*****
THE FLEA MARKET ADVISOR
By: Paul Runtich
Copyright 2012 Paul Runtich
Smashwords Edition, License Notes:
This ebook is licensed for your personal enjoyment only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you are reading this book and did not purchase it, or it was not purchased for your use only, then please return to Smashwords.com and purchase your own copy. Thank you for respecting the hard work of this author.
*****
FORWARD
This book was written for beginner and seasoned flea market vendors with advice, tricks and tips on how to be successful in marketing and selling at any flea market, event, fair or show. This book provides easy to follow instructions on how to make money at flea markets; in addition to how to open and operate a flea market as a business. I have twenty plus years part-time and full-time experience selling at markets, and I am currently still selling at markets.
All the information in this book is current and up-to-date and will work for you at any flea market or event anywhere. This information can also be used in opening up a store front business also.
In this book, you will find:
What sells now and in the future.
How to market your merchandise and yourself.
Why selling “services” pays off.
Unwritten rules between vendors.
What items to sell at around $7.00 to $9.00 that most people need and want with a 600% profit margin.
How much money you will need for merchandise, equipment and supplies to start your business.
How to choose the right market to sell your merchandise.
The best location at the market for sales.
How and where to find merchandise to sell.
How to set up your merchandise with the proper presentation to encourage buyers to buy.
What to charge for items and why. Cheap will not work.
What to sell - new, used, collectibles, food, fruits and vegetables, baked goods, candy.
How to be the gatekeeper or how to own your own flea market.
With the following advice, I guarantee you will make money. It does take research, planning and time; but it is strictly a cash business and makes for an excellent part-time or even full-time income.
This information is not from a professional book writer or marketing company out for a fast buck. It has taken me twenty plus years of hands-on-work and research to learn all the ins and outs. I still sell at markets every season and will keep on doing so. After time it gets into your blood. This information has been a highly guarded secret that professional vendors keep to themselves. But why not let other people have an opportunity to cash in on this. If you simply follow the program, here is everything you will need with little and/or no capital to make several hundreds of dollars for a few hours time on a weekend.
Caution and care is needed before you go and start selling in any market. So, read the book with an open mind and apply the principles and you, too, will profit. This book will give you current advice and direction with the proper tools to achieve your goals in the flea market business and/or a brick and mortar store front, or in using any auction sites over the internet. However, I cannot and will not talk about any single merchandise item that you could sell. There are just too many items that can be sold for high profit. I will offer examples.
This book will anger many professional vendors for the secrets, tricks, and ideas made available to the average person. Most questions can be answered by reading the book once or twice; and then like anything else, practice it, do it and just use common sense.
If you are looking for a get-rich-quick program, this book is not for you. I have seen people writing books on how to make $10,000 a month selling at flea markets and/or garage sales. It’s possible, but highly unlikely. You would need at least seven to eight completely stocked vans with equipment and merchandise for set up at seven to eight different large markets on the very same day with one to two people working each setup.
In summary, read the book, apply the principles and slowly give it a chance. Start small and then build from there. When you first begin your flea marketing experience for the very first time, there is a learning curve and it may take a few times or several times until you get comfortable doing it. It is extremely important to build a customer base (or a following) to obtain repeat business and referrals. If one market closes (and they do for a number of reasons) and you move on to another market, you want your customers to follow you.
One point most people overlook and that is pre-planning. Always check the items that you are selling ahead of time before you go to the market. Check your vehicle that transports the merchandise; make sure it is running properly, is full of gas, and has battery cables in the vehicle. Be prepared and plan ahead so that the day you leave to sell, you are ready. Planning means money in your pocket.
CHAPTER 1 -- ABOUT FLEA MARKETS
HISTORY OF FLEA MARKETS
Years ago flea markets were noted for selling used junk and dirty items that people did not want anymore. This is not true today. Today’s markets are different. Flea market vendors today sell new merchandise; food; clean, barely used merchandise; collectibles; and yes, there are still those who sell used, dirty junk. Today’s customers at flea markets only represent five percent of the population. However, that number is increasing rapidly in lieu of the state of our economy. Many people shop at flea markets like other people shop at brick and mortar store fronts. Those people who purchase most of their goods at flea markets save a lot of money. Sellers are looking to make money, too; and many vendors make their living selling at flea markets. Buyers are more sophisticated than ever before; they want bargains and savings. Sellers are more sophisticated than ever before, also; and spend many hours on week days researching low-cost merchandise to purchase for resale. As a seller, you need to buy low and sell high. Get knowledgeable. Get informed. Learn the internet. You must research, research, research.
