Many of the students who attend our candle and soap making class do so because they intend to start a small business either selling their candles online or at local markets. As a market manager for over 12 years I gained a great deal of experience and as a result wrote an E-book full of great advice.
Here is a short introduction to the E-book.
Although this E-book doesn’t provide all the answers answer, I hope that by going through it, it will make you think about your reasons for going into this type of business and to be aware of the problems as well as the many benefits. “Marketing” can be a very satisfying business when it’s done right, so be prepared and make the most of it.
Operating a successful market stall is not solely about making money. If that’s your reason for starting, then save yourself some time and think about something else. Most people who operate market stalls start because they have an interest in a particular type of hobby, love baking or have an idea that want to promote.
There has to be a passion for what you do, how you sell it and the customers you will come into contact with.
Settling for anything less will mean you will not last.
Your choice of product is made much easier if you make what you sell and there is nothing more satisfying than selling a product that you have developed.
If you consider your product unique and new to the market, it is worth considering whether to have the design/idea covered by Trademark protection and copyright. It may not prevent it being copied, but it will offer some protection. Besides being good business practice documentation is the best way to convince potential associates of the viability of your business.
Operating a market stall is not easy. It means early starts, long days and sometimes without much to show for it. Along with the hard work, you need to be very much a people person because you will be in constant contact with customers, other stallholders and market coordinators and you will have disagreements and disappointments with all of them.
Having said all this, operating a market stall can be a very satisfying lifestyle, not only for the monetary rewards but it can also boost the profile of your products, increase your customer base and possibly be a stepping stone to bigger and better things.
So, what are you waiting for?
So, Why Operate A Market Stall?
Everyone has their own reasons for wanting to operate a market stall. Here are just a few.
- · Flexible working hours
- Be Your Own Boss
- · Friendly atmosphere & you come into contact with all your customers.
- · Allows you to be creative
- · Earn some extra cash
- · Build up your database for your website and get free advertising on the market website.
- · Outlet for your craft/hobby and get feedback from customers
- · It is a great way to test your market and get valuable feedback from the public
- You make more money dealing directly with the customer.
- · Early starts
- · Long Days, including travel times
- · No guaranteed income
- · The time it takes to set up & pack down
- · The time it takes to make all your products
- · Having to buy specialised equipment eg tents and tables
- · Having to work outdoors in all weather condition
- Cost of participating i.e. rent
- Preparation of stock without the guarantee of sales.