Note which items are over stocked at this flea market and which items don't sell at all. Take notes on the types of setup people have at their booths do they have canopies to protect against sun, signs, friendly and welcoming atmosphere? Use your secret powers of observation to look at the demographics of the types of shoppers and which ones are buying merchandise. Do a quick analysis of the different segments attending the flea market. By looking at the customer parking lot you can determine income levels by looking at the cars. By watching people and noticing types of clothing you can determine if the buyers of this flea market have disposable income and if they are willing to spend.
Starting a flea market - sample business Plan Template
To get a state tax id number visit your state website or call the secretary of State in your state and ask to get a sales tax. Ask what types of items you need to charge sales tax on and which ones you don't. Determining which items you have to pay sales tax on will be helpful in measuring your costs of doing business. Find out more info on licensing, fess to sell at a flea market and what to sell at a flea market by visiting ml, short next you'll want to discover where all the flea markets are in your area and you can do this by searching. Once you have a list of flea market locations you'll want to visit each one to see what the flavor. Bring along a note book and take notes so you can compare which market and which merchandise holds the greatest opportunities. When you are visiting a flea market to determine if it is a good location personal for you to sell your merchandise try not to get caught up in the excitement and forget your objective is to evaluate. Some of the things you are looking for are good traffic volume, a variety of vendor wares and buyers purchasing. Stand at the top of each aisle and see how people are displaying their wares, what products seem to bring the most interest in gaining people's attention and which booths have people buying as opposed to looking. You'll notice many flea market vendors have the same items for sale and each vendor keeps lowering the price to get the sale.
Read on as I share some of my secrets and best flea market selling strategies with you. The first necessary piece to building your flea market business is applying for a state book tax id number. No matter what state you live in if you are a regular vendor at a flea market you'll need to collect sales tax. You'll need to get an id number first so you are ready to do business. Some places that sell liquidation need your state tax id number to sell you merchandise. You'll also need your tax id number when you fill out the application to be a flea market vendor. Don't confuse this with a federal tax id number; you won't need one of those unless you have employees.
It will be counted by a counting machine and deposited directly into the bank account. The collection time will vary to maximize security online of revenue. If you are thinking about buying liquidation merchandise and selling it at flea markets on the weekends it is a great way to make extra money. Selling surplus, closeout or liquidation merchandise at a local flea market as a vendor can help you slowly build a business that is quite flexible and rewarding. With the economy so tight and everyone looking for a bargain flea markets have become quite popular. If you do your market research your flea market business can grow into a part time job with full time pay. This article will help you get started building your business so you can be profitable selling liquidation merchandise at flea markets.
They usually service within the same day. It's been estimated to cost approximately 150 per month for maintenance. Personnel Plan, maintenance contractor 1,650 1,650 1,650, other 0. Subtotal 1,650 1,650 1,650, none 0 0 0, other 0. Subtotal 0 0 0, owner 22,000 24,000 24,000, maintenance/Cashier 7,700 8,400 8,400. Subtotal 29,700 32,400 32,400. None 0 0 0, other 0 0 0 Subtotal 0 0 0 Total people 2 2 2 Total payroll 31,350 34,050 34,050 need real financials? We recommend using liveplan as the easiest way to create automatic financials for your own business plan. Create your own business plan.3 Handling of Money money from machines will be collected twice a week by minh duong.
How to Start a flea market Business - the Spruce
Minh is currently a fifth year Pre-med, Pre-mba student with a triple major in Economics, mathematics, and Statistics. He is currently 22 years old. He came to the. 7, 1990 from viet Nam. After finishing his college education, he plans to achieve an mba from Harvard Business School and an md from John Hopkins Medical School. 5.2 Personnel Plan, there will be one Attendant/Cashier employee whose duties include store and machine maintenance, and being a cashier/retailer for the small retail business in the laundromat. As time progresses, we will expand to include full folding service.
