Flea markets are traditionally filled with people browsing for a deal. Sellers at a flea market typically fill their table with items picked up at garage or yard sales for a very low price. They then turn around and sell the items for a higher price at a flea market.
If you love shopping for a bargain and selling items for a profit then a flea market business may be the ideal small business for you.
How to Get Into the Flea Market Business
Your first step in starting a flea market business is to gather an inventory of items found in garage sales, yard sales and even second hand stores. You will want to set up an area in your home that will allow you to store your flea market inventory.
You will then want to set up an office area in your home that will allow you to schedule your time between searching for items and selling items at flea markets. People experienced in the flea market business often hit yard sales very early on weekend mornings to snatch up the best deals, and then set up their booth in a flea market on weekend afternoons.
Your office area will also give you a space to budget how much you are spending on yard sale items, and allow you to identify how much to charge for reselling items. You will want to ensure that your flea market business is not just gathering inventory, but is making a profit.
Skills Needed:
To succeed in the flea market business, you have to have a very keen eye for what sells well. Being a skilled bargain shopper and a skilled negotiator will be the keys to running a profitable flea market business.
Strong people skills will take you far in the flea market business. You will need to win over your customers and sweet talk sellers in this business, and a likeable personality and effective communication skills will help you to know what to say and how to say it.
Time management skills will allow you to split your schedule properly to allow for enough time to bargain shop, as well as flea market sell.
Experience Needed:
Retail experience will be helpful in your ability to talk with customers. But the most valuable experience you will gain will be in negotiating prices. If you are not an expert in yard sale dealings, make sure you get lots of practice prior to starting your flea market business.
Having a good understanding of how flea markets are run, how to competitively price your items, and how to attractively set up your flea market booth are all skills you will pick up with experience in working in a flea market.
Frequent many flea markets, and study how people run their operations. Also scout out which flea markets are most popular and populated, so that you can make sure you are working at the best flea markets.
Startup Requirements:
Your initial investment will be in the purchasing of yard sale and garage sale items for your flea market inventory.
You will also need a reliable vehicle that is large enough to transport you and your flea market inventory from one flea market to the next.
Once you have your yard sales mapped out and a spot reserved at a popular flea market you can begin buying and selling your way to profits with your own flea market business.
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