This is a pdf file of the blog article
SO YOU WANT TO RUN A MARKET STALL BUSINESS
Written by Terry Bailey
Owner : Just Moments in Time
www.justmomentsintime.com.au
Terry is part of our team here at MSA providing valuable information gained from his experiences as a stallholder in the markets around Sydney.
SO YOU WANT TO RUN A MARKET STALL BUSINESS
Written by Terry Bailey
Owner : Just Moments in Time
www.justmomentsintime.com.au
Terry is part of our team here at MSA providing valuable information gained from his experiences as a stallholder in the markets around Sydney.
This pdf file is the article 'SO YOU WANT TO RUN A MARKET STALL BUSINESS'
| marketers_guide.pdf |
Reasons To Visit Your Local Market
- Wide variety of goods at affordable prices
- Healthy open air activity all year round
- Sense of community
- Atmosphere
- Dependability
- Individual service
- Environmentally friendly
- If you are new to an area, it’s a great way to meet local characters, hear local gossip and find out what is important to those who live in the area.
- You’ll find goods that you won’t necessarily find in shopping centres.
If you treat the traders with friendly respect, in most cases they’ll welcome you back like an old friend.
Handy tips:
Don’t confuse markets with car boots. Car boots are a very different affair. The major difference being, car booters are private sellers out to make extra cash. Market traders are business people who are out to make their living.
While haggling over price might be acceptable at a car boot, market traders do not take kindly to this practice. Don’t believe everything you see on TV. You wouldn’t haggle over the ticket price of $10.00 in a shop so treat a market stall as an outdoor shop. If the trader wants to give you a discretionary discount, leave it up to them.
The most annoying question for a market trader is ‘what’s your best price?’ The best price is the one on the ticket!
If you would like to set up as a market trader.
Do your research, talk to traders, find out stall prices, research your product – decide whether you could cope with cold temperatures throughout the winter, business can’t just stop then! It’s not as easy as it looks.
There are different types of markets.
1. City centre markets (sometimes indoors). Sydney's Paddy's Market at Haymarket is a great example. City markets are usually open 4-5 days per week.
2. Weekly town markets, find out from the council or tourist office what day the market is on. They are usually on one or two days a week. Eg. Fairfield Markets NSW is on a Saturday all year round. Penrith Markets NSW Wednesdays all year round.
3. Farmer’s Markets are usually on once or twice a month, selling fresh produce straight from the farm.
4. Flea markets might be on the same day as the weekly town market.
Try something different from the everyday shopping malls, visit a market and hopefully you will be pleasantly surprised.
Some Of The Questions We Are Asked & The Things We Overhear
- Are you here every week?
- Is this all you've got?
- Too much to choose from. (Then walk off.)
- Can you change $100 note? (8 o'clock in the morning)
- I can do that.
- How much is that? (Even when we have a price tag on everything)
- How much for three but I only want one today?
- Will you still be here after Christmas? (After14 years in the one spot)
- I must get one next year. (Even when it's March)
- Don't touch. (Mothers to children eating food over the top of our product)
- I bought this elsewhere can you exchange it?
- Do you have it in any colour that is not on display? (Um! No!)
- I've seen it cheaper elsewhere in the market. (You know there is no other product similar in market)
- I bought a product from you 5 years ago. Do you still have the same ones?
- Do you know where else I can buy these?
- Why weren't you here last week? (Um! It was pouring rain)
- I haven't quite got enough money. Can I have it for $10 instead of $20 and I'll bring you the rest next month?
- Can I come to your home to buy? (Well no. I don't have a market stall set up in my house)
We Are Competing With Shopping Centres
An experience in the markets should be different to that in a shopping centre. Whether it be in a car park, local park, purpose built market. Many people love to window shop. They may not buy today, but if the experience was memorable they will remember you in the future. Have a flyer on your stall, people hate them in their letter box but love to pick them up from your table. Thank them for their engagement with you. They may even visit your stall a couple of times before making a purchase. Many people have to justify a purchase to themselves. Always greet their inquiries with a smile.
emailed from Michael
Advanced Market Goer: Some Secrets
Written by Sarah
I want to share some tips on creating a market stall, so if you’re interested or need help, please read on!
I started selling relish as a market stallholder just over a year ago now (my first ever was at North Sydney, March 08) and looking back at the photos I took of the stall on day one, I’m surprised any jars were sold at all!
I’m really happy how the relish this.stall has evolved over the past year, and these changes are best seen by comparing the photos above and below.
