You want to start a Market stall? That’s fantastic! Here is a short guide compiled to help you get on your way. There are a couple of things that are necessary to consider in order to have a successful Market stall.
1. Decide on what you are going to sell
You can base your business on a crafting hobby such as making cards, jewellery or sewing clothes which you can then sell in your market stall. You can also buy products from wholesalers in bulk to sell on to your customers at the market. An important thing to consider is that, in order to maximise your profits, it might be a smart idea to look for a more unique or niche item to sell instead of the more common products such as jewellery.
2. Find a Partner
Running a market stall is hard work and requires long hours. Having a business partner allows you to be able to go on toilet breaks as you can leave your stall safely in the hands of your business partner. Also, as it is a cash based business, working with someone else is safer and makes it harder for someone to attack you and take your earnings. When looking for a business partner, some things to consider are:
- Is this someone you can trust?
- Can you get along with them for long periods of time?
- Do you have similar values and ideas?
- Do you have the shared goals in the purpose of this venture?
- Do the expectations, work ethos and requirements you expect of each other match?
If you are looking for a partner for your market stall, feel free to contact us and we may be able to help you find other like-minded learners as part of the e3 project.
3. Choose a market that best represents what you want to sell and the demographic you are targeting
Now that you have decided on what you will be selling and found the perfect partner, the next step is to find the right market for you and your product. Across London, there are over 80 different markets, each with its own specialism and target audience. You can find a list of 20 London markets here. The Columbia Road Flower Market in East London, for example, specialises in selling flowers and is open every Sunday. As a result, it is ideal for someone who also wishes to sell flowers in some form and who wants to work on the weekends. Look at the various markets London has to offer, perhaps even visit them to give you a better idea of its fit for you, before deciding where to set up your market stall. After you’ve decided on the market, depending on whether it’s a local/council owned market or private market, you will either have to contact the council in which the market is situated in or in the case of a private market, you will need to speak with the Market Marshall/Major. Another tip would be to speak to other stall holders and get there bright and early (preferably before 8am) to be in with the best chance of getting a stall. Sometimes you may be told that the market you wanted is not possible but check around the local area, you may find a smaller market situated nearby that you can get a stall in, Camden being a good example of this.
4. Transporting the goods
The next thing to consider is how will you be transporting your wares to the location of your market stall. Depending on what you are selling, if it is small enough, it may be possible to transport your products in a shopping trolley or a large backpack. For larger products such as photo frames or furniture, you may need to have access to a van. Maybe a friend, partner or family member would be willing to drive you down with your products. The most important thing to remember is to stay committed so that you can see the fruits of your efforts. Best of luck with getting started!