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By Allison Tait, ninemsn Money Farmers markets, handicraft markets, artisan markets, food markets, indoor markets, outdoor markets … there's no doubt that Australians love visiting markets, with more than 50 held in Sydney alone. No doubt you've been to one — but have you considered running your own stall?
Whether it's extra money you're after or the launching pad for a new business, a market stall could be just what you need.
"It's one of the best ways to turn a hobby into a money-making venture," says Margie Sheedy, author of The Small Business Success Guide . "It's a fantastic way to test the market and put yourself, and your ability, to sell out there."
Libby Parsons sells her handmade women's clothing exclusively through Surry Hills and Kirribilli markets in Sydney, under the label Zardie .
"I chose the markets as it is a good gauge of whether people appreciate your product," she says. "I see it as a starting point, to get my label known."
For Parsons, the best thing about selling at markets is that she meets the people who buy her clothes. "You build up more of a relationship," she says. And the worst part? "Markets are really unpredictable — you never know if it's going to be a good day or a bad one!"
Whether you're creating a business or simply looking for a way to make ends meet, Sheedy says clear goals are a must.
"Start as you mean to go on," Sheedy says. "Know what you want to achieve before you begin. Be strategic at a very basic level. If you're trying to create a money-making venture, then start doing it the way you want to finish it."
To get you started, here are our top 10 tips for setting up a market stall.
Research the markets in your area
Not all markets are created equal and they all draw different customers. "Visit the different markets to work out which is best for your product," Parsons says. Sheedy suggests talking to the market organisers about who visits and how much they spend. "Don't waste your time taking your products to the wrong market," she says. Visit
www.marketsandfairs.com.au for a full rundown of markets and special events in your state.
Markets cost money
"You'll need cash to start up," Sheedy says. "Money to produce or procure your product plus site fees. Don't forget to factor in your time." Most markets offer "casual" stalls, with some offering the possibility of becoming permanent.
You will need some hardware
Things like tables, chair, marquee or an umbrella will be essential. You could try an indoor market first, if there's one in your area, as these often provide tables. This will give you a chance to test the waters. If you're outdoors, don't forget weights to hold your tent down in case of high winds. A money belt is very important to keep your cash safe and secure.
Don't forget the extras
Read the regulations for stallholders at your market of choice very carefully. If public liability insurance isn't covered in the stall fee, you may need to get some — and some markets will require product liability insurance as well. You will also need an ABN and to work out whether you will need to register for GST. Talk to your accountant about what the Australian Tax Office expects.
Be organised and professional
Have enough money in your "float" to give ready change. Make sure you have enough stock with you. Remember bags for packing customer's purchases — brown paper bags are readily available, cheap and eco-chic. "Be ready when customers come to your stall," Sheedy says. "Have a business card in case they ask. Word-of-mouth referrals are important with markets."
Know your customer
When considering pricing, remember you are selling at markets. "Market customers like to get a bargain," Parsons says.
Think about promotion and presentation
How are you going to stand out from all the other stalls? "Also consider how you might capture customer information," Sheedy says. "Can you create a mailing list to keep people up to date on your next market appearance in the area? This might be particularly useful if your region tends to have markets in different places on different weekends." The list could also be the beginning of an online business.
Get used to swings and roundabouts
"Markets are unpredictable," Parsons says. "Don't be too disheartened if you have a bad day." Basically, if the weather is good, customers may choose to go to the beach instead. If it's bad, they may choose to stay in bed. No crowds equals no sales. But bear in mind that you will need to pay your site fees regardless.
Be prepared for long hours
Markets often require a very early setup and you'll need to stay to the bitter end of the day, even if you're not selling anything. Add in travelling, setting up and unpacking time and make sure you factor this in to your profits. You may find you're working for $3 an hour.
Keep a sales book
Write down what you sell and where. It will give you an idea of what's working at different markets.
Whether it's extra money you're after or the launching pad for a new business, a market stall could be just what you need.
"It's one of the best ways to turn a hobby into a money-making venture," says Margie Sheedy, author of The Small Business Success Guide . "It's a fantastic way to test the market and put yourself, and your ability, to sell out there."
Libby Parsons sells her handmade women's clothing exclusively through Surry Hills and Kirribilli markets in Sydney, under the label Zardie .
"I chose the markets as it is a good gauge of whether people appreciate your product," she says. "I see it as a starting point, to get my label known."
For Parsons, the best thing about selling at markets is that she meets the people who buy her clothes. "You build up more of a relationship," she says. And the worst part? "Markets are really unpredictable — you never know if it's going to be a good day or a bad one!"
Whether you're creating a business or simply looking for a way to make ends meet, Sheedy says clear goals are a must.
"Start as you mean to go on," Sheedy says. "Know what you want to achieve before you begin. Be strategic at a very basic level. If you're trying to create a money-making venture, then start doing it the way you want to finish it."
To get you started, here are our top 10 tips for setting up a market stall.
Not all markets are created equal and they all draw different customers. "Visit the different markets to work out which is best for your product," Parsons says. Sheedy suggests talking to the market organisers about who visits and how much they spend. "Don't waste your time taking your products to the wrong market," she says. Visit
www.marketsandfairs.com.au for a full rundown of markets and special events in your state.
"You'll need cash to start up," Sheedy says. "Money to produce or procure your product plus site fees. Don't forget to factor in your time." Most markets offer "casual" stalls, with some offering the possibility of becoming permanent.
Things like tables, chair, marquee or an umbrella will be essential. You could try an indoor market first, if there's one in your area, as these often provide tables. This will give you a chance to test the waters. If you're outdoors, don't forget weights to hold your tent down in case of high winds. A money belt is very important to keep your cash safe and secure.
Read the regulations for stallholders at your market of choice very carefully. If public liability insurance isn't covered in the stall fee, you may need to get some — and some markets will require product liability insurance as well. You will also need an ABN and to work out whether you will need to register for GST. Talk to your accountant about what the Australian Tax Office expects.
Have enough money in your "float" to give ready change. Make sure you have enough stock with you. Remember bags for packing customer's purchases — brown paper bags are readily available, cheap and eco-chic. "Be ready when customers come to your stall," Sheedy says. "Have a business card in case they ask. Word-of-mouth referrals are important with markets."
When considering pricing, remember you are selling at markets. "Market customers like to get a bargain," Parsons says.
How are you going to stand out from all the other stalls? "Also consider how you might capture customer information," Sheedy says. "Can you create a mailing list to keep people up to date on your next market appearance in the area? This might be particularly useful if your region tends to have markets in different places on different weekends." The list could also be the beginning of an online business.
"Markets are unpredictable," Parsons says. "Don't be too disheartened if you have a bad day." Basically, if the weather is good, customers may choose to go to the beach instead. If it's bad, they may choose to stay in bed. No crowds equals no sales. But bear in mind that you will need to pay your site fees regardless.
Markets often require a very early setup and you'll need to stay to the bitter end of the day, even if you're not selling anything. Add in travelling, setting up and unpacking time and make sure you factor this in to your profits. You may find you're working for $3 an hour.
Write down what you sell and where. It will give you an idea of what's working at different markets.
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