Has anyone here opperated a market stall?
And more importantly, did you have success, make good profit?
Do you know of anybody who has done well out of the markets?
The reason I ask is, I have run a market stall for about 12 months, both Farmers Markets and Lifestyle Markets, with moderate success, but what I have found is it's darn hard to make a quid! By the time you pay the rent, pay for your stock, and turn it over, there is not much change left in the pocket.
I know where my problem lies, and that is my margin... It's too small, averaging around 130% mark up. But when you take out rent and time, that margin gets eaten up bloody quick.
So, I guess my questions to the business brains of this forum is:
What margin do you consider to be a minimum to opperate a retail market stall profitably? Bear in mind I am a reseller, not a producer. Is there a formula?
Secondly, what products, as a reseller, do you consider to be a good mover, non perishable, with the highest possible margin in order to run a successful business?
Thirdly, do you go to markets yourself, and what do you buy?. Do you expect to get a bargain, or do you look to find something unique or unusual?. Do you just go to kill time?
I ask all this, as I am struggling to find a balance between work/risk/reward, but I see 1000's of people going through the markets every weekend, and if you can work out the secret formula, you could have a very nice lifestyle, lunching during the week by the water, with the profit you have made in 2 days work. Another benefit is you can travel around the country, doing markets on the weekends. I am considering doing just that in a Winnebago this year, if I can work out the secret marketeer formula.
Got any ideas?