Band Fund Thursday #4: Pricing Your Band Merchandise

The point of having a band fund is to gain money, keep track of it, and eventually spend that money so all the individual band members do not have to keep putting their own personal money into band expenses. Eventually, you want to build your band fund with income received through your band activities, mainly your band merchandise.

Band Merchandise includes everything from band t-shirts, band posters, cds, eps, demos, stickers, buttons, patches, coffee mugs, and hats. Most band members do not have a degree in marketing or have a strong notion of how to price their merchandise, however a little common sense can go a long way.

One thing I learned early on in my band merchandising days is that it helps to have merchandise at all price points. Even if the kids at a show only have a few bucks you want them to be able to afford some token of your performance. Having full color double sided hoodies is great, but few kids will be able to drop the $20.00 to $30.00 that you have to charge to break even. For some fans even the $10.00 CD is out of their price range. Always make sure you have your "stimulus package" items. You can sell buttons for $0.50 or two for $1.00, patches for a $1.00, and you can even give stickers away for free. Plus, when you start small you can always try to up sell your fans, package some items together, and make special deals.

Whatever pricing the band decides on should be a band decision. CDs should not be $8.00 from the drummer while the bassist is selling them for $6.00. Consistency is important. But, if you are a band on the road I do realize that it is better to sell a CD for $5.00 and to be able to afford a gallon of gas then it is to walk away with nothing. At the very least never sell below the cost of production, but you have to do what you have to do to fill the gas tank. Always remember to keep a good sized donation jar out on the merch table as well!