Do you have a market stall already? Thinking about starting one up as a small side business? Market stalls can be very profitable – because your set up costs are low, you are able to take a greater profit than you would in a traditional store. But what should you do to increase your chances of running a successful market stall? Check out these tips below:
Have a product that people want to buy
It’s all well and good if you have a great product, but if you don’t have a customer base, then it’s never going to sell. If you’re planning on setting up a market stall you will need to determine a) what types of people usually go to the particular market, b) what stalls usually sell well at the markets, and c) what price point you want to set for your items. Food and beverage stalls at markets are usually the most popular. This is because everyone likes eating and drinking, and most people will get hungry or thirsty if they are walking around the markets for a little while.
Do some clever branding with your stall
The easiest way to make your stall stand out from the crowd is to set up some eye catching branding out the front. The best way to do this is with a retractable banner or two. You can design up your own pull-up banner with your stall name, colours, and logos so that you are easily identifiable in a sea of other stalls. This will particularly help in catching the eye of people walking past, and it will give your repeat customers something to look out for when they return the next week. Since they are portable banners, all you need to do at the end of the day is retract each banner and pop it in the boot of your car, ready to go for next week.
Visit a few different locations
Even though your market stall may not be a great hit in the western suburbs markets, you might sell out quickly when you sell at the beachside markets. To figure out where sales are highest, you will need to travel around to a number of locations and keep records of how much you sold, and how quickly it sold at each. This way, you will know which spots are going to be this most lucrative for your business set up.
It takes time and effort to run a successful market stall. Hopefully we’ve covered the basics today and you will be on your way to a tidy income off the top of your market sales!
Banner Bug have a great range of retractable banners that are just perfect for putting your brand front and centre at your market stall. Contact them today to get a great deal!