| MARKET TRADING MEANS
BUSINESS THE OLD OPPORTUNITY THAT'S RIGHT UP TO DATE! You might well have considered market trading already - and decided it's just too old fashioned! But, you would be most certainly wrong. Your local market place is one of the most lucrative places for buying and selling. A really excellent place to launch a new business at a very low cost! The fact remains that a market stall is one of the easiest, most profitable and simplest business ventures there is. Markets have been around 100's of years to prove it! The image of a market stall as a small sideline is now diminishing. It can be a large and lucrative business. In fact, a business which exceeds many larger looking ventures in terms of takings - and profits! If you have previously considered market trading as 'not the business for you', you really ought to think about it again! There are various different forms of market trading you can choose from. All are of the most basic ways of making . money you could think of. And, the simple and uncomplicated ideas are usually best. In this guide, we will discuss the two most lucrative opportunities, either of which can make good full or part time opportunities. It is up to you to choose which is most convenient but both would find it hard to be beaten by any other retail ventures. CASH FROM CAR BOOT SALES One of the most popular ventures in recent years has been the car boot sale. Now almost all these areas have a year round selection of these potentially profitable events. Most are organised by charitable organisations, in all types of location - and you are sure to know of some locally. Whether arranged by charities or not they offer considerable potential for commercial market purposes. Car boot sales are primarily intended for the disposal of household 'junk'. But they are also places where 'proper' market traders can find a good demand. Virtually anything can be sold at such a sale - so give it a try! Perhaps the best use for the car boot sale is learning about the market trade - and making money in the process! You can then move on to bigger and more profitable regular markets if you so wish. A good way of starting is to book your car in at a selection of forthcoming car boot sales. These usually cost no more than œ5 to attend - but you could usually recoup that dozens of times from just one short market. Maybe several hundred pounds in a weekend. In many cases your stock for a car boot sale is otherwise worthless and will cost you nothing. Simply clear out all your household junk and take it along to form your stall! Anything classified as 'junk' sells readily. You can also ask neighbours, friends and relatives for junk. In most cases you will be doing them a service and give you the items free - or you could share the proceeds of anything sold - in your favour. When you sell what you already have it will be necessary to buy stock in to resell. Buy 'job lots' from second hand traders - also look around household effects auctions. One source of new stock is wholesalers - the ones who supply regular market traders. In some circumstances you could perhaps sell home made goods. Food, handicrafts, etc are all possibilities. In some cases a very high proportion of the selling price will be clear profit. Even several hundred percent in many cases! Consider selling anything at a car boot sale. Books, toys, and records of all types are some of the fastest sellers. Interesting ornaments, curios and things in the 'antique' line always attract a lot of curiosity sales at high prices. The only thing you should aim to avoid is clothes. These take a lot of preparation, rarely selling well and at low prices. Don't bother with impressive displays for a car boot sale. Just pile everything into large cardboard boxes for easy transport. If possible make everything in the same box the same price to save individual price labels. When you arrive at a sale place everything on the ground in front of your car - buyers just can't resist a 'rummage' in the hope of finding a bargain! Mark up the prices a little higher than you might think. Most people will then pay that price without question. If someone makes an offer, though, you can accept it and still make a good profit. Never take really low offers though - keep the item for selling at a future sale. You will not need any special selling techniques or 'sales pitch' for an ordinary car boot sale. Good quality items sell themselves - and even low priced items soon build up into treble figure profits. Bearing in mind your overheads are very low this makes an excellent sideline income. Develop a circuit of car boot sales - maybe several per weekend - and you can soon earn a full time income in much less than part time hours! GOING ON TO BIGGER THINGS! A car book sale is an excellent starter business. But, there is of course a limit to the amount of cash you can earn. If you want a truly large income then you should look to a regular market stall or stalls. These can still be part time - at weekends, the odd day off, or a 'housewife' type business. But, they also form the basis of a sound full time business venture - one where you can work and earn each and every day if you wish! Market trading may look like a very basic venture. And, in some ways, it is. But, it can also be a very big business with considerable takings - so don't underestimate it. A little capital is required to start, though this is really a very moderate amount. Two types of market can be identified as being ideal for the would be trader. The very best types are the regular markets run by local councils on a daily or weekly basis. These operate on purpose made sites - or in a busy town centre street and sell a wide variety of goods. You could also consider privately organised markets. A good example of these is the Sunday markets that are held in many towns andcities, often indoors. Choose either, or both, depending on what sort of business you require. And, very importantly, the time you have available to trade. Your first step as a market trader is to look for a venue with good potential. Don't just decide to start and then turn up with goods at your nearest market! Most towns and cities have a variety of public markets and you need to choose the most suitable. Ensure the one you select is 'brisk but not too busy'. Anywhere within a 15 mile radius of your home is a desirable proposition. After a little 'market research' contact the market for your