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Contents
Introduction
Lesson 1: How To Easily Locate Flea Markets And Swap Meets
1.1 Ten Questions To Ask At Flea Markets And Swap Meets
Lesson 2: How To Select Items To Sell
Lesson 3: Sources Of Brand New Merchandise, Part One
3.1 Dollar Stores
3.2 Sales Circulars And Newspaper Inserts
3.3 The Back Of The Package
3.4 Google And Other Online Search Engines
3.5 eBay
Lesson 4: Sources Of Brand New Merchandise, Part Two
4.1 Flea Market And Swap Meet Papers
Lesson 5: How To Get Catalogs And Wholesale Price Lists
;
5.1 What To Do When The Catalogs Arrive
5.2 Order And Item Minimums
5.3 Return Policies
Lesson 6: Placing Orders And Getting Merchandise.
6.1 Writing Your First Order
6.2 Backup Items
6.3 Paying For Your Merchandise
6.3.1 Pre-Paid Debit Cards
6.3.2 C.O.D.
6.4 Calling And Placing Your First Order
Lesson 7: Receiving Merchandise When You Don't Have A Street
Address
7.1 An Unadvertised Bonus For Those Who Travel (Or Would Like To)
Lesson 8: How To Determine The Per-Piece Shipping Cost
Lesson 9: Getting Ready To Set Up
9.1 Organization
9.2 How To Easily Create Attractive, Affordable Displays
9.3 Business Equipment
9.4 How To Count Change
Lesson 10: Your First Day
10.1 Reserved Spaces
10.2 Unreserved Spaces
10.3 Selling
10.4 Signs
10.5 Making Your Space Stand Out
10.6 Pricing
10.7 Determining Profit
Lesson 11: The Step By Step Plan In A Nutshell
Lesson 12: Safe Cash Management
Lesson 13: Creating Semi-Permanent Setups
13.1 On Site Storage
13.2 Enclosed Storage Trailer
Final Words
Introduction
Welcome!
You're about to discover selling at flea markets and swap meets is a great way to make a very
good living!
Not only is it a lot of fun, it is one of the easiest and lowest-cost ways to start your very own
small business. You can actually make a full-time income just working on weekends!
You'll finally have extra time and you'll get paid in cash!
No messing around with personal checks or credit cards (unless you really want to).
It is based on a very simple business model: buy brand new merchandise at low wholesale
cost, items people can't wait to get their hands on, and sell it to others for more than it cost
you. You get your original investment back plus a very good profit of two, three, four, and even
five times your cost!
And you just do it over and over and over. That's all there is to it!
McDonalds, Wal Mart, Microsoft, They All Know The Secret To Success:
Find One Thing That Works...And Then Just Keep Repeating It!
You're going to find selling at flea markets is one of the easiest ways to earn a wonderful fulltime income just working a couple days per week.
There are very few real businesses that can be started for just a few hundred dollars. Most
require bank loans and money out the wazoo before you even earn your first dollar, but not
this one.
There are no franchise fees, no credit checks, no need to invest large amounts of money
before you make your first dollar (of course, the more merchandise you begin with the quicker
you'll begin making the 'big' money) and you can operate your flea market or swap meet
business on weekends while still working at your regular job during the week.
You can start small and let your business build itself.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
This is one of the few actual small businesses that
can be started with only a few hundred bucks!
It can be built as large as you like simply by putting all or part of the profits back into the
purchase of additional merchandise to build your inventory. The more you have, the more
you'll sell!
Like most working class people, I didn't have a lot of money when I started out. To be honest,
all I could afford to invest at the time was a mere $200. That didn't buy a lot of merchandise,
and I had to borrow a couple old card tables from my brother. But it was a beginning. It was
doing something, and believe me, most of the time doing something is better than doing
nothing.
I set up at the flea market the very next weekend after my new merchandise arrived and
made about fifty bucks that very first day.
That doesn't sound like much, but I was thrilled! I couldn't make fifty bucks in a day at my job
if I tried, yet here all I did was set my stuff on the table, say “Hi” and chat with people who
stopped to look... and I made money!
I knew I was on to something!
I invested that money by buying as much new merchandise as I could for the next weekend. I
thought if I had more merchandise, I'd make even more money, and I was right!
I had found something that works. Buy merchandise, sell it for more than what it cost you, and
buy even more for the next weekend.
That's not so hard to figure out, is it?
I kept putting as much money back into my business by buying as much merchandise as I
could and in only a matter of a few short months I achieved my very first $800 day! Holy
smokes! I made $800 in just ONE DAY!!!
But here's the best part:
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
My business actually didn't cost me a dime.
It's as if I got a free business!
A free business?! What do I mean by that?
I initially began with $200 worth of new merchandise. I made sales and invested the money I
made by buying even more merchandise. My sales continued to increase over the previous
weekend without another dime out of my own pocket. I did that for a few short months.
Once my business was strong enough, large enough, to survive without my continually
reinvesting all of the profits, I could begin keeping some of the profits for myself.
I took my original $200 back out of it, and it continued to thrive, an actual all-cash business!
It was as if I had created a free business! And I haven't worked for a lousy paycheck in years.
What's better than that? YOU can do the very same thing!
Your New Flea Market Business Can Provide a Few Hundred
Dollars Extra Each Month To Supplement Your Income
~OR~
You Can Build It Large Enough To Completely
Replace And Exceed What You Currently Earn!
How large? Well, I know of a few 'pros' who earn an average of $7,000 a month just selling at
flea markets a couple days per week...
It just depends on what you want your business to do for you...
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
This course is going to reveal how you can find flea markets and swap meets, where to buy
brand new items at low wholesale prices, how to get these items delivered to your door and
how to sell them for two, three, four, even five times more than what you paid for them.
Many people invest in the stock market and patiently wait years to make a few pennies. Well,
I don't have that much patience. I like to double and triple my investment in a matter of a few
weeks, not years, and you're about to discover how.
This is also the very first course to teach you how to earn $100,000 a year selling at flea
markets and swap meets on weekends.
$100,000 A Year Just Working Weekends?!
Yes! You can actually take this business to the next level and earn a six-figure income just
working two days each week, and you're going to learn how in the Bonus Section!
The Flea Market and Swap Meet business is not nickles and dimes. It's a billion dollars a year
business! I'm pretty sure more than a million dollars in cash changed hands last weekend at
flea markets and swap meets – in the State of Texas alone!
Millions of people make a very good income selling at flea markets and swap meets
just two days per week. They know the freedom and financial rewards of owning their own
business.
Now it's your turn.
Let's get started.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 1: How To Easily Locate Flea Markets And Swap Meets
There are several ways to locate flea markets and swap meets near you. One way would be
to call your local Chamber Of Commerce and ask. They should be more than familiar with the
businesses in the area.
You can also find them by checking the Classified Ads in the Sunday issue of your local
newspaper. Look in the front of the Classified Ads for headings such Church Events,
Rummage Sales, Fund Raising Events, Arts and Crafts Fairs, Spring Bazaars, Fall Festivals,
etc.
In this computerized day and age, you could always do a Google or Yahoo search. Simply
type in ‘flea markets in’ and add a city and state. Be prepared to spend a few hours searching
through the listings, though. There may be quite a few, with a lot of repeats, as well.
Flea Market And Swap Meet Directories
One of the better ways to locate flea markets and swap meets is to use a flea market and
swap meet directory.
These are paperback books found in the collectibles section of most major bookstores. There
are several different titles by various publishers.
These directories list flea markets and swap meets in alphabetical order, first by state, then by
city. Each listing will include the name and address of the flea market or swap meet, the
telephone number and contact person, a brief description of the market, the average number
of shoppers each weekend, the hours and days of operation, space sizes, rental prices and
local directions.
Keep in mind that the flea markets and swap meets mentioned in the directories paid
to be listed, so these directories are not exhaustive by any means. They are just another form
of advertising. There are still thousands of flea markets and swap meets that are not included.
Some directories will list flea markets and swap meets that are not listed in others, so it's
good idea to pick up one of each title and cover your bases.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Perhaps the best directory available is “Clark's Flea Market USA”. You'll have trouble
finding it in bookstores. I have only found it in the offices at flea markets and swap meets. Be
sure you look for it the next time you go to the flea market or swap meet.
If you can't find it anywhere, you can always order a copy if it by mail. Here's how:
Clark’s Flea Market USA, email: FleaUSA@aol.com
712 Cricket Circle, (850) 968-9595
Cantonment, FL 32533
Send $7.00 plus $3.50 S/H, total $10.50
(If shipping to a Florida address, add 6.5% Florida state sales tax.)
Some flea markets and swap meets now have their own websites that include more
information and photos. When you see a website listed in the directory be sure to go
online and look at it.
1.1 Ten Questions To Ask At Flea Markets And Swap Meets
Do you have spaces available? Flea markets and swap meets have been known to
sell out on certain days. Mile High Flea Market in Henderson, Colorado has 2,000
spaces and sells out on many Sundays, especially during the summer months. The
market in Shipshewana, Indiana has a two-year waiting list for vendors. It is always
sold out.
How big are the spaces? Some flea market and swap meets spaces are no larger than
a parking space just big enough to squeeze a compact car into while others may be
twenty feet wide by thirty feet long.
How much is the space rent per day? I have paid as little as $5 for a 30' X 30' spot
in a farm field to as much as $59 for a 10' X 15' space on pavement. $59 may sound
expensive for such a small space, especially when you may need two spaces, but it is money
well-spent when the market draws 30,000 shoppers each day. The busier the market, the
more money you will make. I may have only a couple hundred dollars in sales in a farm field,
whereas I could clear several thousand dollars in only one day in the busier, more expensive
markets.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Please note: Different flea markets do things in different ways and that extends to their space
rent fees. The vast majority simply rent by the space, which makes sense.
However...some people seem to just be crazy, nuts, whatever.
A prime example is J & J Flea Market outside Athens, Georgia. They don't rent by the space
but by the table. (They supply the tables.) Each space has a table, so what difference does
that make?
I rented two spaces next to each other. Each space had a table, but the table in one of the
spaces was in my way, so I moved it next to the table in the other space I rented. I then
placed my trailer in the space that was table-free.
When the woman walked around and collected the rent, she charged me for the two tables
plus the space the trailer was in. I didn't feel that was right and I went into the office and
complained, to no avail.
Looking at their rental fees schedule, I seen that they charge extra for just about anything! If
you place a board between tables to make one long table, they'll charge you extra for that! If
you place a bar over the open rear doors of your van and hang clothing from it, they charge
you extra for that! If you park your vehicle somewhere else and use the extra room in your
space to display more items, they charge you for that!
I know they're in the business to make money, but their ridiculous rental fees drive vendors
like myself away. If they had rented a couple spaces to me, I would have had no problem with
that, and they would have made a lot more money from me over the summer because I would
have been there every weekend for perhaps five or six months straight.
But they choose to nickle and dime vendors to death, and they permanently lost my business.
I only sold at that market for one day, and I will never return.
Are the spaces paved or dirt? There are pros and cons here. A paved space is hotter
in the sunshine but doesn't turn into a mud pit when it rains. Some paved spaces may be
on a bit of a slope and on dirt you can always dig holes for your table legs to level your
tables out. Can't do that on pavement. A dirt lot in summer is a source of dust and dirt that
can be blown onto your brand new merchandise, which will then need to be cleaned.
So is pavement better than dirt? It depends on your own personal preferences. I prefer
spaces that are at least close to being level. I've sold at some flea markets that were built on
the side of a mountain! NOTHING was level! It was horrible!
