If you are handy at arts and crafts and you fancy making some extra cash, you might want to consider selling your wares at a local trade market. Here are some top tips on making your venture a profitable success.
It's vital that you pick the right market to sell your goods at. For example, if you grow your own fruit and veg to sell, there's no point in taking the produce to a jewellery fair! To make sure that your application to trade is successful, make sure that you have the necessary trading certificates in place—for example, a food hygiene certificate if you make cakes, pickles, etc.
Well in advance of the market day, check out the competition. It's really important that you are competitive on prices if there are similar products to yours on sale. This may mean that you'll need to do some legwork before the day of the market, but it will be worth it in the long run. If possible, try to make sure that you have products that are different in some way from your competitors, even if they are similar.
Even amateur stall holders need to have public liability coverage in order to trade. You might also want to take out coverage for your stock in case of theft or damage. The premiums for this are not expensive and your trade market representative or supervisor will be able to help you source suitable coverage.
On the day
Make sure that you have plenty of stock to sell! Although it's better to sell out completely than to take stock home with you, you don't want to turn people away, simply because you didn't pack enough.
At busy times of the year, for example at Christmas trade markets, you may find that you are extremely busy. No-one wants to stand for ages waiting to be served so you might want to think about recruiting a few family members or friends to help you man your stall for the day. Make sure that you run through the processes of serving customers quickly and efficiently so that everyone knows what to do. You should also invest in a till. This makes it easier to keep track of your takings and gives you somewhere to keep the cash, rather than just stuffing into your pocket where it could get mislaid.
Making a little extra cash towards home improvement projects by selling home-made or home-grown products is great fun. Use the tips given above to help you make your first foray into trade markets a roaring success.