Depending on the demand for the service, we might add more personnel. The current salary for the existing personnel is 700/mo. With the added duties and responsibilities, it's reasonable and possible to increase for salaries. As for machine maintenance, this will be outsourced at Xuan Repair Services. This is an on-call independent repair service. They have been known within the community, as one of the reliable and prompt repair services.
He has extensive leadership skills as he had been elected to be President of five different clubs in High School. In college, minh had founded two organizations at the University of California, berkeley. In addition, he had also been elected to various leadership roles such as President and Vice-president of three different large organizations with membership over 500 members. School-wide, minh had been fortunate to be elected by the student body of the university to be a senator in the student government. During his term of office, he headed the finance committee that dealt with over 500,000 in student fund allocation. Moreover, he also headed the Student Affairs Committee as well as the computing Facilities of the student government.
Realizing his service and efficiency, fellow senators elected him to the board of directors of the berkeley student foundation, the largest scholarship foundation for minority students sponsored by the Associated Students of the University of California. There, minh dealt with the decision process of fund allocations to top high school minority students throughout the country. In the business world, minh currently owns a permanent Flea market Power tools Shop at the berryessa Flea market in San Jose,. He is also the President/ceo of a small start-up Internet company providing business solutions to other businesses. He is currently working with five other colleagues at his college on that business. In academia, he is currently working with Professor Bradford Delong, a former Bill Clinton's Foreign Policy Advisor Committee member, as a research Assistant on a book titled, a time series of Changes due to Globalization. Independently, he is currently working on a research paper titled, "Is Chinese reform Sustainable?
M - free flea market Business Plan
Unlike most laundromat businesses, Universal laundromat will have an on-site staff person(Maintenance/Cashier) dedicated not only to store and machine maintenance but who also acts as a cashier to the retail business within the laundromat. As part of the management philosophy, this maintenance/Cashier person will be carefully evaluated for friendliness, professionalism, efficiency, and honesty. The salaries are shown in the personnel plan table. Mihn Duong already has a steady income from his power tool shop, his salary will be less than professional what would be expected if this was his sole source remote of income. 5.1 Management team, minh duong is an ambitious, hardworking, philosophical leader and businessman. He has extensive business experience, and knowledge in various fields including retail sales, service and the Internet industry. Over the years, he has started various small businesses ranging from offline retail sales of a wide variety of products and services to online hosting services.
Many customers who are willing to pay top dollar for jewelry are going to have homework questions about your products. Make sure you know the proper sizes of your jewelry, the materials of which they are made, and, if possible, the history or back-story of the individual pieces. Warnings, be aware that many flea market patrons are bargain hunters. They are not out to spend massive amounts of money, and they frequent flea markets in order to land a good deal. A general rule of thumb in learning how to sell jewelry at flea markets is to be prepared for bargaining. Potential customers often bargain with you before reaching a mutually agreeable price. Don't count on always receiving the amount of money you are asking for a piece. Sources and Citations 182. The business is managed by the owner, who has extensive leadership and management skills as well as an innovative and creative character.
one that best suits your jewelry as well as the personality of your business. Community q a, search. Add New question, i have an antique stone to sell. Wikihow Contributor, try asking someone with an already-established stall if they will sell it for you. They could advertise it with a photo in their stall. You could also look into selling it online on ebay, craigslist, etc. Ask a question 200 characters left, include your email address to get a message when this question is answered. Tips, brush up on your knowledge of merchandise.
These colleagues can give you candid information on the profitability of a certain flea market, as well as firsthand knowledge of how to register, the cost entailed, and the type of merchandise that will most appeal to a particular market's clientele. 3, register for a flea market. Once you have determined which market is right for you, fill out the appropriate paperwork to become a flea market jewelry vendor. You will also have to pay a vendor's fee, which will vary from flea market to flea market. Some areas may require you to have a vendor's license or a sales tax license in summary order to sell your goods, so make sure you check with the local business authorities in your area to ensure you are meeting all the necessary legal criteria. 4, plan your display. As in any business, how you display your merchandise is exceptionally important.
Sample Flea market Business Plan Template