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Do I need any licenses or permits? They are required in some jurisdictions but not
required in most, at least not yet. I know of many vendors who have sold at flea markets and
swap meets every weekend for years who have never once bothered applying for a license or
permit.
The most important permit or license you need for this business is a resale license (also
called a tax permit, privilege license, etc.) In just a few words, having a resale permit
means you agree to charge your customers sales tax on every purchase and forward
said revenue to the state revenue office once a month or once every quarter (three months),
however your particular state wants it.
Why do you need one? Many import and wholesale companies require that you mail them a
copy of your tax permit so they can keep it on file. If you don't have one you will not be able to
purchase merchandise from them. This could seriously cut into your profits. They may offer
some of the hottest items that sell at flea markets. So having a resale permit is to your
advantage.
These permits may be obtained at your local State Revenue Office.
Costs and ease of obtaining a permit vary from state to state. Arizona only charges $12 and
they hand the permit to you in less than fifteen minutes after you fill out their short application.
Mississippi, on the other hand, will mail it to you, taking as long as six weeks, and they charge
a $300 refundable deposit.
The refundable deposit in Colorado is only $50. Arizona doesn't require a deposit.
Many flea markets and swap meets do not require vendors to have a resale license, even
though the state does. The vendors will operate each day using the resale license of the
flea market or swap meet. When you rent a space, you are given an envelope to place
your daily sales tax collections in, and you simply turn it in on your way out the gate at the
end of the day.
Few vendors declare the actual amount of sales they made and many don't even keep track
of it. They just throw some change into the envelope and turn it in on their way out of the flea
market. Keeps the state happy.
How many vendors set up there last weekend? Some flea markets and swap meets
will actually tell you the truth while others may stretch the heck out of it if hardly anyone
showed up to sell the last weekend, so don't take what they tell you as gospel. The best way
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
to get an idea of this is to actually go to the flea market or swap meet on a Saturday
or Sunday and see for yourself.
What items are not allowed to be sold there? Banned items may include live
animals, pornographic material (adult movies and magazines), spray paint, firearms and
ammunition, fireworks, and counterfeit items ranging from t-shirts to home-copied DVDs and
CDs. (copyright violations). As I've said, flea markets do things in different ways. What is
banned at one will not be banned at another. Inquire at the office to be sure.
Many of the larger flea markets and swap meets will contract with the county sheriff, and plain
clothes officers will be walking around the marketplace. If you are selling banned items, you
will be caught.
If you sell counterfeit items it is more than possible that they will call the local police, who will
arrest you, confiscate all of your merchandise, impound your vehicle (you may never see it
again since it was used in the commission of a crime), you will get a court date to explain your
stupid self to the judge, who will most likely slap you with a large fine and possibly even jail
time if this is not your first offense.
If it is banned, don't try to sell it. When they find you (and they will) they will confiscate all of
your merchandise and kick you out of the market permanently. You will not get a refund of
your space rent.
Be smart: save yourself a lot of trouble and just don't do it.
Are there other vendors selling the same type of merchandise as you?
Sometimes they'll tell you, sometimes they won't. Sometimes they really don't know. It's
always good to get a heads-up on any competition you may have. The larger markets can
support several people selling the same merchandise. It would be a lot harder to make any
money in smaller markets.
Is there electricity at the space? How much does it cost? It's always nice to have
electric to power your radio or CD player, and you may be able to use a small electric
heater on those cold winter days. (Many flea markets and swap meets do not allow the use of
propane heaters.)
What time do the gates open in the morning? Good to know if you want to get in as
early as possible.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Test #1.
(Answers can be found in Lesson #1.)
To locate flea markets and swap meets doing a Google search, you would type in
______________, _____ and ______ .
One of the better ways would be to use flea market and swap meet directories. These
can be found in the ___________ section of major bookstores.
Perhaps the best directory to have is ________.
If you sell ____________ items, you may be arrested.
Items that you might not be allowed to sell include fireworks, spray paint, firearms
and ammunition and ________ materials.
What might you learn by speaking with the Chamber Of Commerce?
True or false? Some flea markets and swap meets have their own websites.
True or false? Flea market directories list every flea market and swap meet in the
United States and Canada.
True or false? You might locate flea markets by looking in the weekday editions of
local newspapers.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 2.0 How To Select Items To Sell
Here is the #1 question everyone has: What should I sell?
The easy answer: Whatever people are buying!
That was easy, wasn't it? You want to sell what people are buying.
People need only a few basic things: Air, Food, Water, Clothing and Shelter.
People desire everything else, such as things that make them feel good, make them feel
secure, things that make them laugh, make them remember good times, things that help them
look good or helps them make more money. (Isn't that why you bought this book?)
However, I would pay close attention to the following criteria.
The ideal product appeals not only to men and women but also to children. Men don't
often buy purses, but they often buy power tools. Women don't often buy power tools, but
they often buy a new purse. Children never buy power tools or purses, but they want toys.
Parents buy toys for their children.
Don't cut out half of your livelihood by selling something only part of the population wants.
The ideal product is consumable, meaning the buyer uses it, runs out and needs to buy
more, hopefully from you. Consumables would include shampoo, laundry soap, candles,
food and paper products.
The ideal product does not spoil or have a 'Use By' date. Produce spoils quickly. Many
people won't buy a cough syrup or cold remedy if it is 'out of date'.
The ideal product is not affected by heat or cold. Candles will melt and vitamins will go
bad in heat. Plastic inflatables will be stiff when they are cold and opening them will create
leaks.
The ideal product is small and lightweight. What you don't sell must be taken back home
with you at the end of the day. Do you really want to sell refrigerators and bowling balls?
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
The ideal product is the one that everyone wants but can't find anywhere except at your
space. You are the only person offering it. If anyone wants it they have to buy it from you.
The ideal product is not a fad item. Fads come and go quickly. Remember Beanie Babies?
Many people made a fortune selling Beanie Babies...when they were hot. Once the fad died,
hundreds of thousands of vendors got stuck with a lot of their money invested in an item they
can't even sell for a quarter. Don't get caught.
The ideal product is brand new, not used. If you sell new items you'll always be able to
order more to replace what you sold.
Most people prefer a new item over a used item even if they have to pay a little more.
Higher-priced items usually come with a guarantee or warranty, instructions and even
tech support, depending on the item. Would you really buy a used PC from Bob off the back
of his pickup truck? He says there's nothing wrong with it...
Other Considerations:
Something you may want to stay away from is anything that comes in a lot of different
sizes, such as jeans or shoes. You can invest a lot of money in inventory and still not
have the right size the customer needs.
If you wish to sell t-shirts, stock only large and extra-large.
I would also avoid items that are breakable, such as glass or ceramics. They could be
broken during shipping and you would need to wrap and unwrap them often, creating
more work for yourself and more opportunity to lose money through breakage.
Every time I hear glass breaking, I hear the sound of someone losing money.
Is what you want to sell something you are actually interested in or are you just selling it for
the money? If you have a hobby, such as music, why not consider selling music-related
items? Over the long term you will not become bored and lose interest.
There is nothing worse for your business than having an 'I don't care' attitude.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Test #2.
(Answers can be found in Lesson #2.)
The single most important item you should sell is what people are ________.
The ideal product is small and ___________.
Avoid items that are __________, such as _________ and ________.
Every time I hear _______ _________ I hear the sound of someone losing money.
The five things people must have are ____, _____, _____, ______ and _____.
The worst thing to have for your business is an __ ____ ____ attitude.
True or false? The ideal product appeals only to children.
True or false? It's better to sell things that come in a lot of different sizes.
True or false? You should never sell things that interest you, such as a hobby.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 3.0 Sources For Brand New Merchandise, Part One
Knowledge is power.
Knowing where you can obtain your merchandise for the lowest cost will put substantially
more money in your pocket.
Other than items that are banned by the flea market, swap meet or by local ordinance, you
can sell just about anything.
You are about to learn of many different sources for brand new merchandise. Some are
almost obvious, while others are very well-kept secrets.
3.1 Dollar Stores (Yes, Dollar Stores!)
Dollar stores are perhaps one of the most overlooked sources for brand new merchandise.
Dollar stores, usually located in strip malls, are small stores that sell many different items for
only a dollar each. You’ll find everything from reading glasses and coloring books to canned
food, shampoo and kitchen utensils
Sometimes you will find an item that Wal Mart sells for three or four dollars, in the same exact
packaging, being sold at the dollar store for just one dollar.
Obviously, Wal Mart doesn’t “Always” sell for less.
Did you ever think you could buy items at the dollar store and sell them for a profit at the flea
market or swap meet? You can! I do it all the time.
My customers would have a fit if they ever found out. Knowledge really is power. If they knew
where they could buy it for a dollar they wouldn’t buy it from me for $3, but most people don‘t
know.
The key to buying at the dollar store is to be selective. Look at an item and ask yourself if it is
under priced. Many items are.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
But what if you buy items that you just can’t sell for more than a dollar? Are you stuck?
No, you're not. You can either knock the price down to a dollar to move them or return them.
Know the return policies of the stores before you buy. Some stores only give in-store credits.
Some stores have a no refunds policy and will only give you an exchange for the same
item if the one you have is faulty. Others will have a limit as to how many items can be
returned at one time or in one day.
Here are some items that are often under priced: hand tools, skillets, kitchen knives, DVDs.
I actually bought twenty skillets for a dollar each from the dollar store and sold 19 of them in
one weekend for $3.75 each. I kept the last one for myself!
Think about it the next time you wander through a dollar store and I’m sure you’ll notice other
items that seem under priced.
If you don’t mind going for a Sunday drive, you may find dollar stores in nearby towns. Often
these dollar stores will carry items your local dollar store doesn’t.
Selling items you buy at the dollar stores means you will eventually have someone stop at
your table and say something like, “I can get the same thing at the dollar store for only a
dollar. You buy them at the dollar store, don't you?!”
That's okay. Don't be offended. Maybe they seen it at the same dollar store where you
purchased it.
I just play dumb and reply, “They sell those at the dollar stores?! I paid more than that from
my supplier!”
You'd be surprised how many times I've had someone say that, yet they still buy the item
from me, and at my price. They figure, “Well, I'm already here and I need it.”, even though
they know they can get it at the dollar store for only a dollar.
Speaking of which, that reminds of something very important:
NEVER Tell Anyone Your Business! (It's so important I even underlined it.)
One thing you need to know about the flea market and swap meet business is
that where you buy your merchandise is your business and ONLY your business
no matter where you buy it.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
You will occasionally have someone ask you where you get a certain item. They may be a
shopper just wondering, but they are more likely a vendor who will compete against you and
hurt your business.
If you want to have another vendor selling the exact same thing for less right across the aisle
from you next weekend, go ahead and tell them the truth. They will do their best to put you
out of business.
You can be somewhat rude and tell them that’s none of their business or you can lie to them.
I will lie to them every time. I will just smile a little and tell them I get all my goods from
Davis in Omaha, or from DTK in Chicago. I’ll just make it up.
They'll be happy, thinking that they just learned a secret, thinking I'm such a nice guy, how
stupid I am to give out such valuable information, and I'll be happy knowing I just sent them
on a wild goose chase!
I can’t help but smile because I know they will go straight to their computer and try to track
down that supplier, not knowing it doesn't even exist.
Serves them right for asking. I have spent years and hundreds of dollars searching for my
wholesale sources. I certainly am not going to give it away for free.
While I'm on the subject, another thing to watch is the outside of your boxes.
Many times the cardboard boxes in which your orders are shipped will have the name and city
and state of the company you bought it from printed in big letters on the side of the box.
Nothing like just giving it away! Always be sure to cover it with spray paint, duct
tape, or leave those boxes at home.
