How to Run a Flea Market Business
Attend various flea markets in your area. Find out what products sell the best. Look around to see how people price and display their products. Make a list of products that you want to sell. Consider selling items that you find at garage sales, according to Atouchofbusiness.com. Find a wholesale or manufacturer supplier if you want to select your own line of flea market products. Buy your products at the lowest possible cost so you can earn more per sale.
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Things You'll Need
- Vendor's license
- DBA name
- Wholesale or manufacturer supplier
- Flea market booth
- Table linens
- Promotional signs
- Products
- Price lists
- Shopping bags
- Money box
Instructions
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Apply for a vendor's license through your county administration office or city hall. Register your business name as a DBA (doing business as) at these offices.
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Select the flea market establishments in which you want to display your products. Ask the flea market managers or owners what hours they are open. Plan to work full time at one or more flea markets. Pay the fee for your booth or flea market space.
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Order a variety of products from your franchiser, wholesaler or manufacturer supplier. Price your products according to the suggested retail prices of your supplier.
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Arrive early each day at the flea market. Set up your tables, table linens, chairs, promotional signs, products and price lists. Group your products by product type if you sell a variety of wares. Answer any questions your customers ask about your products. Try to sell your customers multiple products. Tell a customer that all scented candles fit a particular sconce, for example, if you sell such items.
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Operate your flea market on a cash-only basis, unless you have a merchant account or have access to a credit card processor. Provide all your customers with exact change.
Offer your customers shopping bags to encourage them to purchase more items. Provide discounts on your products if they buy a lot of items. Give customers half off on an item if they purchase five other products, for example. Strive to increase your average transaction per customer.
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Reorder products well in advance from your franchiser, wholesaler or manufacturer supplier so you do not run out of items, especially your top sellers. Stay up-to-date on new products that your supplier introduces. Display some of these new products to determine how well they sell.
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Tips & Warnings
Protect your products from potential theft at the flea market by bringing along a spouse or family member. Pay your son $8 an hour, for example, to help you sell products. At least one of you should remain at your booth at all times, especially during rest room or meal breaks.
References
Resources
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