What to do About a Slow Flea Market Business Economy?
I recently received an email from Ron in Florida who states:
“Bob, We are at the Pasco county flea market and have been since September of this year and the economy is terrible and haven’t found the right niche with the people who do go there. There is around 70 to 80% of old people who go there and they walk around like they are half dead and don’t seem to be buying anything. This is in Florida.”
My response to Ron was:
“Well, you bring up an excellent point.
I have a couple of thoughts: First, if we get real basic, we need 2 things to be successful in a flea market business. One is traffic or people. Without them, it doesn’t matter what our product is, we won’t sell anything. OK, now all that traffic has to buy our flea market items, I call that conversion, as we need to convert that traffic into traffic that buys stuff.
So, if you are at a flea market where the traffic (people) don’t buy, then don’t waste your time at that market. Find a flea market in a nearby town or city and scope it out to see if folks are buying. If you are in an economically depressed area where people go to the flea market just to take a walk, then you will have to find another market.
So, go to a different flea market, and see if folks there are buying. If they are, then find out what kind of products they are buying. Take a note pad and write it down. Those are the kinds of products you should be selling. I’ve seen some so called flea market “experts” tell people to try to be unique and don’t sell what others are selling. Well, I got news for them, those flea market vendors that are selling stuff have figured out what sells. You need to sell what they sell, only do it better, or slightly different, or sell those products back at your original flea market. Then, after you are able to at least start selling those flea market items, experiment with other flea market items to expand your offering, but only little by little so you can test the market before taking a big leap. See the results and make adjustments.
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