The Wholesale Forums

[Inferno House]

For many people "eBay" is the obvious solution for online marketplace, but have you ever tried "the marketplace"? Being a market trader myself, i can tell you that it is a great way of creating more sales, clearing out overstock & a great opportunity to create a 3rd party clientele database. Therefore, here are my tips on the market trade:

Getting started:
Before setting up, you should have already done your research & be obtaining your stocks - if not then this should be attended to before even reading on, as this is the most important factor. The last thing you want is to be hitting the marketplace with something that has a "risk factor" of not selling (been there, done that - never again!). This will also give you an idea of the size of stall that you require - no point buying a 14ft x 14ft walk-in stall if your selling pick'n'mix.

Vision your stock, be realistic in stall size required - there are many bargains to be had on eBay, ad mag, local newspapers & at this time of year (weather conditions) you will find many people selling them cheap, so think ahead - buy now, stock it - prepare for "point of sale". Also consider transportation - a van is not always required, as many stalls can be dismantled & fit snug inside your car boot. Alternatively, you might even consider buying a trailer?

Licence Requirement:
Before you approach any market pitches, you need to be insured - the current rate is approx £76 (sole trader) for a years cover & can be purchased from The National Market Traders Federation. link: http://www.nmtf.co.uk/

Hit The Traffic:
Google markets, don't be stuck with your local town center, you need to be sure that your hitting the right people at the right place. It may be worth travelling further afield, i'm in a lucky position of living just 15 mins from Donnington market (hosts of F1, moto GP) attendance figures vary from 9,000 - 15,000 every Sunday & the marketplace is varied, therefore many types of people looking for many types of products. Go to these markets, see for yourself & then make the enquiry for pitch stands. Another i would recommend is Wembley stadium market & Brighton bank holiday market - traveling around is not only a great day out, but will open your eyes to new potential market gaps.

Be Prepared:
Know your directions, arrival times, make a checklist of everything before you leave & don't forget to carry your licence with you! My number 1 rule - "take a friend", nothing worse than needing the toilet & leaving your stocks open to theft. Also it helps with set-up time, preparation, dealing with customers & my favourite> getting the burgers in.

The Hit:
Don't make the mistake of just sitting behind your stall - your there to sell, so make the most of it... I use a headset (purchased from eBay) & demonstrate my goods. Be loud, stand proud & do your best. Something visual also has an impact, i sold bubble swords last summer - kids flocked, huge bubbles drifting in the air... ok so i looked like a prat, 6ft 6 skinhead - tattoos playing with bubble swords, but i walked out there every Sunday sold out & £££ better off which was my intention.

Finally, remember - there are more opportunities than just making money on the day... take business cards, or leaflets - reel the buyers in, they have seen your stock - now offer them with your website / contact details, discount offers - be imaginative & put your heart in it.

Support link: http://www.connexions-direct.com/job...etailedArticle

Hope this helps open your insight to starting trade, thank you for the read.

Best regards,
Steve

[ericfarrow12]

Great Read Steve, Thanks

[Costaconsoles]

Nice work mate. For a while now I have posted replys about how people should look at the market option, too many still think that Ebay will make them a million in 48 hours while they sit on their ass picking their noses. Now more than every markets should be something for the newbie trader to look into. Money is tight, people want bargains and a market is the place to get them...sometimes.

[greedyboy]

When I was a kid I worked the markets (Church Street off Edgware Road and the famous Petticoat Lane). I always wanted to be a market trader but never have actually done it, other than a handful of boot sales.

Still one ambition I need to fulfil.

[ericfarrow12]

Me and my dad are doing carboots and Markets. You can make money on carboots and Markets with the right products. It also gets you out for the day and i enjoy it.

[londonking]

Markets are good old fashion selling. I used to to the East Street Market Nr Waterloo Station, London. Selling silk ties and formal shirts to the young yuppies.

[JGClifton]

Another point to remember.... make sure you record all of your transactions still!

[dynamic]

Nice post Steve

[lighthousedirec]

Another point to remember.... make sure you record all of your transactions still!

All any trader has to do is keep a record of their sales totals and expenditure, no need to record every single transaction. In ten years on the markets I have never heard of one trader being bothered to do more than keep a daily total.

Whilst markets are one avenue too look at, as with most other channels they are not easy to survive on, most markets are a shadow of their former selves. Two markets I used too work are only at 50% compared to three years ago.

Regarding deming, most markets do not allow this, always talk to the market toby first or you will not be welcome.

I used to love the game, good laugh, all cash business so cash flow is very good, but with most town centres suffering from visitors most markets are struggling. Personally i would recommend working smaller gaffs since if you are good almost everyone tends to spend with you, places such as Donnington and Wembley seem great, but a lot of people walk around unable to decide which trader to buy from, and they also have the very high rents.

A good way to gain some experience though for people.

[Inferno House]

Originally Posted by lighthousedirec

All any trader has to do is keep a record of their sales totals and expenditure, no need to record every single transaction. In ten years on the markets I have never heard of one trader being bothered to do more than keep a daily total.

Whilst markets are one avenue too look at, as with most other channels they are not easy to survive on, most markets are a shadow of their former selves. Two markets I used too work are only at 50% compared to three years ago.

Regarding deming, most markets do not allow this, always talk to the market toby first or you will not be welcome.

I used to love the game, good laugh, all cash business so cash flow is very good, but with most town centres suffering from visitors most markets are struggling. Personally i would recommend working smaller gaffs since if you are good almost everyone tends to spend with you, places such as Donnington and Wembley seem great, but a lot of people walk around unable to decide which trader to buy from, and they also have the very high rents.

A good way to gain some experience though for people.

I totally agree with you about markets decreasing throughout the years, however - this is a great way to take a product & offer first hand... Especially if you "hit the sale" in the right way. A laptop (dvd demo) definately catches some attention & the headset / demonstration can only add to the advantages & make you stand out from other "casual" traders.

RC wall climber cars example - list them on eBay, great... but what about those who do not scan eBay for such new products? it's all about research the item - if it sells well, or has good reviews then push it in peoples direction. I just take one out of the box, stand up a flat board & demo away - creates a buzz, crowd & best of all alot more sales than just leaving the item in the box on the table.

PS: the original thread was my 1,000th post so thought i better give it at least some effort