This slideshow requires JavaScript.
Setting up a market stall is a great way to introduce your unique product to the marketplace. This is also a great way to test your market and get valuable feedback from the public. Here are some top tips for those who may like to introduce their most prized products/ service in a market stall setting:
Be prepared
The amount of planning involved takes longer than you think. I’ve set up a gift wrapping service stall at my local market. I only had 24 hours to source all the materials as it was a seasonal opportunity. I learned that there is always room for improvement in how to display your service, how to decorate, how signage is so important to tell customers what you do. Don’t under estimate the length of time required to prepare for your first day of trading at the market.
Do Your Research
Different markets operate under slightly different rules so it’s worth chatting with the market manager for some advice and tips on how to run a successful market stall. Daily rates are available to hire a stall but Traders are responsible to fully decorate their stalls. Unless you are a permanent trader, stalls are usually assigned on the morning of trading day. So there is a potential you may get turned away if demand far outweighs spaces available. This is important to keep in mind, especially if you plan to sell food or perishable goods. There is a chance that you’ve baked all those cupcakes and have no market stall available on trading day.
Be Resourceful shopping for supplies
There are many wholesalers and suppliers available online to help make showcase your products beautifully. Good, large, easy to read signs will make your stall stand out from the rest. Consider colour schemes, and general decor when dressing your stall so that you maximise impact and attract the most customers on trading day. Be sure to confirm exact dimensions of your stall before buying equipment such as drapery for decorating to avoid a poor presentation on trading day. Below are a few useful links to get your creative ideas started…
Cakes & Cupcake display stands
Lights On!
Always get into the head of your potential customers. What would most likely draw customers to your stall? How will you display your products? Do you plan to drive revenue based on competitive pricing or on the uniqueness of your products? There are many display stands, market stall supplies, sign and poster providers that can enhance the overall feel and look of your stall. For example: A market trader who sells handmade cards will benefit from card display stands for the counter top or floor based stands to showcase the products. Lighting is extremely important especially during winter months when it gets dark by 3pm. (don’t forget to buy power extension cords to light up your stall)
Too much clutter can backfire
Most customers will only have time to pass by each stall once during their visit, so be sure to stand out from the crowd by having good signage, pricing and explanation of what you do. Although you may have tons of products you would like to show your customers, extra care is needed to consider placement of each item. Try not to clutter your stall by randomly placing products all over the table. Try to be creative by pinning or hanging some products on the side and at the back of your stall. Spend time to create a warm and welcoming, clutter-free market stall for your customers.
Sticking to a budget!
As with most successful business, a well thought out business plan is key to help you focus and not lose the end goal. Who is your market? What will your start up capital be? Avoid going shopping until you’ve completed your budget to keep cost down and under control. I find when I go shopping without a shopping list, I always find myself spending 50% more than I have to. By being organised and resourceful, I only needed under £200 to start my stall. If I had more than 24 hours to prepare, I would be able to save more on cost.
Here is a sample of a simple budget for my gift wrapping stall.
Sample Budget – Gift Wrapping Market Stall “Wrapped with Love”
Tags: Brick Lane market, budget, Business Planning, business support, Camden market, Greenwich market, how to start a market stall, London Borough Market, market trader, Set up a market stall, Spitalfields market
Thanks to all who wrote in to ask questions about starting a market stall. I have re-posted the following two blog entries for easy reference. Happy selling!