Flea markets are traditionally known for vendors to sell physical goods. But if you're thinking of going beyond the norm of tangible products, there are some thoughts to take into consideration before committing to a service venture at your nearby flea market.

Flea Market Regulations

For whatever service you're trying to offer, it's best that you contact the flea market operator before you start executing your flea market business plan. Do understand their rules and regulations regarding service-based businesses and also inquire about any permits or licenses you may need to operate legally. Chances are you will be asked to fill in a form and mention the sort of service you wish to offer. The more the details, the better. While patience is a virtue, you don't have to sit around waiting for them to respond. The next thing you should do is perform a flea market reconnaissance. Read on.

Flea Market Recce

Do you remember seeing any services the last time you went to the flea market you're targeting to sell at? If so, then there's a very good chance that the flea market operator is open to this idea. Nonetheless, it's best to contact the organizer and chances are you will be asked to fill in a form to mention what sort of service you wish to offer. You also should consider the feasibility and viability of offering your service in that market. Now, feasibility and viability are two different aspects. Feasibility refers to the practicality and possibility of offering a service. It assesses whether the business idea is achievable and can be implemented within the constraints of resources of the flea market. Thus, you need to evaluate the accessibility, facility, weather or climate, regulation and so forth. For example, if you're planning to offer a hairdressing service, will there be enough power supply points given to each vendor? Could you drive your vehicle all the way to your designated spot to set up your heavy equipment? Is there a canopy provided or do you need to bring your own? The list of questions goes on.

Target Audience

Understanding the demographics of the flea market attendees is crucial. If your intended market is Gen Z and the flea market is mainly selling antiques, you might be way off your target. But most flea markets have a broad appeal where all walks of life gather to get the best bargains. Considering this, your service should not be so premium that it goes beyond the budget of the average visitor. For instance, you should not be selling custom-made designer clothing when people only intend to buy jumpers and t-shirts at wholesale prices.

Setup and Presentation

Unlike having physical products where you can line your stall with, a service business often lacks the tangible items to display. Therefore, you should plan ahead on how to attract potential customers to your booth. It goes without saying that you should have at least a banner stand or a poster that is vividly displayed to passersby so that they know what you're offering. You also need to display your prices. Using chalkboard sign is a practical technique for pricing your service, especially when you just started out and are unsure of how much you should sell your service for. This makes it easy to erase your old price and write a new one as you test the market. That brings us to our next topic.

Price Structure

When you're just starting up, it's always conducive to be flexible in your pricing. Most things are still unknown to you and you need to gain as much traction as possible. So, don't be afraid to test the market with different prices. You could start with a low introductory price to get more early customers. From there, obtain as much feedback as you can from them to further strengthen your offerings. Once you're confident you've achieved the right formula, you can drop the introductory discount and use your nominal pricing. This way, old customers should understand that what you offered initially was just a short-term discount and there's no pressure on your side to always slash your prices.

Last Consideration

By addressing these considerations, you can increase the likelihood of a successful experience selling a service at a flea market and adapt your strategy as you carry as you go along. If you're sold on the idea of offering a service, consider this list of service ideas to sell at flea markets.