Trading at Markets and Shows
There are many businesses around these days that trade at markets, shows and exhibitions. This kind of trading can be very profitable as there is often little financial risk. Whatever industry you are in, it is likely that you will be able to find some kind of organised event to suit your products. Here I hope to give a brief overview of the things that you need to think about before jumping straight in.
Cost and suitability: The first thing you need to do is to find a suitable event to try and sell your products at. Most places have some kind of market on a weekend, which is the obvious starting point. However, before jumping straight in, it is a good idea to visit a market as a member of the general public to get a general feel for how things work and what types of stalls are there. For example, if you sell model railway parts, a typical Sunday market is unlikely to be suitable. You may want to look for a more specialised event such as an exhibition that has trader stalls. Once you have found an event, consider the cost carefully. Some markets and exhibitions can be very expensive but some can be very cheap. The less you spend on ‘renting’ your pitch for the day, the less you have to see to cover costs. Remember though, the cheapest isn’t always the best.
Taking Payments: Depending on what types of products you will be selling, you may have to think about how you will take payment from your customers. If you sell low value items, you will probably be okay just dealing in cash. However, if you sell more expensive products, like this car accessories and parts company, you may want to consider using a card processing machine. If you already have a merchant bank account, it will not be too difficult to hire a mobile payment terminal for a few days. Your bank can help you with this. If customers are buying expensive products, they often want to pay using a card.
Everything Else: Don’t forget the little things such as carrier bags, signage and advertising materials. Events and markets are often a great place for some advertising and a large banner can help with
