Every season, a new crop of flea market vendors tries to break through the competition with the hopes of earning big profits and building a thriving business. While some of them find success, others fail, leading to the closure of their business. Here are some reasons why flea market vendors fail. If you want to avoid these mistakes, read on. It’s time to get back to basics!
Standing out from the crowd
There are many things you can do to stand out at the flea market. It’s not enough to have unique merchandise – you also need to understand the trends in the flea market so you can adapt your merchandise to meet customer needs. One example is selling adult coloring books. A flea market vendor from Pine Corner Merchandise was contacted by three potential customers for an adult coloring book on a single day. So, she ordered a small supply and sold out within hours.
The coloring books were the best-selling item at the flea market.
One of the most important things you can do to stand out from the crowd at the flea market is to be friendly and approachable. Many flea market vendors fail because they are not able to strike a balance between being pushy and not ignoring customers. To stand out from the crowd, you need to make yourself memorable and personal. Be sure to smile when you are talking to customers. It shows that you are enthusiastic about your products and that you’re happy to be there. It’s also important to remember that the more popular flea markets become, the more competition there is.
Maintaining a clean space
Many vendors are not aware of the rules that govern flea markets. They are obligated to keep their space clean and leave it “broom clean” at the end of each day. If a space is unsanitary, a vendor’s return privileges will be revoked. In addition, vendors are responsible for any damage to sidewalks, driveways, and asphalt if their canvas cover is too loose or not tied down properly.
While flea markets vary, most require sellers to report sales tax. The responsibility for collecting and reporting sales tax depends on the type of business, how many flea markets the vendor attends, and the state where the vendor sells the merchandise. If you plan to sell your own merchandise at flea markets, you must obtain a sales tax permit. Besides collecting sales tax, flea market sellers must also report their expenses.
The state requires all vendors at a flea market to collect and remit sales tax. In some states, flea market operators are required to register, collect, and remit sales tax. This can be a tedious process, so it’s important to understand what your responsibilities are as a flea market vendor.
Here are some common taxes you must pay:
Selling something different
To succeed at a flea market, you’ll need to make yourself stand out. Competition at flea markets is tougher than ever, and it’s getting harder to catch people’s attention. Fortunately, there are ways to stand out and sell more without sacrificing quality. Here are three ways to make your flea market business stand out from the rest:
Find a mentor who has experience in your field and can offer you advice. If you live in a city without a good business mentor, you can find one for free. Another valuable resource is a support group. Mentors and other new business owners have a strong impact on the success of a new business. Startup Savant offers a free startup founder series and a series on women in business.