Flea markets and swap meets are big business these days. Like a television show Flip the flea market And The storage war The reseller industry has catapulted. Before you start a flea market business, though, there are a few things you should know.
Can I make money as a flea market seller?
While some people make a full-time living as swap meet sellers, most do it for some extra cash and because they enjoy the atmosphere. It won’t be a get-rich-quick opportunity, but you can make some good money by learning and adapting to the market. On the upside most require little initial investment.
Costs of running a flea market business
table rent – This will vary quite a bit depending on whether the market is indoors or outdoors and whether you want an electrical hookup. A larger indoor market in Omaha offers a week’s worth of 8×10 rentals with electricity for just $28. In California, on the other hand, you might be paying that rate for a weekend day. You can locate registered flea markets in your area Flea market zone.
Professional license – Many flea markets and swap meets require you to have a professional license. It is earned through your county and purchased on an annual basis.
sales tax – You must collect sales tax on any items sold. Some flea markets will collect it from you at the end of the day. If you are a licensed seller, you can submit directly to the state.
Product sales – The wonderful thing about these places is that they welcome almost any vendor. While there are markets that specialize in antiques or handcrafted items, most don’t care if you’re selling $0.50 plastic party favors, cleaning out your garage, or moving Persian rugs—as long as it fits your booth and isn’t illegal or inappropriate. For family events.
For that reason, it’s a great place to start testing the waters of becoming a reseller. Clean out your closet, attic and garage. You will probably get more foot traffic than holding a yard sale. If all goes well, start looking for items to resell outside of your home. Here is a great list of things to sell.
Before you launch your flea market business
Before starting a flea market business Get to know the industry. Swap meet shopping. Soak up what sells and for how much. Listen to the conversations of your fellow shoppers. What are they looking to buy?
You also need to give some time Shop to talk to their vendors. Ask how they got started. Do they have any tips or things they would share with a newbie? How do they prevent theft, which can be a major concern at swap meets?
Talk to flea market organizers. What licensing is required? Do you need a tax ID or insurance? Do they provide tables and chairs or do you need to bring your own?
Finally you need Write your business plan. What products do you sell? How do you accept payment?
Keep good records. Not only will you need your business records for taxes, but you can make sure you are stocking up on inventory that sells.
Think about marketing. Consider getting business cards or making t-shirts with your business information on the back.
be approachable. Flea markets are about friendly. You’ll see the same customers and vendors week after week. Make friends. Be open to discussion. Establish long-term relationships that could potentially lead to more profitable ventures.
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