This week we will explore the last part of the Market Stall series.
Please keep the following in mind as you get ready for a market stall:
Create a Script
Create a show pitch, then go through it with the members of your team that will be at the stall, strolling the market, or attending seminars. Do not improvise. You particularly want all the message to be consistent. You want everyone on your staff to become an eloquent and good advocate of your business. By adding up the sales leads you receive at the exhibition, you can assess its effectiveness. then adjust the script as necessary.
Establish connections with attendees
Learn how to enquire. Most exhibitors at the exhibition try to sell people their items. However, you might discover a lot about the buyer if you take a step back and ask questions. Instead of a one-time sale, that results in a long-term connection. Take advantage of the chance to conduct market research on your customers and ask them a number of questions about your products or services. Gather their comments and use them to enhance or improve your products.
It is important to take in consideration of how your customers will pay.
If the likeliness of how most customers will pay is through debit/credit card, you might want to consider investing in an eftpos terminal. See what they have to offer and the rates they charge by speaking with your bank. Another choice is to share with a vendor who is open to having you use their equipment. You will save money by doing this, especially if you are just starting out.
Additionally, it is a good idea to demonstrate to customers that you are willing to take various payment methods, such as Visa, Mastercard, or Paypal. You can connect Paypal, Stripes, and Square. to a mobile device on a smartphone such as an iPhone. You can begin accepting payments as soon as you attach them to your iPhone. And make sure to have a float of $100 so you can easily give back change to your customer.
Calculator & Laptop
A calculator may be something else you want to bring so you can make sure you get the correct amount of money. If you can, keep a laptop on hand and have extra materials, like fresh designs or items, that you may display to potential buyers at your stall. In case you need to recharge your battery, make sure to carry your laptop charger and an extension cord.
Additionally, you must purchase public liability insurance for your market stall; this is crucial in order to protect any customers who could get into an accident there. This is the main finance of the market event.
Before the market event, you must present your insurance certificate to the event organiser. You should have up to $10 million in public liability coverage.
It is well aware of on how frequently goods are misplaced and travel arrangement plans fail. Don’t count on the box of stall supplies you ship arriving on schedule. Make sure you have a backup plan in place for your workers, marketing, and any other necessary items. This aspect is especially crucial for interstate stallholders, who must have a backup plan in place.
Something you can do in Advance
Contacting your clients shouldn’t be left until the opening of the market. Create a flyer for the market with a teaser or deal to draw people to your stall or highlight the unique qualities of your products. You can quickly and affordably create such messages with Microsoft Office Publisher, or you can sign up for a free account with Mailchimp to create your own newsletters. These messages can be sent via email newsletters or direct mail.
Consider a sales goal. Determine your market’s breakeven point. For instance, if your daily break-even point is $500, you are aware that you must reach that amount before you start to make any money.
To produce a certain amount of post-show sales, set a daily objective of meeting three new customers. Setting such an objective will give you the chance to engage your customers in meaningful conversations. Some of the visitors to your booth might be retailers searching for fresh products and new designers for their stores.
There is a chance for you to expand your mailing list, so decide how many new customers you want for the showcase.
Know the location
After you have all of your market supplies at your stall and your vehicle is securely parked, it is time to familiarise yourself with the market. Take a stroll around the area to become familiar with it. Find the market office, introduce yourself to the employees, and ask them how to be reached during the event. Locate the food locations and see what they have to offer. Perhaps you can pack your own lunch or purchase food outside of the venue and bring it with you to the stall.
It’s Show Time!
The first day is the hardest because you don’t know how well your goods will sell or how people will react to them. Here, it’s important to take care of yourself, get a good night’s sleep, and wake up early enough to get dressed and enjoy a nice meal. To allow yourself time to settle in, get to the market at least 30 to 60 minutes before opening. Given that other people have moved in and have likely stirred up the dust over night, you might want to perform a quick final examination of your stand. Get everything ready and be ready to welcome your first customer with a bright smile.
It is important to stay hydrated with water particularly if you are in a place where the recycled air you are inhaling is likely very dry. As you will be standing for the majority of the time, wear comfortable shoes.
End of Show
Let’s assume your market booth was a success and sales were above your projections. This is great because by the conclusion of the show, you’re exhausted and eager to leave for home and start making new products for the next market. You are not the only one who feels this way, though. We all want to finish packing up and leaving the stand as soon as possible.
There are two approaches to this difficult procedure. One method is to organise your packing so you can get everything and leave on the same day, regardless of how exhausted you are, or the second is that some shows might give you an extra day to come back and finish packing. the following day, when you will have all of your energy back.
When you get home, take a break from your studio, but don’t forget about the tasks that need to be completed immediately, like following up on hot opportunities. Don’t allow an opportunity to overlook your offerings or choose your competitors. Make notes about both the good and the bad, as well as any adjustments you want to make moving forward.
Acknowledge that you gave it your best effort while working at the market stall, then make the commitment to yourself to keep improving as you return to your regular schedules in your studio. Commit in these three essential aspects of an artist and designer business.
1. Maintaining a “Creative” lifestyle
Create new goods to generate income to support your livelihood.
2. To maintain the SHINE of your business, promote!
Keep “Promoting” your company and product; if you don’t, no one will know where to purchase it.
3. To keep your enthusiasm alive, refresh!
Finally, you need to “Refresh” by taking time away from your job, spending quality time with friends and family, and finding inspiration every day so you can continue to do the things you love. This will help you maintain your drive.
You’ll benefit from all of these as you get ready for the market. Therefore, if you put a lot of preparation into action the next time you are planning for a market, it will pay off. You can maintain order and reduce your sense of stress by organising everything. In light of this, it is useful to prepare thoroughly to ensure that your market experience is as easy on your mind, body, and spirit.
Enjoy and have fun along the way! Just remember this:
PLAN + PREPARATIONS = SUCCESSFUL MARKET
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To your success, Vinh Van Lam and Stuart Horrex, Cofounders