How to be Successful in the Flea Market Business

Some people think it is easy to start a flea market business. They dream about making big money by signing up and taking their merchandise out there. However, sometimes, it’s not as easy as it seems. Here are some things to think about if you want to be successful at a flea market.

First, you want to decide what type of merchandise you want to sell. Do you want to sell new merchandise, vintage collectibles or antiques? You want to choose something that you know a little bit about and can readily obtain at wholesale prices. For example, if you want to sell sunglasses, you should know something about fashion as well as where to obtain wholesale sunglasses. The same holds true if you want to sell vintage Murano art glass; you have know something about art glass and you may have to visit a few auctions and yard sales.

Once you know what it is that you want to sell, you must then decide on where to sell it for maximum profit. You have to choose the right flea market for your merchandise. An antique and collectible flea market may not be the best place to sell sunglass, as a matter of fact; some promoters wouldn’t let you in the door with them. On the other hand, an inexpensive flea market is probably not a good place to sell your antique sideboards and lap desks. Some flea markets are high end and some are lower end. The main thing is to choose a flea market that will allow you to sell at the right price.

This brings us to pricing at flea markets. Most flea market dealers expect that there will be some haggling on price. Therefore you have to insure that you price accordingly. Some dealers mark up the price by 25% in order to haggle down to what they really want. However, with the way the economy is today, you may want to be careful about the pricing. Customers at flea markets expect that prices are lower at a flea market and that is why they shop there. Otherwise, they could get the sunglasses at any local drug store or big box store. Another thing to remember here is that you don’t want to hang on to inventory too long, you want to turn it around as quickly as possible. Customers who frequent flea markets do not want to see the same things every time they come out.

Displaying the merchandise is as important as customer service. Regardless of the where the flea market is located or what type of flea market it is, you want to insure that your merchandise is eye appealing and place impulse items in front where customers can readily get to them. Use movement to get the shoppers attention. If an item is not selling where you originally displayed it, move it somewhere else. Everything has a buyer; it just takes the right person to come by your booth. Once they come to your booth, you want to make sure you treat them nice. Although it is not like a store, you still can get many repeat customers by treating everyone with respect. Always have bags and change.