Also, cut the UPS shipping label from every box. Your name and address are printed there as
well as the company you buy from. That is information no one else should ever have. Be
careful of anyone paying too much attention to or getting too close to your boxes.
It's your business and it’s none of their business!
If someone walks behind your tables to get a peek at the labels on your boxes, don't be afraid
to be rude and tell them to get the hell out of there. There are some vendors out there who
are not afraid to steal their way through life, and they will steal every bit of supplier information
you allow them to.
Make sure there is nothing they can steal.
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3.2 Sales Circulars And Newspaper Inserts
Perhaps one of the easiest ways to immediately acquire brand new merchandise would be to
simply buy the Sunday newspaper and look at the sales circulars from the major retailers
such as Wal Mart, Sears, Best Buy, Staples, Macys, etc.
Be selective about what you buy. You need to sell it for a profit so look for the biggest
discounts.
Sometimes you can actually buy the items early in the morning and have them for sale at the
flea market or swap meet the same day.
Just like buying at the dollar store you’ll need to pay sales tax, so add that to your cost when
thinking of how much you can sell an item for.
(If you have a resale license, never use it in a retail store. Many stores have policies allowing
them to not sell to anyone who will resell the items. Using it would be a dead giveaway of your
intentions. Just pay the sales tax like anyone else.)
If you are buying an unusual quantity of the same item, the clerk will usually ask you nicely
what you are going to do with all of them. They’ll make it seem like they are just asking, but
they are actually checking to see if they need to NOT sell them to you because of store policy.
Never tell them you are going to sell them. I always say I’m stocking up for Christmas or I’ll
give them out as contest prizes to my employees.
Again, be aware of their return policies. Be careful, though. If you return too many items, they
can ban you from shopping there. They’ll catch on pretty quick.
Another thing to take advantage of is the Day After sales, day after Christmas, day after
Thanksgiving, etc. These are great times to get up early and look at the sales circulars in the
newspapers. Many of the day after sales begin at 6 am.
You can often get a jump on many shoppers by going on line the night before and seeing
what will be on sale. Many stores reveal their sales online a few days before their
newspaper ads.
It can be quite profitable. I went to K Mart and bought the last 7 binoculars they had at $26
each. I sold them all the very same day for a profit of $270. Not bad for a few hours of easy
work.
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3.3 The Back Of The Package
Another way to find brand new brand name merchandise is to find it in a store and simply look
at the back of the package. You’ll either find the name and address of the company that
manufactures that product or the name, city and state of the company that imported that item
from overseas.
Once you have that information all you need do is call 411, get the company phone number
and call them. Simple.
Well, kind of.
To do this you’ll need a state resale license and a considerable amount of money as most
manufacturers do not sell in small quantities. A small quantity to them would be 5,000 pieces.
Which isn’t too bad. But what if each piece costs you $1.42?
That’s $7,100 for those of you who were wondering. That’s more than many can afford and
shipping is extra. You have to arrange for it.
Don’t automatically dismiss this thinking you can’t afford it. As you build your business slowly
but surely, you’ll soon be able to afford an investment of that size in new merchandise. Buying
in larger quantities will allow you to reap the benefits of the low manufacturers prices, putting
even more profit in your pocket.
Many companies have a toll-free 800 number. To find it, call 1-800-555-1212. That’s toll-free
Directory Assistance.
If you find there is no toll-free listing for that company, spend a little and dial 411.
Once you find the company number, call them and ask for the sales department.
When you reach the sales department let them know you own a “small retail
business” and are interested in carrying their product in your store. They’ll take it
from there. (Flea markets and swap meets still give people a bad idea, they think they are
junk markets, so try to avoid mentioning that.)
It’s possible they will not sell to you. It’s nothing personal, they may not deal directly with
the public. Instead, they sell their product to distributors who sell it to small businesses.
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Don’t let it faze you if they say they won’t sell to you. Don’t even miss a beat. Ask them for the
name and phone numbers of some of the distributors they deal with so you can call them.
They should have no problem giving that to you.
Before you get off the phone, get the name of the person you spoke to. This way, when you
call the distributors you can tell them you got their name from so-and-so at ABC
Manufacturing and they told you to call.
Suddenly you are not someone just calling them out of the blue, you seem to have a
connection to the manufacturer. This gets your foot in the door, so to speak. Now you can get
the information you need to order that product.
Before you know it, you’ll be able to sell the exact same merchandise you see in major retail
stores and pay much less than retail to get it.
It is possible you will need to fill out a credit application but this is nothing to be concerned
about. In most cases this is just a formality, another piece of paper they need to have on file.
Many times your credit isn’t even checked, so don’t sweat it if your credit record isn’t very
good. Fill it out and send it in. The worst they can do is say no.
They may very well say yes. Don't miss out on a great source of brand new merchandise.
3.4 Google And Other Online Search Engines
Another way to find brand new merchandise would be to use the online search engines.
Simply type in the type of merchandise followed by the word Wholesale.
But be specific. For instance, if you type ‘Medical Equipment Wholesale’ in the search
box, many pages of companies will come up, all proclaiming to sell at wholesale prices.
The search term ‘Medical Equipment’ is a very broad area and you will get thousands of
pages to search through. Be more specific in your search by narrowing your search terms.
Typing ’Stethoscopes Wholesale’, for example, will be a great help to you if you are looking
only for stethoscopes. Doing a search as broad as ’Medical Equipment’ will bring up listings
for everything from suture needles to X-ray machines. Narrowing your search terms as much
as possible will save you a lot of valuable time.
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Be careful. Many companies online claim they sell at wholesale prices when they do anything
but. Often they buy from the manufacturer and mark the price up to almost retail and sell it to
unsuspecting people, yet claim they are a wholesale company.
Watch your prices and you will soon develop a sixth sense as to whether they are true
wholesalers or not.
Never pay an application fee, ‘good faith’ deposit, membership fee or whatever they
want to call it! If any company requires something like that before you can purchase
from them, ignore them and move on. There are hundreds of companies out there with
very low prices who never require a deposit or fee of any kind.
Don’t fall for that scam.
Another very decent place to look is http://www.wholesalecentral.com. They call
themselves “The web’s largest wholesale marketplace”.
3.5 eBay
If you are familiar with online auctions such as eBay, you’ll come to find they are
good places to get bargains. (http://www.ebay.com)
You’ll need to sign up for an account if you don’t already have one. (It’s free.)
If you do a Google search of online auctions, you’ll find there are hundreds of online auction
websites available to you.
eBay just happens to be the big boy on the block so I will just discuss them. But don’t be
afraid to look at the many other online auction sites, too. You may find better bargains there
than on eBay. (Bonanzle and Etsy are a couple of good ones to check.)
eBay has many categories of items and many of those categories have many more subcategories within them to narrow it down.
For instance, if you click on Art you’ll find there are many different types of art. Were you
interested in paintings, sculpture, art supplies? The list of sub-categories goes on. It’s a great
way to help you zero in on the exact items you had in mind even when you couldn’t think of
what they were called.
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You’ll find that you can very easily buy items at such low prices you’ll be able to sell them at
flea markets and swap meets for twice or three times your cost, even including shipping.
But more often than not, you are only buying one item at a time. You may want
to buy hundreds of the same item and eBay can help you with that, too.
eBay has a section where you can buy entire lots of merchandise, which could range from ten
or twelve pieces all the way up to entire store inventories of hundreds of thousands of pieces.
In the categories list on the left side of the home page, scroll down and watch for
the word ‘Wholesale‘. You’ll have to scroll down quite a way, but once you find it,
click on it. It will take you to the wholesale lots listings.
This is a good time to have your calculator handy.
A listing may say they are selling one lot of 212 bottles of Mary Kay nail polish for a Buy It
Now price of $389.
Is this a good deal? You won’t know until you know the price of each bottle.
Simply divide 389 by 212 and you’ll find that at $389 for the lot, that would be
about $1.84 per bottle.
Don’t forget the cost of shipping. That will probably add almost ten cents to the cost of each
bottle, making your total cost almost $1.95 per bottle.
Now you need to think. Can you sell them for $4 per bottle? These are brand
name, after all, but will they go for $4 per bottle? Maybe, maybe not. How much do
retail stores sell them for?
You might not be able to double your money, but you certainly should be able to at least
sell them for a dollar more than you paid for each bottle and make a nice profit.
So, yes, that might a good deal for you.
One thing to keep in mind is that whatever you buy should compliment what you already sell.
If you sell perfume, your customers most likely won’t want toilet bowl cleaner, so don’t buy
that!
But they might be interested in men’s cologne. That would compliment perfume.
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Test #3.
(Answers can be found in Lesson #3.)
Knowledge is __________.
What will you find on the back of the package?
The key to buying at dollar stores is to be __________.
When buying in retail stores should you pay the sales tax like everyone else?
Perhaps one of the most overlooked sources for brand new merchandise is _____
and __________.
To purchase bulk quantities on eBay, look in the __________ category.
True or false? You can make money by buying items at retail prices.
True or false? You should never reveal your sources.
True or false? You can make money by buying the Sunday paper.
True or false? You should always show your resale license when buying at retail
stores.
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Lesson 4: Sources Of Brand New Merchandise, Part Two
Buying from import companies is a great way to obtain brand new merchandise at low
wholesale cost.
Importers are most often located in Ports Of Call cities such as New York, Baltimore,
Jacksonville, Miami, New Orleans, Houston, Los Angeles/Long Beach, Portland, Tacoma and
Seattle.
These companies import merchandise directly from overseas manufacturers in China,
Taiwan, South Korea, Pakistan, India, etc. at low manufacturer’s prices, mark it up a little to
make a profit, and sell it to folks like us.
In almost all cases these importers will sell in very small quantities. Most will have a
minimum of only $100 per order (merchandise cost only, shipping costs are extra), while
some will actually have a low $50 to $75 minimum and others will have minimums as high as
$300 to $500 per order.
The trick is in finding out where these importers are and how you can get in touch with
them and I am going to tell you right now.
4.1 Flea Market And Swap Meet Papers
A well-kept secret, flea market and swap meet papers are your direct connection to the
wonderful world of wholesale import merchandise.
You will only find these papers in the offices of some flea markets or swap meets. (They are
also available by subscription through the mail. You’ll find out about that in a bit.)
They are usually provided free, and as there are at least six different titles that I know of be
sure to pick up a copy of each different title you find. Some are regional, while others cover
the entire United States.
If you don’t see them in the office, be sure to ask about them.
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Here is a list of a few of the flea markets and swap meets where you’ll find these
flea market and swap meet papers:
Alabama:
Builder’s Square Flea Market, 2601 North Memorial Parkway, Huntsville, Alabama
Collinsville Trade Day, Highway 11 South, Collinsville, Alabama
Cullman Flea Market, US Hwy 278 West at I-65, Cullman, Alabama
Dixieland Flea Market, 33985 Highway 25, Harpersville, Alabama
Flea Market Mobile, 401 Schillinger Rd N, Mobile, Alabama
Foley Indoor Flea Market, 14809 Highway 59, Foley, Alabama
Greenhill Flea Market, 257 Roosevelt Ave., Florence, Alabama
Highway 59 Flea Market, Hwy 59 at Hwy32, Summerdale, Alabama
Limestone Flea Market, 30030 Highway 72 West, Madison, Alabama
Montgomery Flea Market, 2270 East South Blvd, Montgomery, Alabama
Mountain Top Flea Market, 11301 US Hwy 278, Attalla, Alabama
Sadie’s Flea Market, 7990 US Hwy 231, Dothan, Alabama
Uncle Charlie’s Flea Market, 4051 Hwy 72, Killen, Alabama
Valley Flea Market, 3864 US Hwy 80 West, Phenix City, Alabama
Arizona:
Glendale 9 Drive In And Swap Meet, 5650 55th Ave, Glendale, Arizona
Historic Route 66 Swap Meet, I-40 Exit 53, then 3 miles east on RT 66, Kingman, Arizona
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(Arizona, cont.)
