Well, I came to the Big windy city with high hopes to sell a whole mess of
The Original PaceWheel and set in motion the dynamo of an automatic money-maker that would drive me almost directly to being a thousandaire.
Costs for the 2-day Bank of America Shamrock Shuffle Health and Fitness Expo break down about so:
10' x 10' booth rental - $1200
Itinerant merchant license - $25
500W Electrical Power Outlet - $85
3 days of parking at Navy Pier - $39
Car Rental - $150
Meals - $150
Inventory (PaceWheels, Flyers, Brochures, etc.) - $2650
Plane Tickets - $370
Business Insurance Policy - $379
iPod for Giveaway - $52
Banners & Banner stands - $135
Oversized Display PaceWheel - $35
Custom-embroidered shirts and hats - $66
Miscellaneous supplies - $35
Car Rental Gas: $45
Total Cost: $5416
Traffic was light most of Friday, and we sold 25 wheels. I was pretty disappointed. I thought "What have I done?" PaceWheel, LLC had just broken even last month, and I was getting ready to pay myself a share of the profits when we hit a big positive round number (student loan payments started again as my Master's Degree deferment expired). But we re-invested the money we'd made into the Chicago show.
Saturday was better. We had lots more traffic, but we sold just 36 wheels directly to runners. But people were listening and asking questions that indicated they actually understood what it was for and how they would benefit from it.
At slow times, Joel (Stephanie's cousin from PA and a Triathlete) would watch the booth, and I'd go hit up Running Stores' booths. I showed the PaceWheel to the owner of one store in Naperville, IL and he said "You have inventory here? I'll take two dozen." Then he introduced me to the owner of another store and said "This guy has something to show you that you are going to carry." He took a dozen. 5 other Chicago-area running-specialty stores are looking at carrying it.
Then, a guy I'd been talking to all weekend introduced me to the head of training for WorldVision's (the Christian humanitarian organization) Chicago Marathon team. He bought a dozen to help his coaches' train their athletes. PaceWheel is now an official sponsor of Team WorldVision Chicago! The guy who introduced me also works with an Autism research foundation which is also raising money by training athletes for its team, and he wants to partner with PaceWheel
and he's going to connect me with a guy who developed the PaceTat, a temporary tattoo that has Marathon mile split times for your goal. Last year he was at the expo, and he got connected with Saturn!
I also made a connection with the head of coaching for the Chicago Area Runners' Association, and he's interested in possibly ordering PaceWheels to be a giveaway for an upcoming run or series rather than or in addition to a t-shirt (how many t-shirts does one person really need?).
Lots of other contacts came out of the trip, too.
PaceWheels Sold: 109
Money Received: $1276.75 (assuming all the credit cards clear)
Deficit: $4149.25
I had hoped to sell 400 PaceWheels and that we would at least break even, but the networking will really be quite valuable.
We'll see what happens. Did I mention the guy from the Naperville store is also on the board of the Independent Running Retailers Association? They've got an annual convention he said I should go to. PLUS he asked me if he could be the exclusive vendor of the PaceWheel at the Chicago Marathon Expo! I'm excited even though I'm back in the hole.