IT
CAN BE BIG BUSINESS!
It
might seem one of the most boring and unoriginal business ventures
for
years. Your local market is such an obvious place for buying and
selling
a wide range of goods. Not much money there you may well think!
But
anyone thinking this would be quite wrong.
A market stall is one
of
the easiest, most profitable and best simple business opportunities
there
is. The image of it as a small side-line
venture is diminishing.
It
can be a large and lucrative business - and a business which can
exceed
many more prosperous looking ventures.
If you have previously
thought
of market trading as 'not the business for you', you really
should
think about it again!
There
are various different forms of market trading.
All are one of
the
most basic ways of making money you could think of. And, simple,
uncomplicated
ideas are often best. Here we consider
two of the
most
lucrative opportunities and either can be adapted for full or
part
time use. Choose which is most
convenient! - Both would find
it
hard to be beaten by other businesses.
SELLING
FROM THE CAR
One
of our most popular and fastest growing ventures in recent years
has
been the car boot sale. These are
organised as charity or commerical
ventures
throughout the country, at all times of the year and in all
types
of locations. There are sure to be
many near you!
Although
car boot sales are good places to sell your household junk
they
are also good places for market traders to sell for large profits.
You
can sell virtually anything - even junk sells for good profits.
A
car boot sale in an excellent way of learning about market trading
(and
making money in the process) before moving on to bigger and more
profitable
regular market sites. A good way of
starting in this
business
is to book your car in at half a dozen forthcoming car boot
sales. These rarely cost more than £5 per time, and
you could easily
take
up to £150 in a weekend (two markets).
In
many cases your stock for a car boot sale will cost you nothing.
Simply
clear out all your household junk and take in to sell. This
sort
of thing sells readily. You can also ask
neighbours and friends
or
relatives for junk. In most cases you
will be doing them a service
and
they will not expect a share of the selling price.
When
you sell your own junk you can buy it in to resell. Buy 'job lots'
From
second hand shops. Look around local
household effects auctions.
You
can also buy from wholesalers - especially those who specialise in
supplying
regular market traders. Home made goods
sell well. Food,
crafts
and paintings/drawings are good examples of this sort of thing.
In
some cases all the selling price of your goods will be profit - it
will
be several HUNDRED percent at the very least.
Most
things will sell well at a car boot sale.
Books, records and toys
are
especially good, fast sellers.
Interesting ornaments, curios and
semi-antiques
always attract a lot of curiosity sales.
The only think
you
should really avoid is clothes, they will rarely sell well.
You
don't need impressive displays for a car boot sale. Simply pile
everything
into large boxes for easy transportation. everything in
each
box should be the same price which saves individual pricing.
When
you arrive place the boxes on the ground in front of your
car
- buyers love to rummage for a bargain!
Mark
prices up a little higher than you would expect. Many people
will
pay the amount asked without question.
If someone makes an offer
you
can still accept it and make a good profit.
But, don't give
anything
away - keep it for sale at a future event.
You
don't need any special selling techniques or 'sales pitch' for a
car
boot sale. Good quality junk sells
itself. You can easily clock
up
takings of $70+ for a days car boot sale.
Bearing in mind you
will
have very little in the way of overheads this is an excellent
income. Develop a circuit of boot sales - 2 per
weekend and you
can
soon obtain a full time monthly income in less than part time hours!
BIGGER
BUSINESS - MORE MONEY!
A
car boot sale is all very well, but there is a limit to the amount
of
money you can make. If you want to earn
even larger incomes you
really
do need to look towards a regular market stall.
This can still
be
part time - at weekends, the odd day off from work, or as a
'housewife'
business. But, it makes an excellent
enture for a full
time
business - working and earning every day if you like.
Market
trading may look like a simple venture.
In some ways it is.
But,
it can also be a very big business with large takings involved
even
though little capital is needed to start.
Don't under estimate it!
Two
types of market are particularly suitable for the intending trader.
Probably
the best type is the regular (daily, weekly etc.) markets
that
are run by the local council. These
often operate on purpose
made
sites and sell all manner of goods. You
can also trade in private
markets. A particularly good example of these are the
Sunday markets,
that
are held in many towns. Choose either,
or both, depending on
the
sort of business required, and the time you have available.
When
starting as a market trader you must first look for a market
with
good potential - don't buy goods and then just turn up at your
local
site! Most towns and cities have a
variety of market sites.