In setting up your merchandise for resale, presentation is top priority. It must be attractive and presentable to draw the buyer. In addition, you want to purchase quality items; your equipment must be clean, including your vehicle; you must have good selling prices versus the brick and mortar stores. Good prices; not the cheapest prices.
Flea marketing has become a business for some vendors to support themselves and their families; or you can be a part-timer to supplement your full-time job.
DOLLAR STORES VERSUS FLEA MARKETS
About thirteen years ago, around 1998, before dollar stores came into play, I sold at a local outside market on Sundays (which, by the way, is the best way to sell). I averaged $800-$1,100 in sales in six hours. My profits averaged 50%-60% or $400-$575 for one day. But the dollar stores hurt the flea market business and sellers need to be savvy in their research for quality products at bargain prices. My average income today is $300-$450 for one day. Average profit is 400%-600% not 100% like before. This is based on what you sell and purchasing merchandise at a low price. Remember, time is money. I like doing markets to meet new people and to make money at the same time. There are no guarantees as to how much you will make. There are several factors: time of year, weather, crowds, type of merchandise you sell, pricing so the customer saves money, location of your spot, and how you present your merchandise and yourself to the buyers. You will have good days and bad days in the business. Spend the time needed to start and build this business or do not even consider this opportunity. There is money to be made in either a good or bad economy. Repeat business is what you want to build up and to develop a following of customers. When customers come back time after time again, they soon tell their friends and that equals sales and profits in your pocket.
CHAPTER TWO -- THE BASICS OF PURCHASING MERCHANDISE FOR RESALE
This information is a starting point only. I have been buying, selling, wholesaling and retailing for over twenty years, which I still do part-time one day a week and make huge profits. All of the information listed below is current and works in today’s market.
BUY MERCHANDISE THAT IS NEEDED AND WANTED ONLY
With today’s economy, average people do not have a lot of extra cash and they want merchandise that is needed, not luxury items. As an example, an item that is wanted and needed by people is cell phone car chargers. Stores sell them for around $20.00 to $40.00 each. You can sell them at $7.00 or $9.00 average and make a profit of over 600%. I do it and make a huge profit doing so. (Selling price varies by areas). But do not sell them at $5.00 like the banana box people do. Offer the service of testing the chargers on the customers’ phones to make sure it works before the purchase along with selling the car chargers.
ARE YOU BUYING MERCHANDISE TO RESELL?
Hopefully, yes. You need sources, contacts, which will take some time to obtain. To get started, research Ebay, Craigslist, other auction sites, trade magazines and ask people you know and ask flea market vendors. But first of all, you need to decide what you want to purchase and sell. You want to buy it at a low price and sell it at a high price to obtain high profit margins. Most important: Is your selling price at least 30%-50% cheaper than a retail store? People are looking for a good deal regardless of whether we are in a good economy or a bad economy.
HOW TO LOCATE MERCHANDISE
First of all, decide what it is you are looking to purchase for resale. To find sources do your research. Research requires a lot of time so familiarize yourself with the internet. I do research on the internet on a weekly basis even after twenty years in the business. I also read trade magazines and research the suppliers of wholesale merchandise. Sources dry up, close up; or they are only one time deals or they have raised their prices too high. It is imperative to always be searching for a new suppliers. I cannot stress enough -- research, research, research. And always remember, buy low and sell high and offer a true discount versus retail store prices.
LOCATING AND BUYING MERCHANDISE
Locate deals. Try to buy the entire deal or lot of merchandise. This way you have control over it. Do not wholesale to local vendors, if possible. Try to sell what you do not want or need out of state or out of your area. Research the internet for buyers. Look for items other sellers do not have. For an example, a vendor I know found a large lot of hose sprayers made in the USA in the State of Pennsylvania. The factory moved to China now. The quality is excellent. They retailed for $4.99 in 2004-2005. The new sprayers from China that are being made today are junk and sell for $5.99 now in 2011. He purchased 15,000 at $.04 each. Of that 15,000, he wholesaled 2,000 at $.25 each. He tried to sell them at the flea market for $1.00 with little success; then two for $1.00 with almost no sales. I told him that they are quality sprayers and to sell them at $2.00 each or three for $5.00. Guess what? He is selling a whole lot more. Remember, cheap doesn’t always work because buyers think you are selling junk. (Get it?)