Mesa Market Place Swap Meet, 10550 E. Baseline Rd., Mesa, Arizona
Peddler’s Pass Flea Market, Hwy 69, Prescott Valley, Arizona
Tanque Verde Swap Meet, 4100 S Palo Verde, Tucson, Arizona
Colorado:
Mile High Flea Market, I-76 Exit 10, 7007 E. 88th Ave., Henderson, Colorado
Florida:
Daytona Flea And Farmer’s Market, I-95 Exit 87, Daytona Beach, Florida
International Market World, 1052 Hwy 92W, Auburndale, Florida
Super Flea And Farmer’s Market, 4835 W. Eau Gallie Blvd., Melbourne. Florida
USA Flea Market, LLC, 11721 US Hwy 19, Port Richie, Florida
Georgia:
Keller’s Flea Market, 5901 Ogeechee Rd., Savannah, Georgia
Illinois:
Alsip Swap-O-Rama, 4350 W 129th St., Alsip, Illinois
Elgin Discount Flea Market, 840 N State Street, Elgin, Illinois
Sandy Hollow Indoor Outdoor Flea Market, 3913 Sandy Hollow Rd., Rockford, Illinois
Indiana:
Circle City Flea Market, 3825 S. East St., Indianapolis, Indiana
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(Indiana, cont.)
Green Meadows Flea Market, Hwy 7 North Rt. 5, North Vernon, Indiana
Liberty Bell Flea Market, 8949 E. Washington St., Indianapolis, Indiana
Kentucky:
Country World Flea Market, 3036 Paris Pike, Georgetown, Kentucky
Flea Land Flea Market, 192 Bypass at Hwy 229, London, Kentucky
Flea Land Of Bowling Green, 1100 Three Springs Road, Bowling Green, Kentucky
Lake Cumberland Flea Market, 95 Super Service Dr., Somerset, Kentucky
Paintsville Livestock Auction and Flea Market, Hwy 172, Paintsville, Kentucky
Richwood Flea Market, 10915 US 25, Richwood, Kentucky
Shelby County Flea Market, 820 Buckcreek Rd., Simpsonville, Kentucky
Shoppers Paradise Flea Mall, 6320 S Hwy 27, Burnside, Kentucky
The Most Awesome Flea Market In The World, I-65 Exit 116, Shepherdsville, Kentucky
Louisiana:
Bonnie And Clyde Trade Days, 20550 Hwy 9, Arcadia, Louisiana
Greater Baton Rouge Flea Market, 15545 Airline Highway, Prairieville, Louisiana
Greenwood Flea Market, 9249 Jefferson Paige Rd., Greenwood, Louisiana
Hammond Flea Market, 45175 Hwy 190 W., Hammond, Louisiana
Michigan:
Gibraltar Trade Center, I-94 Exit 237, 237 North River Rd., Mount Clemens, Michigan
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Minnesota:
Osowski’s Flea Market, 1479 127th St. NE, Monticello, Minnesota
Wabasha Discount Market, Industrial Court And Hwy 61, Wabasha, Minnesota
Mississippi:41 Flea Market, US 278 at US 45, Amory, Mississippi
49 Flea Market, 19 Dewitt Carter Rd., Hattiesburg, Mississippi
Pass Christian Flea Market, I-10 Exit 24, Pass Christian, Mississippi
Ripley First Monday, 10590 Hwy 15 S., Ripley, Mississippi
Southaven Outlet Expo, 7360 Hwy 51, Southaven, Mississippi
Ohio:
23 Southbound Flea Market, 1439 US Rt. 23, Piketon, Ohio
5th Avenue Flea Market, 3800 Harmont Ave. NE, Canton, Ohio
Four Season’s Flea And Farm, 3000 McCartney Rd., Youngstown, Ohio
Fremont Flea Market, 901 Rawson Ave., Fremont, Ohio
Olive Road Trader’s Mart, 2222 N. Olive Rd., Dayton, Ohio
Red Barn Flea Market, 50 W. Main St., Batavia, Ohio
Trader’s World, I-75 at Rt. 63, Monroe, Ohio
Warren Flea Market, 428 Main St. SW, Warren, Ohio
Westland Indoor/Outdoor Flea Market, 4170 W. Broad St., Columbus, Ohio
Tennessee:
Chattanooga Flea Market, I-75, Exit 4, Hwy 153 and Lee Hwy, Chattanooga, Tennessee
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(Tennessee, cont.)
Crossville Flea Market, 2954 Hwy 70 N., Crossville, Tennessee
Deerfield Flea Market, 4140 Waynesboro Hwy., Lawrenceburg, Tennessee
Flea Traders Paradise, 1907 Winfield Dunn Pkwy, I-40 Exit 407, Sevierville, Tennessee
Great Smokies Flea Market, 220 W. Dumplin Valley Rd., Kodak, Tennessee
Green Acres Flea Market, 908 Hillside Dr., Alcoa, Tennessee
Log Cabin Flea Market, 1635 Hwy 46 S., Dickson, Tennessee
Nashville Farmers Market, 900 Eighth Ave. N., Nashville, Tennessee
Parkland Flea Market, 4994 Murfreesboro Road, Lebanon, Tennessee
Sweetwater Flea Market, 121 CR 308, Sweetwater, Tennessee
Traders Village Mall, 2745 East Stone Dr., Kingsport, Tennessee
Texas:
Austin Country Flea Market, on Hwy 290E, 5 miles E of I-35, Austin, Texas
Traders Village, 2602 Mayfield Rd., Grand Prairie, Texas
Traders Village, 7979 N. Eldridge Rd., Houston, Texas
West Virginia:
Milton Flea Market, US RT 60 East, Milton, West Virginia
Wisconsin:
7 Mile Fair, 2720 West 7 Mile Rd., Caledonia, Wisconsin
Kenosha Flea Market, 5535 22nd Ave., Kenosha, Wisconsin
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If you don’t live near a flea market or swap meet that has them, perhaps you have a friend or
relative who does. You could ask them nicely to pick up a few copies at the flea market or
swap meet and mail them to you. Or perhaps you could take a drive one weekend and pick
them up yourself.
If you still can’t acquire them, your last resort would be to subscribe and get them by mail.
Subscribing will cost you a few bucks but you’ll get the latest issue every month before
everyone else does, allowing you to sell the latest new merchandise before the other vendors
learn of them. New companies begin advertising in them all the time, so they are not always
just the same companies you've already heard about.
These papers are worth their weight in gold to any flea market or swap meet vendor
interested in earning a serious income, so don’t be afraid to spend a few dollars if you have
to. Not doing so just to save money will honestly end up costing you thousands of dollars in
lost revenue.
Here’s the information to subscribe:
Title: Wholesale SwapMeet Merchandising
3980 Glenfeliz Blvd., Los Angeles, CA 90039
1-323-663-6900 $30 US, $52 Canada
Title: Western Merchandiser
Sumner Communications
24 Grassy Plain St., Bethel, CT 06801-1725
1-203-748-2050 $30 US, $40 Canada, in US funds
Title: Cover (Also published by Sumner Communications)
Cover Magazine
24 Stony Hill Rd., Bethel, CT 06801-1166
1-800-999-8281 http://www.covermag.com
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Title: Merchants News
P.O. Box 741124, Boynton Beach, FL 33474-1124
1-561-364-1583 1-800-453-3532 $40 US
Titles: Marketers Forum, Swapmeet
Forum Publishing
383 E. Main St., Centerpoint, NY 11721
1-631-754-5000 http://www.wholesalesources.com
Title: Midwest Merchandiser
1-800-999-8281, ext. 109 http://www.merchandisegroup.com
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Test #4.
(Answers can be found in Lesson #4.)
The best way to obtain brand new merchandise at low wholesale prices is to buy it
from ___________ companies.
Importers will sell in _____ ______quantities.
Most will have a minimum of _________ per order.
A well-kept secret, flea market and swap meet _____ are your direct connection to
___________.
Importers are most often located in ____ ___ ____ cities.
True or false? You cannot subscribe to flea market papers.
True or false? Most importers will not sell in small quantities.
True or false? You must have thousands of dollars before you can buy from import
companies.
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Lesson 5: How To Get Catalogs And Wholesale Price Lists
Now we're getting to the good stuff! This is how you can obtain the important
information not made available to the general public!!!
Once you obtain copies of the flea market and swap meet papers get a marker and look
through the many ads, marking those that interest you.
Due to the limited amount of space in the ads, the importers can only show you a small
amount of items they carry. These items are representative of the type of merchandise they
sell. Once you receive their catalog, you’ll be able to see everything they sell.
If these products interest you, call the importers and request a copy of their wholesale catalog
and price list.
Be sure you tell them you want their 'wholesale' catalog and price list. They may also
have a retail catalog with higher retail prices.
These catalogs are rather expensive to produce and the importers won’t send them out to just
anyone who calls. Be sure you mention that you are a flea market or swap meet vendor
looking for new items to sell. They’ll gladly mail one to you then.
Because of the cost and the difficulty of updating their paper catalogs, many companies are
doing away with their paper catalogs and are going to an online catalog. If you see a website
in any of the ads be sure to check it out.
Unfortunately, many do not update their websites as often as they should, either! Call as
many of the ads as you’d like and request a catalog and wholesale price list from each of
them.
Imagine if you ordered from only one company and that company suddenly went out of
business. You’d have to scramble to find another import supplier where you can obtain the
same type of items or you’d have to change your entire inventory.
Don’t put your business in that position. Order from several companies and protect yourself
and your business.
I order from 20-25 different companies. I often place large orders with as many as five
or six different companies in the same week. If any of these companies close I have a list of
two-hundred other companies that I can begin ordering from immediately.
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Once you receive their catalogs, you may find you are completely uninterested in buying from
some of the importers. They may not sell the right type of merchandise or they may be too far
away, increasing your shipping costs. But don't throw them away!
No matter what, never throw the catalogs and price lists away. If you do you are
throwing out valuable information.
Do you know what you will want to sell two or three years from now? No, of course
not. But if you keep these catalogs and price lists you will be able to look at them
later, and if you decide to order from them you will have all of the information you
need.
You may also have customers asking if you know where they can get a certain
item. If you know where to get it you can tell them to check back next week, you
might have one then.
If you can get it for them, your customer will be very happy. They will remember
how you went out of your way for them and they will become a repeat buyer,
which is very valuable to your business as you will come to realize.
Always keep every catalog and price list you receive. I still have catalogs I
received more than ten years ago!
5.1 What To Do When The Catalogs Arrive
After looking through the catalogs (and being amazed at the low prices and interesting
merchandise now available to you), the first thing you should do is read the company policies
and terms found within the first few pages of each catalog (possibly on a separate sheet).
This is where the company specifies return policies, how they ship orders and acceptable
methods of payment. Being familiar with them and abiding by them will help you maintain a
long and profitable business relationship with your suppliers.
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5.2 Order And Item Minimums
Import companies are in the business to move the goods and make the money. Their profit
margins are small but they make good profit by moving large amounts of merchandise. One
of the better ways to do that is to sell in bulk quantities at reduced rates. Rather than sell by
the piece, they sell by the box and by the case.
It really benefits you to buy in bulk quantity whenever you can afford to. Doing so allows you
to rapidly build your inventory while taking advantage of the lower prices, saving you even
more money.
