Flea Markets - An Easy Way to Get Into Retail Sales

I just love flea markets.

To me, this really is the ideal environment for a beginning entrepreneur to get his/her feet wet in retail sales. The ease at which you can start up a flea market business is amazing. This truly is a level playing field where both large, medium, and smalltime operations have an equal chance at making sales. It's also a great way to test new products and get a feel for what the demand is going to be like.

There are three things that make flea market sales attractive:

1. You don't need a lot of money to get started. Even in some of the most popular flea markets, you can still rent a booth for a weekend for around $100.

2. There is no long-term commitment. Unlike any other retail venue, you don't have to commit yourself for any length of time. Compare this to operating your own retail store (or even a kiosk in a shopping mall) where you have to sign a lease. This can be a major financial obligation.

3. Fleamarket traffic can be quite heavy. In terms of what you pay for your booth versus the amount of foot traffic you get, nothing beats this venue for value. Where else are you going to get thousands of people in front of your product for a measly $50 a day?

Of course, one of the biggest drawbacks to flea markets is that people are out looking for bargains. You won't be able to charge as much as you would in a retail store, but usually the increased number of sales will make up for this.

If you've never done any sort of retail sales before, one of your biggest challenges may be in finding reliable suppliers. You want to make sure that you're going to be able to make a decent profit even though your customers are expecting rock-bottom prices. Usually, your inventory is bought wholesale in larger lots. The bigger your purchase, the more money you are going to save.

Check online for your bulk purchases as well as frequenting local auctions. You're going to have to have the ability to recognize a good deal when you see it, while staying away from things that will be difficult to sell and/or have little profit potential. Much of this is going to come with experience.

Whether you decide to specialize in one area or simply offer a variety of items, you can't beat a flea market for exposure and volume. Furthermore, if you're able to distinguish yourself from all the other vendors, you'll gradually make a name for yourself - and something like this can easily become a full-time income.

Starting a Seasonal Retail Business

Have you ever noticed how certain holiday items tend to fly off the shelf quickly? In some cases, extreme shortages can cause quite a bit of mayhem for the retailer that still stocks those items. Of course, considering they are able to charge full price for their items, I'm sure they're not complaining.

Can you imagine a business that deals in nothing but these hot items?

Well the truth is, there are many seasonal businesses that follow this exact strategy and make a decent profit doing so. Even though it means that they've got to completely change their inventory and displays several times a year, they've undoubtedly found a niche that works.

Obviously, these seasonal businesses must make arrangements to handle extreme volume for short periods of time. This can be a problem from an employee standpoint. Their business is going to be either nonexistent or excessive. It's tough to manage staff around such highs and lows.

For those that can deal with a schedule like that, there's a lot of money that can be made in a very short time around a major holiday. If you are able to stock very popular items, you can rest assured that your entire inventory will sell out quickly. Of course, you always run the risk of over buying or under buying certain items that will either result in leftover inventory or your customers walking away empty-handed. Experience plays a big part here. Once you've done this for a few years, you will have a much better feel for inventory control.

Although there are a few major retailers that have built their business around seasonal items, the bulk of seasonal retail is still carried out by small independent retailers. Many have been doing it for years and have got it down to a science.

If you're considering starting such a venture, you might want to check out your local flea market. For a reasonable fee, you'll be able to rent a booth by the day, weekend, or month. A flea market is a perfect venue for this type of business because it provides high pedestrian traffic and people that are ready to buy.

Your initial investment is going to be significant because you're going to have to purchase an initial inventory. Nothing looks worse than a flea market booth with only a few items. The secret here is finding a reliable supplier that can deliver on time at a great price.

Once you've got your booth set up and your suppliers sourced, you can concentrate on high-volume sales around major holidays. If you end up with unsold inventory, simply store at and keep it for next year.