Insiders Secrets to Flea Market Profits by Bud Austin - HTML preview

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Chapter Thirty Six

Sell Your Own Products

Some vendors make and sell their own products. There can be big money in this.

Making and selling your own product is such a detailed business that it would fill another complete book.

I have done a lot of this over the years. It’s a neat way to sell. Usually, you have little or no competition and, if you do it right, a very large mark-up on the selling price (like something that you make for 5 cents and can sell for 3- 4 dollars)!

Note: A complete guide is in the works. If you are interested, sign up now for a pre-publication notice. I’ll let you know before the book goes public.

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In Conclusion

Let’s wrap up some of the main points of this book:

Wal-Mart rules the price world. If they sell socks at $3.25 for 3 pair, then you cannot sell them for the same price. Yes, you can buy the same socks by the dozen at wholesale. Forget about selling them at the same price that Wal-Mart gets. This just will not work. You must go lower. That means goodbye to your 3x mark up.

It can still work.

The trick? You must locate a market with a large attendance; one that you can really move a lot of socks out of. The large volume of sales makes up the

difference. If you can’t find such a market, forget socks!

When you buy right, you have room to negotiate a little better price with your customer. Often, this is as easy as telling them that the more they buy the more they save.

As you travel around the different markets, you will notice some product “gaps”

This could be a great opportunity for you. Sometimes, the local dealers just don’t know where to buy certain kinds of merchandise. On the other hand, it could mean that there is no interest in this kind of merchandise - like trying to sell Afro-American stuff at a Southern Red Neck market or trying to sell Native American stuff in Southern Texas. It will not work!

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for 25 cents each and have a good day, you still might not have made enough

money to get out of town! Go figure, 125 sales @ 25 cents each??

There are no rules about the selling price of your merchandise; use the 3x mark up only as a guide.

Watch out for counterfeit merchandise. Sometimes, a dealer will want to unload a bunch of stuff just to clear his own tracks. It is a Very Risky Business to sell counterfeit, or “knock-offs” as they are often called. It can lead to heavy fines, property seizures (including your rig), prison and sometimes even a heart attack!

Check out what the successful dealers are selling. This could help you find a niche product that they don’t have.

Check out the busy booths. What do they look like? How are the vendors

dressed? Are they sitting down in the back of their booth or are they up front, talking to customers?

Make sure that your merchandise fits the market. As I said before, do not put ethnic stuff out in a market that hates ethnic products.

Dress right for what you are selling.

Don’t expect to sell high-end jewelry off the tailgate of some old broken-down pick up.

If you take the High Road…. sell high-end products.

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Try to be as self-contained as you can afford.

Carry as many spare parts as you can afford. Just a water pump and spare starter and a couple of belts will give you a lot of peace of mind.

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Glossary of Terms

Banana boxes…….sturdy cardboard boxes that bananas are shipped in. These can be had free just about everywhere.

Big Dog……… A large expensive rig, a high-end operation.

Dog Merchandise…..stuff that will not sell or is poorly made.

Down and Outers…. vendors that are having money problems, usually always.

Flak….. complaints and unnecessary attention sent your way.

Hard Luckers… vendors that have had sudden money problems, usually over and over.

Hawkers…. vendors that try to talk customers into their booth, usually with a loud sales-pitch.

High Road…. vendors that run with the “Big Dogs”.

Kill You Off…. put you out of business, a punishment kind of thing.

Knock-offs… counterfeit merchandise.

Low Profilers… vendors that try to keep away from the spotlight, just the opposite of the “Big Dogs”.

Low Road….. vendors that keep a low profile with their business and their travels.

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Mail forwarding…. rent-a-box type of business that forwards or keeps your mail until you tell them where to send it.

Red Neck Market…. Narrow-minded, prejudiced and hate filled “good old boys”

that are blind to everything outside their very small world.

Rig… Type of vehicle that you travel in; motor home, van, car or truck etc.

Road Carney… Traveling “Hawkers”.

Road Insurance… Merchandise that you can trade or sell fast for cash.

Texas Tens… One-Hundred-Dollar Bills.

Unload Get rid of unwanted merchandise.

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Confidential Sources of Supply

This information is not to be shared with the public

Swap Meet…………..National Magazine for Flea Market Vendors

Published by Forum Publishing Company, 383 East Main St Centerport, NY

11721

Tel: 631-754-5400

Online: www.wholesalesources.com

East Coast Merchandiser….America’s Leading Wholesale Buying Guide

Sumner Communications, 24 Stony Hill Rd, Bethel, Ct 06801-116

Tel: 203-748-2050

Online: www.wholesalecentral.com

Wholesale Merchandise

5900 Wilshire Blvd., Ste. #510, Los Angeles, CA 90036

Tel: 1-800-600-7040

Closeout News

5900 Wilshire Blvd., Ste. #510, Los Angeles, CA 90036

Tel: 1-800-600-7040

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Online: www.thecloseoutnews.com

******************************************************************

US Government auction sites:

http://www.ustreas.gov/auctions/

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Businesses That Work

Here is a list of businesses that I have seen making money.

Of course, it all depends on your set-up, your displays, the kind of market, the time of year, the weather, how you handle yourself and all of the variables that come into play.

Nothing comes with a guarantee.

Antiques and Collectables

Blue Jeans

Books

Cast Iron cookware

Coins

Cookware (used)

Dents and Bents (food in cans from grocery stores)

Fishing supplies

Hats and Caps

H & B’s in Banana boxes ( Health and Beauty supplies)

Hunting supplies

Incense

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Jewelry

Military surplus

Pet supplies

Reading glasses

Socks

Sunglasses

Tee shirts

Tools

Watches

Of this list, I have personally sold everything but cast iron cookware, dents & bents, incense and blue jeans.

