Posts Tagged ‘fleamarketlistings.com’
How To Start Selling at Flea Markets
Monday, October 1st, 2007
Flea markets give sellers an unlimited income potential, while not limiting them to one product or sector of sales. Where else can you find a gallon bag of baseball cards for a dollar, an antique clock for three dollars, and all the stuffed animals you could want thrown in for good measure? Flea market sales have found a niche, and you can have a piece of the pie. Unlike other retail sales businesses, working a flea market doesn’t involve a large startup cost. In fact, crafters and others who can make their own products can begin right away.
There is no “flea-market template” that can guarantee success, but if you follow the steps below for starting a business selling at flea markets, your road to profit will be less bumpy; remember, though, that the time you put into this venture is going to directly relate to how much you will make.
Step One: Find a place to sell
This will involve making some phone calls and looking in the local paper. Most flea markets advertise in the community classifieds; but you can even look online for flea market directories (like FleaMarketListings.com ). Call around for the best rates, and visit the flea markets before you decide to rent a booth. Check out the other merchandise offered at the flea markets you visit to see if your product line would sell. If one flea market is over-saturated with your product or its direct competition, try another.
Consider all of the angles. An indoor flea market is ideal if your merchandise is easily damaged, since the elements can take their toll quickly. Ask if the flea market can be locked up after hours, or if it has storage facilities for vendor use. Once you’ve found that perfect flea market, try to find the best booth possible. If there are tables open that are in the middle of the building, pick one of those, since they historically see more traffic. Pay for a year up front and you’ll have a better chance of getting one of the good spots, although trying to move into an established flea market might require some waiting as seniority dictates.
Step Two: Obtain the proper selling license(s)
What kind of license you’ll need depends on where you are located. Some states require you to get an occupational license, while others permit sales with a reseller’s license. Still others don’t require a license at all for flea markets. The best thing to do is check with your state’s Small Business Administration office.
Step Three: Build your inventory
To create inventory, visit yard sales, auctions, estate sales and other public sales that you can fit into your schedule. Try to be one of the last folks to visit a yard sale and volunteer to purchase the remainder of their sales items for a small discount. Many people will simply give you their leftovers, just to save the hassle of having to move everything. Don’t forget to see if friends and family have anything to donate.
If you want to add homemade products to your inventory, you can display your own creations or put a classified in the local paper for crafters. You can also purchase new merchandise to display through wholesale websites, but don’t buy until you have checked on the viability and legitimacy of a wholesale business. Bulletin boards and forums often have posts from people willing to give stuff away or sell it for next to nothing. Finally, websites like Liquidation.com and Overstock.com specialize in selling surplus and bulk products.
Step Four: Attract attention
So, you have a good booth, good merchandise, and a great attitude. Now it’s time to attract the customers you deserve. Clean your merchandise, polish or paint it if need be, or fix small problems. If your products are already in good shape, arrange them in an attractive manner.
Put yourself in your customer’s shoes. If you sell food, offer a variety of packaging options, including individual servings and family sizes. If you really want to attract people to your booth, and the flea market doesn’t have a policy against vendors selling edible items, offer free food or samples of your food products. This is guaranteed to bring hungry shoppers to your booth.
If you sell electronics, try to provide an outlet that shoppers can use to test electrical items. Customers will appreciate the gesture, and you just might make a sale that you wouldn’t otherwise have made. Finally, don’t cram two tables worth of merchandise onto one table. Although some shoppers like to rummage through unmarked boxes of merchandise, most are trying to find particular items. If you keep neat, organized rows of tables and clearly priced items, people can see if there’s a reason to linger at your booth. Hopefully, they’ll at least stay for a cookie or some warm conversation.
Tags: building inventory, flea markets, fleamarketlistings.com, jennifer ratliff, Liquidation.com, overstock.com, small business, Starting a Business
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