Most import companies have a minimum order amount, meaning the amount of your order
(not including shipping costs) must be at least a certain amount. Many companies have a
$100 minimum, while some have minimums as low as $50 and as high as $500.
Since it takes almost as much time to fulfill a small order as it does to fulfill a large order,
these minimum amounts help the import companies move the merchandise and make a
profit, allowing them to keep their prices so low.
If the minimum set by an import company is more than you can presently afford, keep their
catalogs and price lists anyway. As you build your business you will have more sales each
day, bringing in more money and you will soon be able to afford to take advantage of the bulk
discounts and save even more.
Since most import companies sell by the box, you will need to order a minimum amount of
each item.
For example, if an item is only sold by the box of 12 pieces, you’ll need to order a box
of 12 even if you only need nine pieces.
If you need 14 pieces, you’ll either need to order a box of 12 pieces or order two
boxes (12 pieces in each box) for a total of 24 pieces.
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5.3 Return Policies
Each company will clearly state their return policies within the first several pages of their
catalog or price list. Be sure you understand and abide by them.
If they specify any items that need to be returned must be returned within 30 days of your
receiving them, don’t leave them in a box for six months and expect them to make an
adjustment for you.
Hint: If you do happen to wait that long, you can still return them. Buy the same item again so
they‘ll be listed on a new invoice, then return the bad items as if they were just sent to you. (If
the new items arrive in a different packaging, remove them and put the items you wish to
return in the packaging.) In most cases they won’t know you’ve had them for six months.
Better yet, just make your returns as soon as possible.
Make it a habit to inspect your merchandise as soon as it arrives. If you find a problem, call
the company and make them aware of it as soon as you can, preferably the very same day.
Don’t start putting it off. You’ll forget and get stuck with items you can’t sell.
If their return policy requires that you call first and obtain a return authorization code, do so
before returning the defective items. They’ve developed a system that helps them maintain
order, allowing them to help their customers in a timely and efficient manner.
But should you return anything? Should you even call them and let them know about it? Not
necessarily. I very rarely return anything, and here's why:
Any time you need to return something you will pay the cost of return shipping. UPS doesn’t
work for free.
Even though I ordered good, sell-able merchandise, some of it was damaged upon arrival.
Still, the import companies will not pay for your return shipping costs. Before I got smart I paid
as much as $50 in only one month in return shipping costs to return unsell-able merchandise.
It can really begin to add up.
Unless you are dealing in high-value items, if there is any way to avoid returning something,
do it.
Let's look into this a bit closer because this is something that can save you a lot of money.
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If a damaged item cost you $3.00, are you going to pay UPS $7.00 to return it to the importers
for credit? I wouldn’t.
Usually items are just slightly damaged. If a piece is broken, perhaps it can be fixed or glued
back together. Just set them aside and when you have enough items simply have a scratch
and dent sale to get rid of them. You can still make a good profit or at the very least sell it at
cost (including your shipping cost).
It sure beats just throwing your money in the trash!
Better yet, don’t buy items that can break, such as items made of glass or ceramics.
You may someday need to throw something in the trash. It may be broken beyond repair, is
not sell-able, and would cost too much to warrant returning to the importer for credit.
I used to worry about throwing something away, thinking of the profit I was losing but you’ll
find you make a high enough profit margin on the sale of the rest of the items that you are
actually not losing anything. You can actually throw something away and still be getting
ahead.
Quite frankly, it’s not worth my time to worry about having to throw something in the trash.
Just move on. Forget about it and make more money.
Of course, if I seem to be getting a lot of damaged merchandise from a certain company I will
politely complain to them about it. (Be polite no matter how angry you may be. They are your
business partners, after all.) Perhaps their shipping department is getting lazy or maybe they
are trying to cut costs by reducing the amount of packing materials they've been using.
But if it continues. I may choose to stop buying from them altogether. It's a rare case when
one particular company is the only place where I can find a certain type of items. I can take
my business elsewhere.
If they are the only place where I can get a certain type of item, well, I can always choose to
stop carrying those items and replace them with something from a company that will sell me
items I can actually sell after they are delivered, right?
It's your business. You can do whatever you choose. Don't forget that.
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Test #5.
(Answers can be found in Lesson #5.)
When calling an import company you should ask for a copy of their __________
catalog and price list.
Be sure you mention you are a ____ ______ _____ looking for ____ _____ to
sell.
Why should you order from more than one company?
Why should you keep catalogs and price lists from companies you are not
interested in buying from?
What is the difference between item minimum and order minimums?
It really benefits you to buy in _____ _______ whenever you can.
True or false? All import companies have the same return policies.
True or false? Import companies always pay the return shipping costs for
defective merchandise.
True or false? It's always better to return damaged merchandise than throw it away.
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Lesson 6: Placing Orders And Getting Merchandise
You have received catalogs and wholesale price lists, have read the terms and policies and
have seen how low the prices really are. You can’t wait to place an order.
Picking up the phone must be the next step, right?
No. There are still some things you need to do and things you need to know before you place
the first call, if you want to do this right the first time.
Let’s see what they are.
6.1 Writing Your First Order
Before you can call and place your first order you need to know what you want to order.
Considering there are different item numbers, different prices and different numbers of items
per box, it is more than anyone could remember.
Buy a spiral-bound notebook. Nothing fancy, even one from a dollar store will work.
As a business you need to keep detailed business records. This includes every order you
place. If the IRS comes knocking wearing their audit pants, you’ll want to have a record of
every item you ever ordered.
Each of your orders will arrive with an invoice which details everything in that order. Most
companies slip the invoice inside the box, but some companies put the invoice in a plastic
pouch stuck to the outside of the box. They occasionally get scraped or torn from the box in
transit and your order arrives without an invoice.
You need that invoice!
When this happens (it will), you need to call the company and have them mail you a
photocopy of the original invoice. If you write your orders in a spiral-bound notebook you will
have a backup copy of the order until the copy arrives. (But your order may be incorrect, as
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the company may have been out of certain items that you ordered. They don't always tell you
when you are on the phone placing the order. You really do need to get a copy of your invoice
for that order.)
Always save every invoice. Never throw them away, even if they are ten years old. You may
need them someday.
Another reason to write your orders in a notebook is to make things easy for you.
By simply looking in the notebook you will be able to determine the first day you placed an
order with a particular company, exactly what you ordered, the item numbers and prices you
paid, where the order was sent and also the last time you placed an order with them.
This not only helps you deal with the tax man but also helps you with your customers.
Someone may ask you if you carry a certain item. It may be something you used to carry but
discontinued. By simply looking in your notebooks you’ll be able to locate all of the information
you need to begin ordering that item again. (It’s a lot faster than searching through catalogs.)
Your customer will be pleased and may become a repeat customer, the most valuable
kind.
I prefer to know exactly how much money I can afford to spend before I go crazy ordering out
of the catalog. Once I know how much I can spend (keep in mind that shipping costs are
extra) I can begin writing up an order.
You will most likely write your first order several times, making small changes here and there
to keep it within your budget yet still order the items you’d like.
Don’t write it in your notebook at first. Write it on scratch paper and when you are satisfied
with it transfer it into the notebook. This is a business record and you should keep things neat
and legible.
Remember the minimums. Your order total must be at least as high as the minimum order
amount set by the company you are ordering from. If an item is sold by the box of ten, order
at least one box of ten pieces and no less. If it is only sold by the gross (144 pieces) you’ll
need to order 144 pieces.
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Once you are satisfied with your order, transfer it to the notebook. Include the following:
· date you placed the order and who you spoke to
· where the order was shipped
· item numbers and a brief description of each item you ordered
· the price per piece
· number of pieces ordered
· total amount of order
6.2 Backup Items
Keep in mind that some of the items you wish to order may be out of stock. If the total
amount of your order is just barely above the import company’s minimum, one item
being out of stock will drop your order total below their minimum.
Some companies will charge an extra fee for orders that are less than their minimum (which
can add up over time), while others will simply not fulfill your order (they’ll let you know on the
phone so you can order something else and bring your order total up above their minimum
amount), but it‘s tough to think of what to order at a moments notice, especially if you don‘t
have the catalog with you, isn't it?
How can you avoid this happening to you?
One, you could order enough items to bring your order total at least fifty dollars above their
minimum amount. If one or two items are out of stock your total will still be above the
minimum amount.
Two, on certain items you wish to order simply mark them as items you can always use more
of. Then when they tell you an item is out of stock, simply double up on items that are in
stock. Instead of ordering 12 of that item, you can now order 24 of them to make up for the
out of stock item.
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Three, include what I call ‘backup items’ at the bottom of your order. These are items that you
don’t really need, but could always use more of if an item you need happens to be out of
stock.
For instance, if an item that would’ve added $25 to your order is out of stock, simply order one
of your backup items that have a total amount close to $25 to keep your order total up.
It may seem trivial to you right now, but there is another very good reason to write backup
items.
The import companies make money by selling as much merchandise as possible. The more
merchandise you order at one time, the more money they make, so they will encourage you
to order as much as you can.
One way they encourage you to order more would be to offer substantial discounts for larger
order totals.
One company I deal with offers a 10% discount on orders of $1,000 or more. That alone
saves me $100. (Another way to look at it would be they are giving me $100 worth of
merchandise for free.)
If my order total exceeds $2,000, they will give me an additional 10% discount (a total of $200
off).
Remember, the more merchandise you make available to your customers, the more you will
sell, so it's to your advantage for that reason alone to order as much merchandise as you can,
and by buying bulk, you'll be able to achieve that while also saving money by getting the
discounts.
If my order sub-total is $978, do you think I’m going to either double up on certain items or
pick from my backups to push my total above $1,000 to save $100?
You bet I am!
I realize that it may surprise you that I mention order totals of thousands of dollars. You may
be thinking you’ll never be able to spend that much money on merchandise, but trust me, you
will be able to in due time.
If you continue to buy more merchandise each week and build your business you will begin
pulling in more and more money each weekend. You’ll soon have the cash to place orders
that exceed a thousand dollars and get these discounts.
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Before you know it you won’t even blink an eye at spending a few thousand dollars on
merchandise each week. As a matter of fact, you'll look forward to it.
Taking advantage of discounts and buying in large quantities will allow your business to grow
quickly, you’ll make even more money and life will be good.
On a related subject, the import companies will occasionally mail out sales circulars to help
boost their sales.
The items shown may be items that are slow movers for the import companies or they may be
items that they got a good deal on from the manufacturers overseas and are passing the
savings on to you.
In any case, this is a great opportunity for you to stock up and save a lot of money (and we
know that the lower your price, the more profit you can put into your pocket).
Take advantage of it as much as you can.
Be sure you read and understand the sales circulars. In many cases you will need to buy a
minimum quantity of a certain item to get the lowest price.
This is the time to spend as much as you can afford. Take advantage of these sales and you
will save thousands of dollars per year while increasing the amount of merchandise you have
in inventory. The more you buy, the more you will save.
The “WOW!” Factor
Important point: Having a ton of merchandise will help you make more sales. A huge pile of
something will actually draw shoppers over to your spaces just to see what it is. Go for the
’shock’ factor. Make the shoppers say, “WOW!” You will make more sales while also blowing
your competition out of the water. You'll leave the other vendors scratching their heads.
Here's a real-life example. I used to sell rubber duckies. That's right, those little yellow plastic
rubber ducks! Everybody knows about rubber duckies! I noticed that one of the companies I
order from had them on sale, if I bought them by the case.
It wasn't inexpensive, buying so many at one time, but it was such a deal I couldn't pass it up.
I bought them for 25 cents each if I bought them by the case, and they said they only had a
certain number of them available.