The changes were made based on snippets of information picked up each time I attended a market – whether from a new suggestion, a repetitive request for information from customers or simply a new tip shared between myself (novice) and an experienced stall holder – if you keep an eye out there are always certain ‘things’ one can do to improve your stall and ultimately your sales (big point to note here, if you’re looking to start a stall I highly recommend building up a relationship with an ‘experienced market goer’ and pick their brain – they have secrets and tips to help they don’t realise they know).
If you can get advice from others and learn from their mistakes the better off you are…(as is the way with most things I guess). Below is a couple of things I recommend / have learnt so far to help those of you starting up your own stall (you will have to wait to hear the rest as I’ve always said I would write a book about having a market stall…)
top tip – presentation, presentation, presentation.
I believe presentation is the vital ingredient to a successful stall. First glance from a customer sums up whether they have any desire to stop and look further at your stall, and ultimately, whether they may even consider buying from you or not (same theory as first impression at an interview or choosing a partner!). Presenting your wares/service professionally and attractively is important, and investing in things such as a tablecloth is a good start. It’s ideal to purchase one that is easy to wash, non-creasing and falls to the ground to provide a secure storage area under the table(s) and to also give a visual representation of a shop counter. This front ‘drop area’ of your tablecloth is also like a blank canvas where you can promote your stall/business name/branding, product information, pricing or current promotion signage.
check out your stall – from the eyes of a customer.
This is when you get the chance to openly check yourself out. Well ok I mean the physical handywork of your stall, and how it looks to your customers. Stand around at the front of your stall and eyeball everything (better yet, take photos to look at later and to get feedback from others), what do you look at first, where do your eye moves next, what colour/ product/ item / sign stands out, where do your eyes primarily fall after you’ve scanned the space (i.e. where is your prominent ‘retail space’) and what do you think your potential customers will see (or unfortunately, judge you on). Check out other peoples stalls and what it is about them that attracts your eye and what makes it linger. What information does your customer need to know about your product to keep them looking, what need can you satisfy for them or what can you hide from view – drink bottle, phone, rubbish, extra boxes etc.
Even though a marketstall is similar to a retail shop, and there is no doubt lots of information on the ‘retail’ side of things, but a temporary market stall has its differences and I am yet to find information for marketstall noobs* like myself.
I want to share some tips on creating a market stall, so if you’re interested or need help, please read on!
I started selling relish as a market stallholder just over a year ago now (my first ever was at North Sydney, March 08) and looking back at the photos I took of the stall on day one, I’m surprised any jars were sold at all!
I’m really happy how the relish this.stall has evolved over the past year, and these changes are best seen by comparing the photos above and below.
The changes were made based on snippets of information picked up each time I attended a market – whether from a new suggestion, a repetitive request for information from customers or simply a new tip shared between myself (novice) and an experienced stall holder – if you keep an eye out there are always certain ‘things’ one can do to improve your stall and ultimately your sales (big point to note here, if you’re looking to start a stall I highly recommend building up a relationship with an ‘experienced market goer’ and pick their brain – they have secrets and tips to help they don’t realise they know).
If you can get advice from others and learn from their mistakes the better off you are…(as is the way with most things I guess). Below is a couple of things I recommend / have learnt so far to help those of you starting up your own stall (you will have to wait to hear the rest as I’ve always said I would write a book about having a market stall…)
top tip – presentation, presentation, presentation.
I believe presentation is the vital ingredient to a successful stall. First glance from a customer sums up whether they have any desire to stop and look further at your stall, and ultimately, whether they may even consider buying from you or not (same theory as first impression at an interview or choosing a partner!). Presenting your wares/service professionally and attractively is important, and investing in things such as a tablecloth is a good start. It’s ideal to purchase one that is easy to wash, non-creasing and falls to the ground to provide a secure storage area under the table(s) and to also give a visual representation of a shop counter. This front ‘drop area’ of your tablecloth is also like a blank canvas where you can promote your stall/business name/branding, product information, pricing or current promotion signage.
check out your stall – from the eyes of a customer.
This is when you get the chance to openly check yourself out. Well ok I mean the physical handywork of your stall, and how it looks to your customers. Stand around at the front of your stall and eyeball everything (better yet, take photos to look at later and to get feedback from others), what do you look at first, where do your eye moves next, what colour/ product/ item / sign stands out, where do your eyes primarily fall after you’ve scanned the space (i.e. where is your prominent ‘retail space’) and what do you think your potential customers will see (or unfortunately, judge you on). Check out other peoples stalls and what it is about them that attracts your eye and what makes it linger. What information does your customer need to know about your product to keep them looking, what need can you satisfy for them or what can you hide from view – drink bottle, phone, rubbish, extra boxes etc.
Even though a marketstall is similar to a retail shop, and there is no doubt lots of information on the ‘retail’ side of things, but a temporary market stall has its differences and I am yet to find information for marketstall noobs* like myself.
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