On the weekends to make some extra money, running a flea market booth can be very fun to do. Not only can you make extra money—if you’re in the right location selling the right merchandise—but it can also give you experience in dealing with the various customers who walk into your booth. Plus you can close off your booth when you’re not there after business hours—meaning you don’t have to pack up anything once you’ve moved into the slot.
Basically we are talking about a much smaller version of a commercial store front, except you are not having to pay for utilities of any kind. All those costs are usually covered in your booth rental, other than your mobile phone that it is.
Tips For Setting up a Flea Market Booth:
1. Make sure any and all merchandise items you intend to sell are as clean as possible, especially if the merchandise was acquired from a yard sale and/or estate sale. (Some dealers do purchase from these sources—I know I did sometimes.)
2. Anything that requires electricity or batteries in order for it to work, insure that all of these items have been tested and are working properly before you open your flea market booth for business. (Items that require batteries should have them installed.)
3. If a particular item is not working properly, do your best to fix the problem before trying to sell the item. (If you can’t fix it, it’s best to not sell the item.)
4. Display your items in a professional and orderly fashion on any tables or shelving that you can obtain. Due to size, there are some merchandise items that can be placed only on the floor or against a wall, depending on what the item is.
5. Insure that all items have properly filled out price tags on them. Removable price tags works best:
1. All items must be washed and dried first. Though if they came boxed or packaged from a wholesaler this may not be necessary.
2. When possible place all clothing items on hangers, then arrange all of the garments by size on clothing racks. Keep pants, blouses, t-shirts, business suits, coats, etc., all in their own separate categories. And make sure to separate men, women, and children clothing into their individual categories as well.
3. If no clothing racks are available, make sure to fold and sort clothing items neatly on individual tables or shelving according to garment types. (Do your best to keep clothing items off the floor).
4. Make sure every item of clothing has a price tag on it, which also includes the proper information. Removable price tags works best:
1. Make sure you have at least one roll of coins for each denomination.
2. Make sure you have a sufficient amount of each bill denomination.
4. A notebook with paper and pen/pencil to record certain transactions with as you see fit.
Last but not least:
Many flea market dealers choose to have a name attached to their booth business. This is called a DBA (Doing Business As), and must be acquired through the records building of the town or city they reside in.
In order to acquire a DBA the individual is required to fill out a form that has the requested information listed on it, which will also include the name of what the business is to be called. But before you can give your business a name, you have to search through the records on file to make sure the name you want to use for your business hasn’t already been claimed by someone else….If the name hasn’t been claimed then you’re free to claim it as your DBA; if it has been claimed, then you have to come up with another name for your business.
After you complete the DBA paperwork work and pay to have it filed, then that is your business name. Takes roughly three weeks to get it back in the mail—the time is also used by the system to double check that the name you have chosen hasn’t been used by someone else. Plus you can also pay a dollar to get a legal photostatic copy of the paperwork for your personal records until the original is mailed to you….Once all of this is done then it’s time for a tax number to go with your DBA—this will be in a later post.
The reason for all of the paperwork and legalities is because you are in the process of getting ready to open up a legitimate business, albeit a small business for now. And all businesses are required by law to pay their required taxes, including income taxes for the person who is registering and opening the business.
The reason I say income taxes is because the income your small business is going to be making, once you start making sales with it, will also be considered as income that will be added onto the income that you may be earning via a paycheck from an employer, or other method of income.
A Few Last Details:
Once you have your photostatic copy in hand of the DBA paperwork you filed, you do not have to wait until the original is mailed back to you before opening your flea market booth. But you do need merchandise to go in it, if you haven’t already acquired any. Plus you can get some business cards made up as well to go in your booth.
But always remember, having and running a flea market booth—or any other type of business—does not guarantee you are going to make any specific amount of money. Though setting up and running one the right way, plus being in the right location with the right merchandise can potentially help you to increase your sales from your booth.
And as an added bonus, if you like, you can keep a clipboard hanging on a wall by your checkout or register area. This will be for the purpose of capturing peoples names and email addresses, provided your customers don’t mind being marketed to via emails—strictly voluntary of course for them….
So now that everything has been taken care of, it’s time to go have yourself some fun and bring in some extra money.