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I called and placed an order for ten cases, which cost me more than $200..
I had no idea where I would store ten cases of rubber ducks when I wasn't at the flea market,
but I'd figure it out.
When they arrived I couldn't believe how many cute little rubber duckies I had! Holy moly!
I took them to the flea market, spread a tarp on the grass next to my regular merchandise and
began opening the bags and dumping them on the tarp. I didn't stop until I had a huge pile
almost four feet high!
Now, why would I do that? I wanted people to say “WOW!” once they came around the corner
and seen the biggest pile of bright yellow rubber duckies they had ever seen.
It worked very well. Kids ran over to play with them, then their parents would have to buy
some for their children if they wanted to shut them up, and I made a fantastic profit to boot.
I sold them for a dollar...each! (After shipping costs I almost tripled my investment...)
A photographer even stopped and took several pictures of them. (I knew what she would do,
she'd post them on a photo site such as istockphoto.com and when internet marketers
downloaded a copy of it to use on their website they had to pay a royalty, and part of that
would be sent to her each month...)
The point is, the WOW factor really does work. It will attract attention to your space, helping to
sell your other items once people finally come close enough to see what you have, it will
make you stand out from the crowd, and you will save money by buying in large bulk
quantities, especially when you buy while those items are on sale.
Go for the WOW factor.
Here’s something else to think about. If the items you purchase on sale are items you
normally offer, and since you bought these items by the case at greatly reduced prices, you
can actually pass the savings on to your customers by keeping your profit margin the same as
usual.
You’ll actually come out ahead because your customers will not believe how low the price is
and will stock up, buying more than they normally would while the price is down.
By having an incredible sale you will also attract those people who would never give
you the time of day before. They will now walk up and see exactly what you have to offer.
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Major retailers such as Wal Mart will do the very same thing, going so far as to price certain
items at a loss just to get you into the store. They know that once you are there you will also
buy other things you want and need, items that they make a tremendous profit on.
In many instances the people who buy your sale items will also see your regular-priced
items. They’ll say to themselves, “Hmm, I could use that”, and you’ll sell more of your
regularly-priced items, too.
You will greatly expand your customer base, increasing the sales you make each weekend
because people will return again just to see what's on sale.
Clearly, buying in bulk is to your advantage. Before long your problem with money will
change, from not having enough to having too much (a problem I honestly don't mind
dealing with)!
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6.3 Paying For Your Merchandise
There are several options available to you to pay for your merchandise.
Most people pay with their credit cards over the phone.
Actually, they don't pay for their merchandise until the credit card bill arrives toward the end of
the month. This gives them plenty of time to sell most of the merchandise they purchased
before the bill arrives, and they just mail a check to their credit card company.
Many people order by phone using their bank-issued debit card. The funds are electronically
transferred from their account to the import company's account. They must have the money in
the bank to cover the costs before they call.
Still, there are many people who do not have sufficient credit to qualify for an actual credit
card, and many people do not have or do not want to have a bank account and do not have
bank-issued debit cards.
It's easy to use a credit or debit card, but how can anyone conduct business in this day and
age without them?
Simple. Pay with cash.
Or rather, all you need is a method of 'transferring' cash from one person to another.
This can be done in several different ways.
6.3.1Pre-Paid Debit Cards
Go to any CVS, Walgreens or Rite Aid Pharmacy and find the phone card/gift card rack.
Look for Green Dot pre-paid Visa, MasterCard and American Express cards.
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Here's how this works. It's pretty simple.
The card on the rack is an account setup card. It is not the actual debit card. That will be
mailed to you in about a week.
Choose Visa, MasterCard or American Express and take the setup card to the cashier.
The account setup fee is roughly $10.
You do not need a local bank account. Your new pre-paid debit card account will be from a
bank provided by Green Dot.
Since this is a pre-paid debit card you must add money to your account before you can
make purchases with it. Once you have money in your account you may use these cards just
like a bank-issued debit card. The amount of the purchase is automatically deducted from
your account at Green Dot.
To add money to your account, simply give cash to the cashier and they will add it
to your account. You may add any amount from a minimum $20 to as much as $500 at
one time. (This is in addition to the $10 setup fee.)
The cashier will return the setup card to you along with the receipt. Do not throw them
away. You must still activate your new account.
To activate your account call the toll-free phone number on the back of the setup card
and follow the prompts to set up your password.
Be sure to have a pen or pencil handy. You will receive the actual number of your new debit
card during this call. Write this down (along with your password so you don't forget).
With your new account number you may make purchases by telephone or online. You cannot
make purchases at retail stores or gas stations until you have the actual debit card, which will
be mailed to you.
Once you have your debit card, you may use it just like any other debit card.
To add money to your debit card account, you will need a Green Dot 'Refill' card. These
are on the same rack at CVS, Walgreens and Rite Aid Pharmacy.
The refill cards cost $4.95 each time you use one.
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Take the refill card to the cashier, give her the amount of cash you wish to add to your
debit card (minimum $20 to as much as $500 at one time) in addition to the $4.95 refill card
fee and they will add that amount to your account.
The cashier will return the refill card to you along with the receipt. Be sure to keep them.
Follow the instructions on the back of the refill card.
You need to call the number listed on the refill card or go online to actually add the money to
your debit card. You must wait one hour after giving the funds to the cashier before calling.
The only other additional fee charged by Green Dot is a monthly $4.95 account maintenance
fee.
The fees are minimal for the service Green Dot provides. You receive an actual debit card
without the bother of opening a checking or savings account locally. Green Dot does not mail
monthly statements but you can check it online.
You may check the status of your account at any time by calling the toll-free phone number
provided ( 75 cents is deducted from your account each time you call) or you may go online
(http://www.greendotonline.com) and check it for no charge. You will see the total amount
available as well as the charges that have been made to your debit card.
Since this is a pre-paid debit card there are no credit checks. It is ideal for those with
spotty or absolutely terrible credit histories.
Unfortunately, transactions made with pre-paid debit cards are not reported to credit
agencies and therefore do not help to improve your credit rating.
Also, be careful to not exceed the funds available in your account. If you make a
purchase with your debit card and there is not enough money in your account to pay for it,
Green Dot will cover the extra amount but at a steep overdraft cost to you.
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6.3.2 C.O.D.
C.O.D. means cash on demand. In other words, you promise to pay for your order
when it arrives.
The company you order from will pay the shipping costs up front, the merchandise will be sent
to you and you will pay the full amount (merchandise cost plus shipping) to the UPS driver
when he/she delivers your package.
If you don't pay the UPS driver in full, they will not leave the box. No money, no honey.
Unfortunately, many import companies are no longer shipping via C.O.D. Due to the
increasing number of C.O.D. Packages that are not paid for and are returned to sender.
UPS does not work for free. They will charge the import company for returning the
package and the import company gets stuck paying for round-trip shipping, which can
exceed $50 for just one box.
Fortunately, some companies will still ship C.O.D.
For safety reasons UPS no longer allows their drivers to accept cash, not even a penny, and
this creates a special problem with C.O.D. Orders.
If you have cash and need to pay the UPS driver, but they won't accept cash, you will need to
buy a money order. Pay cash at the store for the money order and give it to the UPS driver.
Problem solved.
Not really. Before you buy the money order you must know the exact amount of your
merchandise, including shipping.
When you placed the order you should have asked for the subtotal. But the subtotal is only
the cost of the merchandise. It does not include shipping charges.
Since shipping charges are based on weight, the import company cannot tell you how much
shipping will be until they get all of your individual items into one box and weigh it. They will
not be able to tell you at the moment you called to place your order.
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What you must do is call back a day or two after you place your order. Give the import
company enough time to process your order and get it to UPS. Then call back (same
number) and ask them for the total amount of your order, including shipping.
Important: Make sure they are looking at YOUR order on their computer monitor. Ask
them to tell you the “ship to” address. Is it your address?
I mention this because I have been given the wrong total amount at times. I bought a
money order in that wrong amount and could not give it to UPS because it did not match
the amount on the package.
I got the total amount off the package, had to have UPS return the next day, which only added
to his workload, plus I had to get a refund on the original money order and purchase a money
order in the correct amount.
To make matters worse, I did not live just down the street from the store. My house was
in the country, 28 miles one way from the nearest store that sold money orders.
So take my advice and make sure they are giving you the CORRECT total amount of
your order before you buy a money order.
6.4 Calling And Placing Your First Order
It may take some time to decide which items you want to order and write them in your
spiral-bound notebook, but you'll eventually get it done.
Now you may pick up the phone and make the call.
The person who answers the phone will most-likely be the person who will take your
order. Get their first name and write it in your notebook for future reference.
Begin by telling them you are calling to place your first order. This will let them know
you are not in their computer system and they will need to set up an account for you.
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Things they will ask you:
●
Your first and last name.
●
Your company name. If you don not have one just say it is under your name, or
you may choose to say it is (your last name) Enterprises or (Your last name) Sales.
You can always change it later.
●
Billing address (and shipping address if different from billing address). Some
companies mail a copy of the invoice to you, some don't, but you always want to
be sure you get their sales circulars.
●
Phone number in case there's any question about an order.
●
Resale permit number, state tax license number or privilege license number. (It's
called different things in different states. I've always called it B.S.) No matter
what it's called it still adds up to one thing: the state wants you to do their dirty
work and collect sales taxes on every sale.
If the import company requires a sales tax number before they will do business
with you, choose to get your state resale permit or order from a company that
doesn't want a resale permit number, it's up to you.
My opinion is this: if you are going to start a real business, don't screw around.
Get the resale permit. Not having one will limit the number of companies you can
order from, and that will limit the success of your business.
●
Method Of Payment. They'll need the entire card number, month and year it
expires, and possibly the three-digit security code from the back of the card. (It's
the last three numbers in the line of numbers on the back of the card.)
I'm sure you know but it's always worth reminding: Never give out financial information
such as bank account numbers or credit card numbers using a wireless telephone (cell
phones, cordless phones, etc.) Anyone with a police scanner can listen to your conversation
on that frequency.
If you are ordering C.O.D., simply let them know. (Be sure ahead of time that they still
accept C.O.D. orders.)
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Once they have your account set up, the next thing you'll probably hear is, “And what would
you like to order?”
This is when writing everything down in your notebook comes in handy. They most likely have
several callers on hold, so this is not the time to decide what you want to order. You should
know before calling. Please do not waste their time. They might raise their prices!
If an item you want is out of stock, it should show up as out of stock on their computer. They
should then tell you that is out of stock. (But don't count on it. If in doubt, ask.)
When they tell me an item is out of stock I quickly make a note of that next to the item
number in my notebook and continue down my list.
They may ask you if you want to put that item on backorder. I never put items on
backorder. If I want that item later, I'll reorder it.
Backorder concerns items that are out of stock at the time I placed the order. Backorder
means the company will automatically ship that item to you when it becomes available again.
That could be a day, a few days, a couple weeks, even a six months before it is
back in stock.
I don't like surprises. Back orders are surprises that arrive long after I have forgotten about it.
Back orders will also increase your shipping costs as it is more costly over the long term to
ship one item by itself as compared with being shipped with the rest of your order.
If I really need that item and it is out of stock, I will include it in my next order and not be
surprised.
Once I give them the last item on my list I always ask for a subtotal.
If the subtotal is less than their minimum order amount I will either choose one of my
backup items to bring the subtotal up or I will order twice as much of some of the items
I already ordered. For instance, if I ordered 12 pieces of an item earlier in this call, I will ask
them to change that to 24 pieces.
Continue in this manner until the subtotal exceeds their minimum.
Remember, the subtotal does not include shipping costs. I usually add another $25
for shipping and that almost always covers it except on larger orders.