When
starting choose one where business is brisk, but not too busy.
Anywhere
within a 15 mile radius is most lucrative.
When
you have located a suitable market, contact the market organiser.
This
is usually the local council or a commercial firm - ask one of
the
existing traders who exactly. Contact
the organiser for details
of
rents which are normally around £10 per day, per single stall unit.
The
vast majority of markets will have a stall waiting list - so apply
straight
away so you can start as soon as possible.
You will probably
need
to declare some details of the type of goods you intend to sell.
This
is important, since if there are already too many similar stalls,
you
will not be allowed to start.
Gather
information on your chances of getting a market stall in the
surrounding
area. You can then proceed to tracking
down supplies to
sell
on your stall. The best way of doing
this is to sell the same
types
of goods that market traders already sell.
These proven items
are
usually best, and it doesn't pay to be too different. Find an
original
range of products within one of the accepted market trades.
Food,
household goods, clothes, second hand goods, seconds, fabrics,
shoes,
crockery, books, toys, jewellery, sweets, small electrical
items
and curios are amongst the many things that are popular sellers
on
markets. It should not be too difficult
to find a trade. All
your
goods should be on the same lines - for example, don't sell
vegetables
and books on the same stall!
Buying
from wholesalers is usually the best way of getting goods for
a
market stall. A good range of wholeale
outlets will be found in
all
areas. They all tend to specialise and
some will even trade by
mail
order. You should arrange to visit
several to get an idea of
how
they work.
You
can also buy goods from auction for market stalls. Or, buy
surplus
and bankrupt stocks, that you sometimes see advertised in
newspapers. These can be bought for pence, but will often
sell at
reasonable
prices.
Making
products yourself is a very lucrative way of obtaining your
products. Very little outlay is needed and your profits
can be huge.
This
is ideal if you have some sort of skill or craft you can use.
Jewellery
making or home made cakes is a good example of this.
Wherever,
or however you obtain stocks make sure the purchase price
is
very low, and there is ample room for a mark up of 300-400%!
Remember
that shoppers expect market stalls to be cheaper than shops,
so
you must allow for this in your purchase price.
When
market day arrives you must make sure you are at the site with
your
stock quite early. Sometimes stalls are
allocated on a first
come
- first served basis. This will give you
the pick of the best
positions
- near the front of the market, but not too exposed in
case
of bad weather! Most markets provide you
with some sort of
stall
structure. So don't go to the trouble of
buying one when you start.
A
market stall should always be attractively set up. Use a colourful
cloth
and arrange items at different heights.
Hang items over the
stall
where possible, so that you use every inch of the available
space. Move things around as they are sold to create
a changing
effect. Keep any valuable items and your money well in
sight.
Goods
for sale should always be carefully priced.
And, you should
not
generally accept offers for anything or 'haggle'! But, the
great
advantage is that you can change prices to suit demand.
You
don't need to 'call out your wares' as some traders still do.
A
good set of products will sell themselves.
Always try to give
a
good service and good value, and you will be able to establish a
lucrative
and constant business.
Make
a point of getting to know your fellow traders.
They are an
important
source of help and advice. Listen to
their suggestions
for
new product lines or wholesale sources.
In particular, get
their
opinions of other markets in your area that may suit your
stall
even better than the one you are at.
Apart
from these basics there is little else you cannot learn whilst
running your stall.
Despite humble origins there is nothing humble
about
your takings. Some market stalls are run
by very serious
business
people who take many thousands of pounds per week, from a
round
of stalls in the area!
OTHER
MARKET MATTERS
Without
doubt, a car boot sale followed by a regular market is the
best
and most profitable way to start in the business. You really
cannot
go wrong by following the simple guidelines.
When
you first start, don't consider a daily market stall at the
same
location - keep moving around. And,
don't try a permanent
indoor
market stall until you have some experience.
These are a
little
different to shops, and can be risky propositions without
some
experience. In the same way, don't go in
for antiques or
collectors
markets, unless you have some skill in this direction.
Yes
- these are markets, but this is where the similarity ends!
Profits
can be huge, but are nowhere near as guaranteed as with
the
markets we have mentioned.
It
is important to remember, that market trading is a business
YOU
can start. Many market traders are
professional experts, but
this
does not mean newcomers cannot start - and easily. Successful
market
trading is a skill that can be picked up in basic form very
quickly. You are virtually assured of profit - whether
as a weekend
side-line
or even a rewarding full time business.
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