Friday, August 31, 2012

6 Must-Answer Questions for Flea Market Vendors

Where are you located?

Don’t get confused here…The question mentioned right above doesn’t refer to your home address. The location that I’m talking about is the location of your flea market. Is the flea market you’re selling your stuff at worth your efforts? Does it have a location? Does it have the potential to bring in many customers? Remember, the better your flea market location is, the more chances you have of making profitable sales.
What’s in your inventory?
When it comes to inventory, you have two choices.  You can either invest in a variety of wholesale lots or sell items in a particular niche-preferably an area you’re knowledgeable about and comfortable with.  For instance, if you don’t want to sell different products like DVDs, equipment, software or watches, you may consider starting a perfume booth.   
What about the cost?
Flea market shoppers are quite aware of how much and where they need to spend. While many are there for a look-around, others are regular customers who’re in search of attractive bargains. Therefore, visiting the market before selling and pricing your merchandise can prove to be highly helpful. Check if there are a number of vendors who are doing the business of the same merchandise that you’re planning to sell. To get a pricing idea, you may even check out eBay. Remember, pricing is one of the most important factors that affect your sales potential. So, price your merchandise wisely as most regular customers will already know if your stuff is reasonably priced.
Thinking to sell movies?
If you’re thinking to sell movies at a flea market, make sure you have the knowledge of this business. From DVDs to Blue-Ray, buyers are interested in movies, particularly the classics and recently-released ones. A cheap way of collecting movies is consulting your friends and relatives. Then, you can start selling your movie collection by selling your stuff at competitive rates. Offers like “Buy 3 and Get One FREE” are a great way of advertising your stuff.
What about home décor stuff or equipment?
Investing in home décor stuff isn’t a bad idea either. Remember, your target market is women who’re usually looking for stuff that fits into their home decorations. Here, pricing the merchandise wisely is just as important as marketing your stuff attractively.  
As for tools like hand tools and/or garden tools, all you need is a well-organized flea market booth.
Are You In the Food Business?
Flea market vendors are often tempted to start their food business. Trust me; this is never a bad idea. Everyone needs food but they only love GOOD food. No doubt, as a food vendor, you can make a great deal of steady cash. But don’t just enter this area because you think it is profitable. If you can’t make people love your food, your booth won’t last long.

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