The Flea Market as a Business Location

Since the ancient ages men have gathered to barter, buy, and sell the fruits of their labor for necessities that they couldn't produce. In the early days of our nation we gathered at the end of the week, and after harvest to trade. In later years non-producers fashioned establishments to sell what we needed on a regular basis, food, seeds, hardware, drinks, and medicines.

Later we saw these entrepreneurs organized into villages with streets and parking for our vehicles, and animals. Once we progressed from our agrarian roots to service and manufacturing, and everyone had a vehicle for travel, we built large concentrations of these businesses in Malls and Shopping centers. With the flood of cheap goods from overseas we have a surplus of these outlets. The malls are full, and we are building more. The cost per square foot varies from area to area. The investment companies who build these malls would rather see an empty store than an under priced rental. Thus the overhead for the American Dream has risen out of reach for the many Americans.

Enter the weekend flea market. These markets span the board from tables along side a road to Mega malls that run for miles under roof. The owners provide space, electricity, heating, cooling, and security. The vendor provides a monthly payment and creates their own store. What ever the format the rules are the same.

First rule is you must sell enough to pay the rent. No matter what Bosley, Tim, or your mother-in-law may think ,unless you make enough money to pay the rent it all stops on the 1st of next month.

Second rule is that you need to be open every possible day and hour to meet the goals of the first rule. Many of the vendors I have seen fail did so by default. If you are a religious person and don't work on the Sabbath you are wasting half your rent in a flea market. Better to get an EBay store or a website.

Third rule is to sell what people want to buy, not what you like. Before opening a store in a particular Market visit on both days for couple of months. Don't look at what's being offered, look in buyers bags and see what they are buying. Listen to what buyers are offering, and what vendors are asking. This will help you decide what to sell and for how much. This is best done before you open a store. The other vendors will get a bit grouchy if you do it after you open.

Forth rule is double or nothing. If you can't get twice what you pay for an item you will not make rule one. You should only stock those items where you can double your money.

Fifth rule is to sell items that no one else has. This is not a contradiction of rule three. If a vendor in the market is selling pocket knives, and you want to sell pocket knives, sell different pocket knives and some special accessories.

Sixth rule is to diversify, but don't confuse your customers. If you are selling new products don't carry the same item used. If you sell gifts for the ladies, then add men's toys (NASCAR, Knives, and ECT) to keep them in the store till the ladies are finished buying. Not standing in the hall complaining.

Sources of products are available on the Internet, in trade magazines. If you sell used goods then you can generally find a Salvation army store, thrift stores, and of course EBay.

Just a quick reminder that while Aunt Ellies knitted dollies are cute, they may not be salable. Likewise, just because those foot stools you made for everyone at Christmas were well built, doesn't mean spmeone will pay for them.

The flea market will always be around in some form. If you follow these rules your flea market business will, if not boom, be successful.