You can take any of these products and fill up your whole display with them. All of these items have their merits and their demerits.

Many other products with great potential are not listed here. The list is endless. If one thing doesn’t work, try something else!

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A Sales Tip

This sales method can work wonders, sometimes…

The Third Man Out

Talking to a divine spirit

A hand held two-way radio can be used as an incredible sales tool.

Here’s the procedure: A customer makes you an offer to buy something for less than the asking price, you say, “Well, let me check with the boss.” You call up your partner who is not in the booth. They could be anywhere, in the bathroom, still in the rig or walking the market.

It doesn’t matter. The fact is that an unseen and unknown voice is in control of the deal.

That is what matters.

This “voice from somewhere else” makes the rules. When you relay the price back to your customer, they somehow seem to accept this as if it were written in stone!

It may take more than one call to make the sale.

I’ve seen this used many times myself, often with great success.

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From a Female Point of View

Tips To Help Your Partner along the Trail

My lady told me to include this from her viewpoint!

Get a pair of hand held personal two way radios

They help with parking a rig, especially when backing up into a parking

spot.

More security when making pit stops, never leave the rig without one.

Use whenever you are away from your booth.

Bathroom Procedures

What to take:

Always take shower shoes, toilet paper, soap, disinfectant spray and a whistle.

Keep your two-way radio handy in a zip lock bag.

Make sure he has his turned on and on the correct channel!

An over-the-shoulder type of bag is just right to carry all of your necessities.

What not to take:

Do not take money, your wallet, jewelry or anything of value. Just the basic stuff, including your two- way radio

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Know the prices of the merchandise:

Make sure he tells you the price of everything and that they are marked clearly on all of your products.

This saves a lot of arguments.

What food to take with you:

Take easy-to-make meals with you.

Don’t try to be a fancy cook on the road. You will be as tired as he is at the end of the day and the last thing either one of you need is extra time in the kitchen!

Clothing to take:

Don’t overdo it. Remember if you are working flea markets there will always be clothes available.

Driving:

Don’t let your partner drive too long. This makes him tired and probably puts him in a bad mood.

Breakdowns

Stay on the sidelines until he cools down a little.

What not to do:

× If you break down along the side of the road, it is not the time to pull the “I told you so” routine.

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× Be as helpful as possible and do not panic or put on a show!

Displays:

Women are usually better at this. Make sure he gets the message.

Helping With the Set-up at Markets

Help as much as you can with the set-ups. Let him pick up the heavy stuff.

Save yourself for working on the displays.

Try to work out a routine for setting up and taking down. It makes things go a lot faster. This is real important at the end of the day when you are both tired.

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Odds & Ends

Make your own tables:

Most vendors that travel, make their own tables. Usually, they buy the fold-up legs that are available at booths which sell dealers’ supplies.

Next, they buy a sheet of ½ inch plywood (4 foot by 8 foot) and cut it in half long-ways. This gives them two table-tops, each 8foot by 2 foot. They usually carry at least four of these tops with legs to match. Most of the legs are sold either as singles or by a five- pack. Expect to pay anywhere from $5 to $8 dollars each. It all depends on the local competition from other suppliers.

A good price would be $25 dollars for a 5-pack. These plywood tops are sharp on the edges. I always sand the edges to eliminate splinters. The corners are also sharp. I cut the corners off and sand them down. It is no fun to have a customer ram into a sharp table corner. It’s no fun to catch a splinter in your hand when you are handling them.

Table Covers:

I personally, like the plastic covers that have fabric backing; the stuff that is used on chairs and couches. You can often get remnants from fabric stores.

This stuff comes in a bazillion different colors. Try to pick something that will not distract from your merchandise. I personally use a black textured one for jewelry.

With my showcases, I put out a nice dark-brown. The stuff comes 54 inches wide.

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down in the front. If a sudden rain comes up you can flip the front up and back over your merchandise, then clamp it down.

The stuff is strong and waterproof. With the drop-down in the front, you can store your packing boxes under the tables out of sight. It helps give your booth a professional look. $$ ☺

Vendor awnings:

If you work out in the open, you will need an awning to keep you out of the sun and rain. These awnings are usually made in 10 x 10 foot or 10 x 20 foot.

The frame is made of pipe and all the corner fittings are removable for easy storage and set–up.

Prices vary a great deal with these canopies, so shop around a bit before you buy one.

I personally like the 10 x 20 size. In some markets, you can get by with just renting a single 10 foot booth and running your set-up back a full 20 feet. This makes for a nice walk-in type of set up. If you get the right parts, you can make your 20-foot booth into just a single 10-foot booth.

Flexibility is the key to go for.

Tarpaulins:

There are a lot of different kinds of tarps for sale.

For the long run, I like the heavy silver ones with the reinforced corners.

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Do not believe the ads on the package covers. They all say heavy-duty,

professional etc. You can tell the difference by how heavy they are and by the higher price the dealers get for them.

Why silver? The silver tarps reflect the infra-red heat the best. White is nice, but you can feel the heat right through them! If you plan on working any fancy events, get the white ones for your top and side curtains.

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Another eBookWholesaler Publication

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Insiders Secrets to Flea Market Profits by Bud Austin - HTML preview

Chapter Thirty Six

Sell Your Own Products

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