To start a flea market business, research flea markets, purchase merchandise to sell, and rent a booth. Starting a flea market business involves market testing, renting commercial space, booth rental and promotion.Continue Reading
Visit one or more flea markets of interest to observe vendors and the overall operation. Find out what type of merchandise vendors are allowed to sell and what is forbidden. Note the flea market's hours of operation and how much foot traffic flows through the venue. Speak with different vendors, and ask questions to gauge vendor satisfaction, then contact the flea market organizer to discuss booth rental costs, equipment, reservations and penalties for breaking rules. Flea market research is also useful for deciding what type of merchandise to sell.
Visit a state government website to find out if local flea market sellers are required to have a tax identification number, and if so, go through the process of obtaining one. Arrive at the flea market early to get the booth ready for customers. Bring a designated cashier to sit at the booth and collect money, or put cash into a fanny pack worn at all times.
If organizing a flea market, do a small local market test before renting commercial space in a large venue. Advertise for vendors, and select vendors that fit best with the flea market business plan.Learn more about Managing a Business