Small Business Opportunities – Flea markets
Flea markets and doing business on the flea markets is one of the great way to have a small home business.
I believe that people that are either crafters or are simply just looking for a way to start up a small home business can do so very easily by going to trade on the flea markets.
Firstly let me point out that there are very many different types of flea markets, you get flea markets that attract bargain hunters and those will only ever make you money IF you actually have an in demand product that you have bought at a really great wholesale bargain price.
To compare then there are flea markets that cater to the tourist trade – and to be successful there you need a product that will immediately work for a tourist. Remember that all it takes is a bit of research for you to nail down a specific market.
Take the tourist buyer for example.
Now remember that I am here in Johannesburg South Africa. There are only two big tourist markets, the one being Bruma flea market – and that one has recently been sold to a consortium of Chinese traders – so you run the risk of that market changing right under your feet.
Then there is the Rosebank market – and that one is the best and biggest by far. However you need to realise that you are competing against some of the biggest curio traders that are on this continent.
Do not panic, all you need to do is to stick to a few rules and you can out sell those guys easily.
Firstly see what is selling the most. Find out why those items are flying off the flea market tables.
Are they very cheap? Are they small and compact? ( great for tourists) Are they unique?
Once you have done that sort of analysis you need to brainstorm for a product that fits into all those critical features.
Very cheap – very compact – very unique – very high quality
Then you need to find a way to feature that item in a big way.
You need to create thousands of them – and pile them so high on your stall that you need a step ladder to get the top ones of the pile.
You need to have a two-for or a three-for or even a four-for special running all day.
So do you see that this would be only one type of product in one type on niche area in one city.
Almost every time you do research it will need to differ for the type of idea that you have and the methods that you would like to use to do your marketing.
In my training I normally suggest that you choose a product (when you do your research) that has the potential to be marketed in a number of different ways. This would give you some flexibility in your cash-flow, and over time build up a number of different income streams.
I offer you a report that should give you a better idea as to how to go about planning your new flea market business. If you have this idea only because you need to find another way to either earn a living or a way to get extra income – then I do have other options and possibilities that you can pursue. ( my reports are all shown on the side of this website as banner adverts)
Please remember this – There are literally thousands of ways that you can try to earn money. The way that you go about doing your preparations and your planning is so very important between you wasting time and money on an idea and you actually earning money.
You could start a business that is based upon your biggest passion in life if you do your research properly. Research that will tell you EXACTLY what customers are looking for and what they are prepared to buy in relation to that item.
Let me tell you a quick story that will demonstrate my point to you.
I owned and ran a successful hammock manufacturing business for over 10 years. The clients that bought from me became almost fanatical in their support of my products and the quality that I produced.
BUT, and believe me this is a massive BUT!
I was aware from very early on in my business that 99% of people that are looking for a hammock want to buy the “idea-of-a-hammock” meaning they want to get the hammock that they see in adverts with a bikini girl with an umbrella drink in her hand. The want the dream, and do not really want to pay a lot of money for it. naturally they would not buy complete rubbish, but the truth was that they did not want to pay a lot of money for the hammock.
Facts that I knew long ago.
Did it stop me – no – I am a very stubborn man, I never do what I am supposed to do, and I did not care – I wanted to produce a hammock and a hammock chair that I would be proud to call mine. I knew that my sales would be 30% of what they could be if I did not cut back on the more expensive parts and made the hammocks a bit smaller, and a bit cheaper.
To this day I get calls from people that live in wealthy suburbs, drive very expensive cars etc – BUT when they want to buy a hammock they want to pay almost no money at all for the thing.
Now don’t get me wrong, remember that I told you that I knew about this 12 years ago, I am not moaning.
I needed to point out facts to you. People are what they are,and you cannot change that. You need to do your research carefully allowing for those quirks of human nature.
Want proof that people are illogical?
When someone buys a new bed. The will go out and shop very carefully to try to get the best deal on a new bed. In South Africa I am talking about prices all around R5000. They will be so pleased that they got a great new bed for R1000 less.
But then they seem to have forgotten that they SLEEP in the thing every night for years.
Now those same people will spend R9000 (or more) on mag wheels for their car. Or R25000 on a gas cooker for their garden. They will spend R300 000 on a new car every three to five years…
Seems dumb when it is pointed out? But you need to realize that it is that way. Never try to buck the system. Do the research for your business knowing that people have those idiosyncrasies and you need to make use of that knowledge.
Back to Small Business opportunities and getting you helped on a flea market idea.
I suggest that you get those reports that I have written, and start from there. By gaining knowledge you get to see the overall possibilities a little clearer.
Take advantage from the fact that I have 30 years of self employment, 18 years of flea market/craft market experience, and finally now 36 months of Internet marketing experience.
The idea is to work smart – not hard.