Make The Most of It

WOOO HOOOO.......

We made it through the first half of the year, so we are just happy to be here.

As a vendor, we do not always plan ahead. We sometimes do not take the weekend or mid-week day at the flea market that seriously. We sometimes forget that this is a business. We often forget to pay attention to the details of running our operations, regardless of how small (or big) they are.

A couple of months ago I advised flea market vendors to take it seriously.

Today, I want to reiterate by saying: "Make the Most of It".

Treat the flea market as the corporate headquarters for your Fortune 500 hundred company. Treat it as though you were running a multi-national corporation. You are the Chief Executive Offer, and the janitor. Treat the market as is your front-line, your board room, your weekly sales meeting, and your customer service center all in one.

Make the most of it. I've often said that some of the most brilliant business minds can be found in flea markets, just study Tommy Hilfiger, so why not be one of them?

With the low costs and low risks associated with being a flea market vendor, you should be able to afford to try new concepts, projects, or items. You can afford to make a mistake here, so make the most of it. Where else can you get instant feedback from the customer?

So again, as you approach the first weekend of the second half of the year as a vendor, make the most of it. Network with other vendors, see what items are selling, look at how other CEOs manage their enterprises and learn how you can increase your bottom line.

Take the market seriously and make the most of it.

Happy and prosperous vending.

-FMN

Flea Markets Gaining Ground

In the retail hierarchy, flea markets have traditionally been on the bottom rung, but as the economic downturn continues to broaden, flea markets are starting to look more attractive to vendors and buyers alike.

In years past, the top of the retail food chain would generally be considered to be high-end boutiques, followed by specialty stores, then upscale malls, followed by midlevel malls and box stores. From there you have strip malls, supermarkets, corner stores, and eventually flea markets. The only thing lower down would be thrift stores, but they are in a class by themselves.

As the number or unemployed Americans nears the 5 million mark, flea market owners and vendors a poised to have a better year than most expect.

After 12 years as a vendor in flea markets in the northeast and southeast of the United States , I am of the opinion that the national economic downtown might be a boom to flea markets for three distinct reasons.

1) Shoppers can stretch their dollars further when buy at flea markets as opposed to shopping malls and grocery stores.

2) As home foreclosures soar, many one-time owners might turn to flea markets to sell their belongings as opposed to paying storage.

3) As store owners are forced to close their doors, flea markets offer an economical means to off-load inventory.

So whether your are shopper or vendor, your local flea market might be a great place to make a buck or save a buck.

-FMN