Flea markets are great places to make some extra money on the weekends, or to even make enough money to supplement a lost job.
As part of my wholesale business I once sold at flea markets, and now supply flea market vendors with wholesale products.
Based on my experience, and feedback from flea market vendors, I have come up with a list of strategies for making money at flea markets.
These strategies require you to apply them to the flea markets that you sell at. You might want to make modifications based on the shoppers at your flea market, and the products which you sell.
Always have a large quantity of merchandise at your booth. People are attracted to quantity, so if you want customers to come to your booth, make sure your booth looks fully stocked up.
Variety is the key for your flea market business. Your customers are looking for more than one item. The more products you offer them, the more that they can buy from you.
Always price your items so that multiple purchases receive a discount. Your goal should be to sell out your merchandise at the end of the day. You can always reorder, so why not sell out? As long as you make a profit on the sale, always encourage your customers to buy more by giving them a lower price.
Set up your flea market merchandise so that your booth looks like a professional business. If you treat your booth like it’s a real store, so will your customers.
Have a flyer printed up with your business name, booth number, and merchandise offered. Enclose a flyer in each customer’s bag, this way they will remember you and come back next week.
Donny Lowy is the CEO of the following wholesale and closeout businesses.