intended sites well in advance. This is usually the local council - or sometimes a commercial organising firm. Ask one of the existing traders if unsure. Get full details of all conditions of obtaining a stall - and details of the rents which might be in the region of œ10+ per day for a single stall unit. Many markets will have a waiting list - so apply to several in good time so you can start at the very earliest opportunity. The organisers will probably want to know what sort of goods you intend to sell - and expect you to stick to that trade. This is important since if there are already enough traders in that particular trade you may need to rethink before you will be accepted. Gather information on your chances of obtaining a stall in your area - and what to sell. You will then be able to make serious enquiries with regard to obtaining stock for your venture. The best way of doing this is to sell the types of things that are already successfully sold at markets. These proven items are invariably best. It doesn't pay to be too different or original. Find your own range of suitable products within one of the existing market trades. Foods, household goods, clothes, second hand items, seconds, fabrics, shoes, pottery, books, toys, jewellery, sweets, spare parts, small electrical items and curios are just some of the many things that are popular market sellers. The choice is so wide it should not be that difficult to find a trade. Whatever it is do ensure it is a single trade - rarely can you successfully mix different types of goods on a single stall. Buying from a wholesaler is the usual and most convenient way of obtaining stock. A range of wholesalers can be found in 'Yellow Pages' in all areas. They all tend to specialise in particular lines, so you may use several. Some will trade by mail order which makes things very convenient. Arrange to visit several to get an idea of how they work - make it clear you are a trader to gain entry. It is also lucrative to buy goods from auctions for some market stalls. Or, buy surplus and bankrupt stocks that are sometimes advertised in newspapers and periodicals. Sometimes perfectly good items can be snapped up for pence but will sell at considerable profits. Manufacturing your own stock is an interesting way of obtaining products. Very little outlay is needed and mark ups can be vast. This is ideal if you have some sort of skill or craft, e.g. jewellery making or home baking. You will need extra time of course. Wherever or however you obtain stocks ensure the price is ultra low and that there is room for a mark up of 300-400%. Remember, in the majority of cases shoppers will expect market stalls to be rather cheaper than even identical items in shops. You must allow for this in your stock purchase price. When market day arrives do ensure you are at the site, with your stock, quite early. In many cases stalls are allocated on a 'first come first served' basis. This will allow you to pick the optimum selling positions - near the front of the market but not too exposed - the weather is one of the few problems! Most market organisers will provide you with some sort of stall structure. So it is rarely necessary to go to the trouble of buying one - or any other sort of equipment. For best sales results a market stall of any kind should be smartly presented. Arrange the counter area to make best use of the space - and arrange stock at different levels. Use a clean and tidy covering cloth. Make use of the space at the sides of the stall - and hang things over the top. Never allow stock to creep onto someone elses area - or allow theirs to do the same to you! Move goods around to form an interesting and ever changing effect. Keep a special place for money and valuable stock lines. Most stalls should clearly price all the goods they have on offer. Rarely should you accept offers for anything as it is 'not done' today. However the advantage of a market stall business is that you can change prices to suit demand and be competitive. Many other businesses could never hope to do this! It is no longer necessary to 'call out your wares', unless you want to, as used to be very popular at one time. A good set of products well presented will sell themselves. Always strive to give a good service and good value and you will be able to establish a lucrative and continuing business. One tip is to make a point of getting to know your fellow traders. They are an important source of help and advice - as you will be to them. Listen to suggestions for new product lines or new wholesale sources. In particular try to get their opinions of other markets in your area. You may well find a market where your stall can do even better than the one you are at. Page 6 Apart from these basics there is little else you will not learn in the running of your stall. Despite humble origins there is certainly nothing humble about a market stall takings. Some market stalls are run by very serious business people who take many thousands of pounds weekly from a circuit of stalls in the area. You may also want to develop a lucrative 'circuit'. TIPS TO GET STARTED You are sure to find that a car boot sale is the very easiest way to get started in the trade. Follow that with a regular market stall, then increasing the number of stalls. Learning as you go is a sure way of reducing risk and outlay to a minimum - but building sound returns. When you first start don't consider a daily market stall on the same site - keep moving round to find the best. And, don't even consider a fixed indoor market stall until you have gained some experience. These are little different from shops and thus can be risky unless you know what you are doing. In the same way avoid antiques or collectors 'flea' markets without some knowledge of the subject. These are certainly markets, and quite lucrative, but do differ in some important ways. The good thing about a regular market is that your profits are virtually guaranteed - and consistent. It is vital to remember NOW that market trading is a business you can start and be well rewarded for. Many market traders are professional experts. But, this does not close the door to newcomers. Successful market trading is a valuable skill - but it can be picked up in basic form very easily. In fact, you are virtually assured of a profit - whether you choose a weekend sideline or a rewarding full time enterprise. |
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