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Test #6.
(Answers can be found in Lesson #6.)
Before calling to place your first order, you need to know ___ ___ ___ ___ ___.
As a business you need to keep _____ _____ ______.
Why should you write your orders in a spiral-bound notebook?
What is the 'WOW!' factor'?
True or false? You can only order over the phone with a credit card.
True or false? Import companies will ship the merchandise to you before you have
paid for it.
True or false? Buying in bulk does not help your business.
True or false? You should always write down the date you placed an order and
who you gave the order to.
True or false? You can never order items from wholesale companies and import companies
by C.O.D.
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Lesson 7: Receiving Merchandise When You Don't Have A Street
Address
Believe it or not, but there are literally thousands of people traveling and living full-time in
recreational vehicles who sell at flea markets and swap meets and earn a very good income
on the road.
I should know: I used to be one of them!
Living in an R.V. Is a great way to live inexpensively while at the same time affording you the
opportunity to travel to the mountains or the beach, wherever you wish, for only the expense
of food and fuel.
And no finding a motel before you can stop for the night. You already have your 'motel room'
with you.
Admittedly, living on the road does present a few unique challenges. Since many Rvrs
'boondock' at Wal Mart, truck stops and casinos, one of those small challenges would
be getting your merchandise shipped to you when you don't have a street address.
If you think long and hard enough, you'll always find a solution.
The solution to this is called “Hold For Pick Up”.
UPS has a public entrance called a Customer Counter, where the general public may
go to send packages using UPS shipping services. It's just like the post office only
without the long lines (well, except just before Christmas.)
Most people think they can only send packages from the Customer Counter, but it's
actually a two-way street. You can have packages sent directly to the Customer Counter,
where you can pick them up when they arrive.
Before you can call and place your order with the import company, you must first have
an address for them to ship the package to. So first, you need an address.
To obtain the address to a UPS Customer Counter, simply go online at http://www.ups.com .
Select your location (United States, United Kingdom, etc.) and click on the arrow to continue.
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On the left side of the next window is a box entitled 'Quick Links'. Click on 'Find Locations'.
In the next window, enter a city and state. Then scroll down a bit and un-check all of the
boxes except 'UPS Customer Centers'. Click on the little blue 'Find' button at the bottom to
continue.
The very next window will show the location information you are looking for.
Write the information down, including the zip code and the hours of operation. Some
Customer Counters are open from 9 am. To 6 p.m., while those in smaller cities may only be
open for two hours in the evening on two or three days of the week.
UPS is union and they are not open on weekends or holidays.
Once you have the address, city, state and zip code for UPS, you may call the import
company and place your order.
When having orders shipped to you via the UPS Customer Counters, it is very important that
the import company address it to you in a certain manner.
They must write “Hold For Pick Up” after your name on the shipping label.
For instance, if I were to have an order sent to me at the UPS Customer Counter in
Prescott, Arizona, it would need to be labeled like this:
Allen Farlow
Hold For Pick Up
9235 E. Valley Rd.
Prescott Valley, AZ 86314
The words “Hold For Pick Up” must be right after your name.
The above address is the actual address for UPS. However, as you may have noticed, it is in
Prescott Valley, Arizona. UPS does not have a location within Prescott, which is about ten
miles west of Prescott Valley.
UPS will only hold “Hold For Pick Up” packages for five business days after arrival, so be
sure you get over there and pick it up before they return it to the sender.
I have used “Hold For Pick Up” hundreds of times without a problem. It works.
Just make sure you pick up your package within those five business days.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
7.1 An Unadvertised Bonus For Those Who Travel (Or Would Like To)
Here's a way you can use the UPS Hold For Pick Up system to your advantage.
Let's say it is Sunday afternoon and I just spent the weekend selling at the flea market in
Prescott Valley, Arizona.
I have decided to go to El Paso, Texas and sell at that market next weekend.
But I need to order more merchandise so I'll be stocked up for next weekend. (I usually
call my orders in on Monday and pick them up on Friday, then sell on the weekend.)
I'll figure out what I need to order, I will create the order in my spiral bound notebook Sunday
evening and I'll be ready to call the order in on Monday morning.
But if I have it sent to UPS in Prescott Valley I will have to wait there until it arrives on Friday
before I can hit the road for El Paso, a good two-day drive.
If I do that and leave Prescott Valley Friday from UPS, I won't make it to El Paso
until late Sunday and will miss the entire weekend and the money I can make.
How can I get around that? Easy. I would go online and get the address for UPS's Customer
Counter location in El Paso.
Then I will call and place my order on Monday morning as usual, only I will tell them to send it
to UPS in El Paso, Texas, not Prescott Valley, Arizona.
While my merchandise is on it's way to El Paso, so am I. Since I have four days to
make a two-day trip, I can take my time, play tourist, drive slower and get better gas
mileage on my RV while also running less risk of an accident and I will arrive relaxed
instead of stressed out. Sounds like a better deal all around.
I will pick up my merchandise in El Paso on Friday and be able to make more money on
Saturday and Sunday.
I've done this hundreds of times and have never had a problem.
UPS Hold For Pick Up works great. The system is already in place. All you have to do
is use it to your advantage.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 8: How To Determine The Per-Piece Shipping Cost
On several occasions I have mentioned that you should add the shipping charges
into your merchandise costs. This will give you an accurate picture of your costs and
help you in setting your prices to allow you to earn a healthy profit.
But how can you figure out the shipping charges on each individual item? You didn't
buy your merchandise one piece at a time, so your invoice will show the shipping for an
entire box of items, not just one piece.
It's pretty simple.
To determine the average cost of shipping for each piece in an order, divide the total amount
of shipping cost by the total number of pieces in that order.
For example, if you ordered 153 individual pieces (item numbers/type of item does not make
any difference), and the shipping cost was $14.68, the individual shipping cost of each piece
would be roughly 9.6 cents, averaged over the entire order.
$14.68 divided by 153 pieces equals 0.0959477, or just more than nine and a half cents.
If the wholesale cost of one of those items is $7.00, you must sell it for no less than
$7.10 just to break even. (You shouldn't sell it for less than double your cost, $14.20.)
As your business grows and you buy more and more merchandise you stand to lose
a lot of money each year if you fail to include your shipping costs when setting your
prices.
That can easily amount to several thousand dollars in just one year. Do you really want
to lose several thousand dollars each year? I don't.
Be sure to include your shipping costs in your prices.
Figuring out the average shipping cost of each piece in an order will allow you to set your
selling price for that item to make a good profit and better determine your true profit after you
sell that item.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 9: Getting Ready To Set Up
By this point you may have:
•
Located suitable flea markets or swap meets nearby
•
Have probably visited them when they were open (that is the best way to get an idea of
what the market really looks like)
•
You have ordered and received your merchandise,
•
You've placed the invoice in a safe place (it's a business record)
and you probably can't wait to get out there and start making money.
Well, before we turn you loose on the masses, there are still a few things you need to
know to create a successful flea market and swap business.
The last thing you want to do is rush out, set up, stand there all day watching people
walk by and not make even one sale. That can be very depressing!
So let's do this right the first time and help 'guarantee' your success.
9.1 Organization
From time to time people will compliment me on how nice, how organized my display is. I
appreciate their comments because I really do put a lot of thought and work into creating a
pleasant-looking display. Their comments reaffirm that I am doing something right.
Is organization important? You bet it is.
Organization is important to reduce the opportunity for shoplifting. If there is a place for
everything and everything is in its place, it makes it much easier to tell when something is
missing, causing thieves to consider doing 'business' elsewhere.
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Your customers are often looking for a certain item. Don't make it hard for them to find
something, make it as easy as possible. Good organization allows you to do that. Make
shopping with you an easy, enjoyable experience and you will create many valuable
repeat customers.
Organization is important because it also makes your job easier. Don't remember how
much you are selling a certain item for? You could take a wild guess and overcharge
your customer, or you might give them a heck of a bargain and short yourself.
Do you really want to do that?
If you are organized and forget how much an item is, it is easy to just look at the sign for that
item and charge your customer the correct price. (They shouldn't have any problem with that.
They seen the price of that item on the sign and found it agreeable or they would not have
picked it up to buy it, right? Never hesitate to charge them the price you have on your signs.
That's what they expect you to do.)
Organization will allow you to see when you are getting low on certain items and need
to order more before you run out.
If your items are just thrown on the table willy-nilly, how will you ever know when you are
getting low on something? When you haven't seen that item in awhile? That's no way to run a
business.
Organization is important if you expect to make more money than your competition. That
alone should be enough reason for you to strive to be well-organized.
It should be important to you that your display looks appealing to the public, that it entices
them to come closer. Good organization will help you do that.
There are certain things to consider when designing your displays. If you want to make
the big money, you have to look like the big money, but that doesn't mean you must
spend thousands of dollars on your display.
It also means you can't just grab a warped piece of plywood out of the backyard and
expect people to come running to see what you have for sale.
Plain and simple, organization will put more money in your pocket, so get organized!
Think of how you want your displays to look and don't be afraid to spend a little money
to get it to look the way you want. Spending a little money now will put a lot more
money in your pocket later.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
9.2 How To Easily Create Attractive, Affordable Displays
With a little thought, some elbow grease and good old ingenuity, you can create wonderful,
functional displays for just a few dollars.
Some vendors use old wood orange crates. Plastic milk crates will work just as well.
When stacked or stair-stepped, they can be covered with a few pieces of nice cloth
to compliment the merchandise set upon it.
If you sell items that can be hung on pegs, it is very easy to create display panels,
which can be hung from the awning or connected in L-shaped configurations to be
freestanding.
I made four panels using 3/8” plywood, covered with vinyl. (Covering them with vinyl
dresses them up and allows you to use the lower-cost plywood. There's no sense paying $48
a sheet for sanded oak when cheap $10 CDX plywood will do.)
My 'pegs' are nothing more than 2.5” long drywall screws. Inexpensive and does a
great job. (3/8” plywood holds the screws well. Using plywood that is not as thick will
cause the screws to become loose over time.)
Making your own displays allows you to build them in the size and configuration you
need.
Home Depot and Lowes will cut the 4' X 8' sheets into smaller sizes for you, at no
additional charge, saving you time and energy and making them easier to take home.
Find the panel saw near the back of the store in the plywood section and have an
employee operate the saw for you. (It is not to be operated by customers for safety
reasons.)
You may need to line the edges of the plywood with 1” X 2” lumber to keep it from
twisting. Lay the plywood on top the 1” X 2” and run 1” drywall screws through the
plywood into the 1” X 2”.
Once you have the panels ready, visit a fabric store and buy vinyl to cover them. The
vinyl will need to be approximately 4” wider than the panels, leaving enough vinyl to
wrap around the edges of the panel.
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I covered four large panels for a total cost of only $27 for the vinyl.
Using a heavy-duty stapler, wrap the vinyl around one edge of the panel and staple it
to the back (into the 1”X2” lumber, then pull it tight as you wrap it around the edge of the
panel on the other side, and staple it on the backside. Pull it tight to remove any wrinkles and
staple it to the backside on the other two sides and you're done.
Creating professional-looking displays is not hard and only requires a few dollars
worth of vinyl or fabric.
To “hi-light” your merchandise, choose a light shade of vinyl if your items are a darker
color. If they are lighter in color, choose a darker colored vinyl so your merchandise
stands out.
The very same applies to your table clothes. Choose a darker color to make light-colored
items really stand out.
Home Depot and Lowes sell sections of closet shelf made of white wire. They come
in many different lengths and several widths and are quite affordable. They are excellent
for 'bridging' between two stacks of milk crates, orange crates, boxes, plastic storage
tubs, etc. or even between card tables. They can hold quite a bit of weight.
