Setting up your own market stall is a great way to increase sales and the visibility of your brand at a much lower cost than opening a permanent shop. Markets are also a fantastic place to find a certain demographic you may be targeting, including people who are looking for local or eco-friendly products.
So, if you create handmade products or have an idea of products you’d like to source and then sell at your stall, here are some top tips on how to run a market stall and grow your small business.
Make Sure You Facilitate Easy Payments
When running a market stall, you may not have all of the equipment that you would usually find in a regular shop, but one thing that is absolutely essential is a reliable and quick card reader. If customers find it difficult or time-consuming to purchase your products, which may be the case if your stall only accepts cash, they may be less inclined to make further purchases at your stall, even if they like what you have to offer.
To avoid this, you can set up an account with a company like Payanywhere to get mobile credit card readers, allowing your customers to make contactless payments with their card or mobile phone.
Understand Costs and Regulations
Although a market stall is cheaper to run than a shop, there are still some costs you should be aware of. Before you set up your stall, it’s essential that you obtain a license so that you’re legally allowed to sell your products at a market. Then, you’ll need to pay for a spot at your chosen market for however long you wish to trade there and pay for any equipment you’ll need.
Research Different Markets
You can’t run a successful market stall without researching which market you’d like to trade at. This is a very important decision as you’ll need to consider what kind of people visit particular markets. For example, a city market could attract a young and trendy crowd looking for unique, eco-friendly products, whereas a market in the country may attract more farmers and older customers or families.
Make Your Displays Attractive and Eye-Catching
Just like an online business relies on the appeal of its website, your market stall will need interesting displays to attract customers. Make sure to stick to a consistent branding strategy so that your displays reflect the personality of your business and look professional.
Use Social Media
Having an online presence can certainly boost your brand and attract more interest in your market stall. You could show your business’s social media handles on your market stall displays to encourage customers to follow you online and keep up with the latest developments, which could increase the number of customers making repeat purchases.
If you don’t want to open your own shop but equally don’t want your business to remain solely online, a market stall is a great option for helping your business grow at a reasonable cost. Markets are also a fantastic place to find particular customers who may be the perfect target audience for your business, especially if you sell handmade and unique products.