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 and
cities,
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.
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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