Hello folks and Happy New Year! Thanks for taking a minute out of your time rushing around for those January Sales to pay us a visit!
So today I want to talk about market stalls and what they can do for you as a business, what to look out for and do’s and don’ts following our first ever set of market stalls. A lot of the pointers are going to be transferable to wedding fayres but I am drawing purely off our own personal experiences which I feel may help you if you embark on such an event.
Coming up to the Christmas period we had a large back stock of some really funky bottle lights- if I could have kept them all I would’ve but that wouldn’t have made very good business sense now would it!? We decided we needed an outlet to get them under the noses of potential customers and hopefully make a healthy profit. Our bottle lights are merely a sideline to our main business of message in a bottle invitations but we felt that we would go with our most suited product targeting customers wanting to give something a little different this year.
What to bring. We have since done two markets now and both of them were very different in their approach to paperwork. Both of them demanded that you had valid Public Liability Insurance for up to £5million, I was however not asked for this on the day! You’ll need to bring your confirmation and also (if appropriate) your trading license- if you are planning to serve any foodstuff then you may need to delve
You may want to think about bringing someone along with you for the day- friend or family! It can get a little tedious (and cold!) at times so it helps to have a stall mate- this is also very helpful when nature calls!
Targets. How much would you expect to take on a market? Well this is going to come down to some shrewd budgeting. If a market stall is £30 it will take you a lot less time to make your stake back on a market that was £200 to attend. Also think about what you are selling- it’s ok to sell stickers or paper aeroplanes for £1 a go but you’ll have to sell a lot in order to get in the profit margin, similarly you do not want to overprice yourself as you could end up with no sales at all! Maybe a range of products may help you get underway and maybe do multiple deals once you’ve reeled them in.
Have a great Christmas and New Year and I’ll be in touch later on this month with more exciting developments!