How to Start a Swap Meets Business
Swap meets, also known as flea markets or open air markets, are marketplaces with multiple vendors. Starting a swap meet business offers a fun and profitable venture for first-time entrepreneurs. Start-up costs are low and swap meets attract large crowds of potential buyers. If you enjoy meeting new people, have an eye for acquiring merchandise for re-sale and seek the freedom of being your own boss, a swap meet business can provide a nice supplemental income or grow into a full-time, profitable enterprise.
Other People Are Reading
Things You'll Need
- Federal tax identification number
- State business license
- Local permits
- Business cards and fliers
Instructions
-
-
1
Determine if you wish to start and promote your own event or if you wish to set up a booth or space in an established venue. Operating your own booth, at a location that already draws large traffic, will allow you to see what works and what items sell the best.
-
2
Prepare a business plan with projected expenses for space rental, equipment, licenses, permits and advertising costs. Will you provide booths, table rental or display shelving? Determine the cost and availability of equipment available for rent or purchase. Evaluate and establish realistic business goals. Decide if you will require a loan for your initial inventory.
-
-
3
Choose a business name that is short, memorable and describes your business. Contact your state corporation commission to determine if the name is available for a new business start-up. Determine if you will operate your business as a sole-proprietorship, partnership or corporation.
-
4
Contact the U.S. Department of Internal Revenue to secure a federal tax identification number. Obtain a state business license and determine if any additional permits or licenses are required in your locale.
-
5
Determine where you will host your swap meets. Many cities have designated areas or parks available for rent. Contact county and state fairgrounds for space for rent for your proposed event. Review the dates and locations of other swap meets in your area so that you can schedule times and sites that will not be in conflict with other local festivals, swap meets or flea markets.
-
6
Prepare and print business cards and fliers. Visit flea markets, craft fairs and local events to contact potential vendors.
-
1
