Running a concession stand as a league administrator can potentially be overwhelming, especially if you introduce selling sportswear and team merchandise into the mix. You are not only selling food and drinks, but you’re selling clothing and other items that may carry a steeper price tag than the others.
There are many things to consider, like who is going to manage all of these merchandise sales, what you should sell, and most difficult of all, the pricing of each item.
The pricing of each item can be especially difficult to determine because of the increase in the cost of certain items.
When you’re pricing these items, start off with a list of what you are going to sell, what you are selling it for, and how much you would need to price that item to turn a profit. Here are some tips that can help you when trying to price your sportswear and concession stands items.
Give Your Customers Value, but Make a Profit
A general rule is to charge a little bit above what the item costs for you to produce/make so that you can make a profit. Keep in mind to charge a fair price to your customers, that way they will continue to buy the product. With items that are more complicated (sportswear that includes embroidery or added logos- you need to account for the total cost of the item). If you do not consider the cost of the incidentals, you will not be able to make a profit.
Make Sure the Pricing is Clear and Consistent
It is important to be clear and transparent about the prices, however high or low they might be. Make sure to display the prices clearly, and keep the pricing the same from one event to another. If there is a change in price, be sure to explain why.
Have a Way to Collect Payments
Last but not least, have a unified way to collect your payments for team merchandise. You don’t want to collect the money and have no way of tracking payments and have everything unorganized.
That’s exactly what we do at Pickle Juice. Some of our features include:
- Make your concessions look and feel professional. Create a full inventory of apparel and food items to enable faster checkout, better manage theft/loss, and make more money from your concessions and event sales.
- Accept multiple forms of payment. Fans should be able to pay with their preferred payment method, whether that’s cash, check, or card.
- Offer contactless payment options. Have plenty of touchless options by accepting all popular contactless cards and mobile payments.
- Manage profit and loss with accurate reporting. You should have full visibility into your concessions, including the ability to compare results across events and measure your performance throughout the season.
- Deposit funds directly into a single account. Funds should be deposited directly into your organization’s bank account and you should always know which team and event the money came from.
Dealing with concession stands, how they are run, and the pricing of team merchandise can be difficult, but it doesn’t have to be. Get ahead of your mobile point of sale and get ready for a successful, organized season. You can learn more about our concessions features by clicking here.