|By: Melanie Schwear|
Flea Market Secrets - Stay Legal
Before starting your own flea market business, make sure you have all necessary permits, business licenses, and resale permits required. If you are selling new merchandise, you will probably need to collect sales tax.
Flea Market Secrets - Location, Location, Location
Different flea market focus on different types of merchandise. Study the ones in your area and try them out. What may sell at one venue will not sell at another.
Flea Market Secrets - Merchandise
Study the market you choose to learn what type of merchandise will be the best seller. Should you focus on high end items like electronics, or inexpensive used clothing, or antiques and collectibles?
Flea Market Secrets - Product Sources
Whatever product you choose, you must find a steady, inexpensive source for it. Research wholesale suppliers and liquidators of overstock and return merchandise.
Flea Market Secrets - Wholesale Research
Forget the middlemen that fill the internet search engines. Go direct to the sources by researching manufacturers. Or use respected wholesale membership groups that find the real wholesalers for you.
Flea Market Secrets - Pricing Tips
Profitable flea market business owners expect to haggle when they sell. Price items at least 25% more than the actual price you want. Customers buy more when you offer an item of interest for less.
Flea Market Secrets - Set Up the Table Right
Create an eye-catching flea market display. Keep everything neat and organized and spread out. Place impulse buy items front and center, and use movement to draw shoppers' eyes.
Flea Market Secrets - Late Day Sales
Whether it is because they do not want to pack up their merchandise, or they are trying to hit a sales goal, flea market vendors should offer late day sales. Price your merchandise so you can offer everything for half off in the last hour you are at the flea market.
Flea Market Secrets - Customer Service
Granted, a flea market is more casual than a store, and repeat customers are less possible, but you still need to give good customer service. Be friendly, always have change, and offer bags for purchased merchandise.
Flea Market Secrets - Treat it Like a Business
These flea market secrets are fine for the casual vendor, but if you want to make real money at the flea market, you have to treat it like a business. You can make a full time income selling merchandise on the weekends.