that the products are a good fit for the shop. We will let you know within two weeks if you're accepted. Once accepted you must pay your first month's fees via PayPal (info@indiestylemarket.net). Failure to pay these fees will forfeit your spot and we will give it to the next person on the list.
