Tuesday, September 27, 2016
How to Make More Money Selling at Flea Markets
Selling is not rocket
science. It’s a simple equation:
- take something people want
- display it attractively
- offer the right price - and it will sell.
Flea markets are great
fun, and you will meet all sorts of interesting people there. But make no
mistake, selling is a serious business, and there is considerable money to be
made if you approach it the right way. There are vendors making as much as
$1000 a day, all because they’ve mastered the market mentality.
Know Your Fleas
Flea markets come in all shapes and sizes, and they pop up
all over the United States. Some are antique emporiums, others double as
farmers’ markets. They can be indoor, outdoor, regular, seasonal or pop-up. To
locate those nearest to you, be sure to check an online flea market
directory. You may find there is one nearby that you weren’t aware
of.
When it comes to doing business, there are two variations
you should consider: long-term and classic. If you’re serious about
selling as a long-term business plan, then as the name suggests, you should opt
for long-term. The initial payout and commitment is higher, but this is where
you will find the regular sellers who have been in the business a while.
Classic is more for your rock-up-on-the-day vendors. They are lower risk, and
as such make good initial experiments for those who are just starting out in
the flea market business.
No two crowds are the same. Every flea market is likely to
attract a varying range of clientele, depending on the kind of wares to be
found there. Your job is to know the kind of crowd that each particular market
will draw in.
A good way to suss a potential crowd is to visit the market you intend to sell at
a few times before you set up shop. Look at the sorts of people who are
wandering around, and importantly, be aware of who is buying. Who are the
people lugging full bags and carts? What kind of items are they carrying? Once
you know your crowd, it’s important to dress yourself, your booth and your
items to appeal to that demographic.
Your set-up should look so visually appealing that shoppers can’t help but stop to take a
look. It doesn’t have to be perfectly neat - it should have the air of having
been rummaged through - but it shouldn’t be too messy either. Feature the items
you really want to sell most prominently, and use display racks and boxes to
create levels. Neat trick - try bundling less appealing items together as deal
bags.
Once your table is set up, stand in front of it to see how it looks to your potential
customers. Does it stand out compared to the stalls around it? Is it easy to
get a quick glimpse of the array of products on offer? Using signs is a good
tip, especially for drawing attention to smaller items.
In this day and age, you really need to accept credit cards.
It makes shoppers uncomfortable to walk around with too much cash in their
pockets. People will arrive at flea markets with some cash, but they will
always spend more if card is an option. It’s not hard to do this, just open an
account with PayPal or Google Checkout. Your customers will thank you for it.
The beauty of flea markets is that you can sell almost
anything, as long as the discount is big enough. Remember, flea market shoppers
are looking for the best deal on anything they buy. However, certain items sell
better than others. Some of the better-selling products include clothing,
tools, jewellery, toys, car parts and paperback books. The latter is
particularly profitable, as nearly everyone has an interest in reading
something, whatever the subject may be.
Something to bear in mind is what your fellow vendors are
selling. You don’t want to be offering more and more of the same. Selling something
different will make your booth more likely to stand out. The best products to
sell at flea markets are those that are
in demand, and those that can be demonstrated.
Demonstrations are highly effective because they draw in a crowd - shoppers
enjoy seeing how things work.
Aim to buy your merchandise at very low wholesale prices. Often you can get products that are brand new -
they have just been overstocked or are part of last season’s range. Check a wholesale
goods directory for the best deals. If you’re selling clothing,
jewellery or books it’s also a good idea to browse your local Goodwill and
second hand stores, as well as visiting nearby closeouts.
No-one is going to want to buy something from the sour-faced
grump sitting in the corner with their arms folded. Body language is where a
lot of vendors go wrong, coming across as disinterested on one hand, or
overbearing on the other. The perfect balance is right in the middle. You
should smile as much as possible and always greet people who approach your
table. Make conversation and keep it
natural and not too salesy. Shoppers are more likely to buy if they feel
comfortable with you.
Unless you plan to haggle, make sure your prices are nice
and clear. You will probably find that shoppers attempt to haggle either way.
Based on this, it’s wise to quote an
initial price that is higher than what you expect to sell the item for.
Keep in mind all the while what your lowest price will be, so you don’t end up
losing money.
Low value items are generally not worth haggling over unless
you plan on selling them in bulk - keep them set to a price that is good value
from the start.
Once you’re all set up, make sure people know you’re there!
You could have the most beautiful stall in the world, but it wouldn’t matter if
nobody saw it. Sites such as Craigslist are good for free advertising, as
are the social media networks. Facebook is a good place to post pictures of
what you’re selling to entice people down. It’s also worth going the
traditional route and investing in some business cards to dot around, letting
people know what you sell and when you will be there.
If you want to make
serious money out of selling at flea markets, and not just a bit on the side,
then you must treat the enterprise as you would a business. Become a friendly
and reliable vendor selling quality products at good prices, throw in an
appealing aesthetic and credit card capabilities, and you’ll be well on your
way.
-----
By Hollie Jones
Hollie Jones is a freelance writer and blogger living in New
Jersey. She makes up one half of lifestyle blog Hollie and
The Ivy. In her free time, Hollie likes to shop, barter and
decorate. Luckily, the three go hand-in-hand.
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