Merch is probably one of the best ways a musician can make money. You can buy a custom shirt for about $5 and sell it for$20. Same with CDs, when you break it down, you pay about $3 for a packaged CD and you can sell it from $10-20. Merch makes about a 200% profit, so why not sell more of it?! It’s really a no brainer. Once you have an online store for your fans to get all of your latest swag, let’s figure out how to sell more of it!
Make sure that you set up discounts on your merch. The holidays are always a perfect excuse to cut your profit margin, while allowing your fans to feel like they are getting a steal. During the summer time, offer discounts on your long sleeved items. During the winter, offer discounts on hats, tanks and t-shirts. Any holiday coming up, offer a slight discount. We all know that people are more inclined to buy something when it is on sale.
When you have an online store, offer certain items as online exclusive, things (that for the moment) you can’t buy at a gig. Or offer a small something for free that you can only get when you buy a shirt online. Also, try running limited addition merch for you online store. This will make people act fast, knowing it will never be made again. A true fan will have to have what other people may not be able to get!
Try the bundle!! Make your own bundle, so you can still control your profit. Get a CD, Shirt, Button and Sticker for $25. Your fans are getting 4 items and you’re still making a good profit while getting your CD sold, and your name out their via stickers and shirts. It works great especially when you are trying to make room for all of your new gear.
Think smart and offer some sweet ass deals to your fans when they shop online!