Most of my festivals are 1 day events, all are local. For me at this point in my life traveling long distances and being away from home overnight just isn't possible. I have found I really like the 1 day events, if it's nice not too hot no chance of rain I don't even put up a canopy. I use an ez-up when I do use one and I weigh it down really well.
I kind of have a formula that I use to decide whether I return to a festival after the first time. My examples are all for 1 day local festivals which means no hotels, bring a bag lunch from home, only a couple gallons of gas at most, free parking, can walk there from home, etc. My only expenses are fees, materials and what I pay myself. If I make less than $250 I won't do it again. If I make $250-$350 I will give it another shot, this is especially true if there are other factors like weather that I think contributed to the low amount. When I reach $350 it goes into the lets try this again and see if my sales increase as people learn to look for me there. Anything over $500 is a definite do again. When I reach the $1000 mark it's skipping home clapping my hands in glee hugging the festival promoting on the way out. I have had a few $1000+ one day shows but around here with the average attendance of less than 3000 people I usually do between $500 and $750. I have had a couple that even though the sales were low, under $300, but I did get a large custom order from, that was delivered and paid for later, that I will do again since the custom order shows that there IS money to be had at the venue.
You have to kind of decide for yourself what your comfort level is and what amount makes it worth it for you to do it.
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