Vendors setting up at flea markets and swap meets that are paved will often lay a
nice-looking carpet on the ground. Something that simple can change the entire look
of your display and make it more inviting for the customer.
You will discover more ideas by walking around and looking at the displays of other
vendors at the market. Nobody said you can't copy them!
Also think of displays as you walk through retail stores and grocery stores, especially
the produce section. Some stores are quite creative when it comes to selling produce.
9.3 Business Equipment
There are things you will need, such as tables and a chair, which will make it easier
to do your job. (Whatever you buy, keep those receipts. They are deductible business
expenses.)
Obviously, unless you plan to lay your merchandise on the ground, you will need tables.
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You must consider space. Do you drive a large vehicle such as a full-size van or do you
drive a compact car such as a Honda or Kia? A van can haul a lot more simply because
of it's size.
If you drive a full-size van you can haul 8' tables. They'll fit. If you drive a small car,
use several card tables. (If you use card tables, you can space two tables a couple
feet from each other and bridge the gap with two 4' sections of that white wire closet
shelving. You can create an eight or ten foot table doing this. Once it is covered with
a nice table cloth nobody is the wiser.)
Unless you plan to stand all day (which can make for a long day), bring a chair. Most
vendors bring a folding chair or stool. It takes less space in the car or truck.
Music is nice as long as you keep the volume at an acceptable level (acceptable for
everyone, not just yourself. Older vendors who set up next to you may have trouble
talking to and hearing their customers if your music is too loud. I have seen vendors
get into fights over the volume of music.
Keep in mind that most people do not appreciate rap, classical, opera, etc. so consider
yourself warned.
For some reason people always like Creedance Clearwater Revival's Greatest Hits.
Whenever I would slip that cd into the boombox my sales would go up. Baby boomers
would actually dance in the aisle. Give it a try and see what I mean.
I could have sold many copies of that particular cd. Many people asked how much it
was, thinking I sold cds. Unfortunately it was my personal copy and I did not sell cds.
You'll get hungry and thirsty so bring food and drink from home. I bring a small ice
chest with ice and half a gallon of milk. There is room for small items such as string
cheese, yogurt, lunchmeat, etc.
Keep in mind that you are there to make money, not spend money. If you buy food and
drink from the concessions at the flea market you will pay higher prices, cutting into
your profits.
And while you are gone who will watch your merchandise if you are by yourself? You
could ask the vendors next to you, and they'd probably agree, but they are there
to make money, too. When they have a customer their attention will not be on your
merchandise.
But the shoplifters will be glad to watch your stuff for you...
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
The only time I leave my space is when I must go to the bathroom and I put that off
as long as possible. When I leave my space I get back to it as soon as I can. And
before I leave I place my more valuable merchandise in the car and lock it up.
Unless you want a tan (and skin cancer) you'll need an awning. I used to travel
north in the summer and spend winters down south. There were five or six years in a
row when I never seen ice or snow. But I've seen a lot of sun, and that's not so good
on the skin.
Sunblock only does so much and a large hat does not protect the arms.
Many 'newbies' will come to the flea market with their 'EZ Up' awning they bought
last week at Sam's Club.
The pros don't use those because they will not hold up very long. If you break one leg,
you'll need to replace the entire thing, so save your money.
Notice what the pros use the next time you go to the flea market or swap meet. Copy
them. They know what works and what doesn't.
The awnings the pros use are made of welded steel corners connected to each other
with 1” steel conduit, which is available in the electrical section at Home Depot. A ten foot
length will cost less than $5. (The welded steel corners are usually found at the flea
market. Check with the people who sell new tools.)
The steel conduit is easily cut to length with a hacksaw. The legs are also steel conduit.
A tarp is stretched between the poles with ball bungees which are easy and quick to
hook up (available at flea markets and places like Home Depot).
For less than half the cost of an 'EZ Up' awning you can assemble an awning that will
last three times longer.
No matter what you use for an awning, you must attach weights to each leg. This
is NOT optional!
I have seen 'EZ Up' awnings spinning in the air 50' above the ground because they
were caught by a dust devil (mini-tornado) when they were not attached to weights.
Wind is a very powerful force. If you do not attach weights to your awning, wind can
and will suddenly pick it up and send it flying across the aisle, injuring people and
causing damage to vehicles no matter what kind of awning you use.
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Legs suddenly become dangerous projectiles capable of causing serious injury and
death. This is a serious matter. Never set up an awning without attaching weights to
it or at least tieing it to your vehicle.
Weights can be purchased at Wal Mart quite inexpensively. You can also use plastic
gallon milk jugs full of sand.
Connect them to your awning using sturdy rope or chain. Don't use string or anything that will
break under the force of a sudden wind gust. A sudden gust can apply more than 100 pounds
of pressure in an instant. Make sure your lines can handle that much force.
I suggest adding at least 15 pounds of weight to each leg, but add 20 pounds and be
sure your awning won't go anywhere. I don't take chances. I use 30-pound weights on each
leg.
You need to use weights because if your awning hurts someone or scratches someones car,
you are liable for damages, not the flea market or swap meet. Yes, you as well as the other
person are on the market property but they are not liable for damages caused by you or
your actions/inactions. (Read the fine print on the space receipt.)
If you injure someone, I hope you have a good attorney.
You'll also need change. I usually bring $20 in singles, several fives and tens and
$10 in quarters.
Tip: I do not mess with pennies, nickels or dimes. My prices are all set on the quarter mark,
$4.25, $4.50, $4.75.
There will be times when I may have five or six people all waiting to buy something at the
same time. I want to take their money, give them their change, thank them and get to
the next person as fast as I can.
It takes long enough just dealing with quarters and bills. Dealing with smaller change
would take twice as long. The last thing you want is a customer who gets tired of
waiting and puts their items back.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
9.4 How To Count Change
Anyone who has a flea market or swap meet business deals directly with cash. It should
be important to you that you always return the correct amount of change on every
purchase. It is important to your customers, that's for sure.
In today's retail environment few people know how to count change, since the cash
register tells the clerk exactly how much change they should return to the customer.
Chances are pretty good you won't have a cash register with you at the flea market or
swap meet so you must know how to count change, so you can return the correct
amount to your customer, not shorting them or you.
Counting change is pretty simple. It is a counting game, nothing more.
No matter how much the total of their purchase is, and no matter how much money
they give to you, always begin with the total amount of their purchase. That is where you
start.
Let's say Joe buys three items. His total purchase costs $2.75.
Joe hands me a twenty-dollar bill.
How do I know how much money to give back to him? Easy. Start with the amount of
his purchase, $2.75
I'll say “$2.75 out of $20”. I'll hand him a quarter and say, “That makes $3.00”. ($2.75 + .25 =
$3.00)
Then I'll hand him two singles, saying, “Two makes it $5.00”.
Next, I'll hand him a five-dollar bill and say, “Five makes $10.00.” and lastly I will
hand him a ten-dollar bill and say, “and ten makes it twenty. Thank you!”
(Always remember to say thank you. They will appreciate it and will remember you,
because hardly anyone else at the flea market or swap meet says thank you to their
customers. They could become a repeat customer.)
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Did you see what I did there? I simply counted up from $2.75 (the amount of purchase)
to $20 (the amount of money Joe gave me).
That is all you do. It works the same way if you are dealing with pennies, nickels and
dimes.
Let's say Betty wants to buy $9.61 worth from me and she hands me $100.00.
Start with the amount of purchase ($9.61) and count up to the amount she gave me
($100).
I'll say, “That's $9.61.”
I'll give her four pennies (.61 + 4 pennies = .65). “Four pennies makes it $9.65,”
Then I'll hand her a dime, “That's $9.75.”
Handing her a quarter I'll say, “That makes it $10.00”, ($9.75 + .25 = $10.00)
Then I'll hand her a ten-dollar bill, saying “Ten makes it twenty,”
Then I'll give her twenty-dollar bills, one at a time. “That's forty, sixty, eighty, and one hundred.
Thank you very much.”
No matter how much money they hand you, always begin counting from the total
amount of the purchase and count up to the amount of money they gave you.
Once you begin doing that it will soon become second nature, and you will always
give the customer the correct amount of change back every time.
On a related note, sometimes people will buy a low-cost item just to get change for a
large bill. They may hand you a fifty or a hundred to pay for a one-dollar item.
Giving them change back may leave you so low on change you might not be able to
break a twenty for the next customer.
So should you do it?
If I am short on small bills on hand I won't. I simply say, “Sorry, I don't have enough to break
that. Do you have anything smaller?”
If they don't I won't sell it to them.
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That seems counter-productive, right? Actually, no. If you give all your small bills to
them to break their fifty or hundred, you will be too short on change to break a twenty
for your next customer, who may very well buy more.
You may stay too short on change to break a twenty for the next customer after that.
So being nice and breaking that fifty or hundred could actually cost you.
Sometimes that's what you get for being nice.
My attitude about it is this. They are coming to shop at a flea market. They should know
better than to bring fifties or hundreds. It's a flea market, not a major shopping mall!
We're all just a bunch of low-budget hillbillies trying to sell something to make a couple
dollars, that's all.
At least that's what we want them to think! (Wink wink.)
Important Tip: On a related note, keep your money in your pocket! Never use a cash box or
anything else to put your money in. You can turn your back just once and someone will steal
it. It happens all the time at flea markets and swap meets.
Be smart. Use your pockets.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Test #7.
(Answers can be found in Lesson #9.)
Organization is important to reduce the opportunity for ______.
Organization is also important because it makes your _____ _____.
__________ will put more money in your pocket.
Plastic milk crates can be used to create _________.
How do you count change?
True or false? Dealing with pennies, nickels and dimes will make your job easier.
True or false? Organized displays make it harder for shoppers to find what they
are looking for.
True or false? Counting change is complicated and difficult.
True or false? Organization will help you make more money.
True or false? Counterfeiters never pass fake money at flea markets.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 10: Your First Day!
So far we've looked at how to find flea markets and swap meets, what you should
consider when choosing a type of merchandise to sell and where to get it at the lowest
cost. I'm sure you've given a lot of thought to how your space will look and how you will create
your displays, and many of you may have been thinking about it as you try to go to sleep at
night. I know I did.
You are almost ready to set up for your first day.
10.1 Reserved Spaces.
There are three basic types of vendors at flea markets and swap meets.
There are the occasional sellers, those people who sell every now and then and always rent a
space the same day. They do the garage sale kind of thing.
Most of the vendors are your every-weekend types, who will rent their spaces for the
following weekend on Sunday before they leave. They have a clue how to make the big
money but either don't want to risk investing that much money in it or just aren't quite sure
how to break into the big time. They may also be afraid of success.
Then you have the pros. They are there to make the big money and they aren't screwing
around. They will rent three, four, five spaces or more in a row, and spending $200 a
day on space rent doesn't even faze them. (That gives you an idea of how much money
they are making each weekend.)
The pros actually don't rent, they lease. They sign long-term contracts with the flea market or
swap meet to guarantee they will have those same spaces every weekend. (Doing so also
gets them a break on the space rent. They pay less per space than the other types of vendors
because they are renting a lot of spaces for a long time.)
Why would they want to set up in the same spaces week after week? Because it is important
that your customers be able to find you when they want to buy what you sell. They can't do
business with you if you are moved to a different location every weekend.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Starting out, I would suggest you visit the flea market or swap meet on a Saturday or
Sunday when it is open for shoppers and just walk around, paying particular attention
to the 'busy' places, the parts of the market where the shoppers seem to be hanging
out.
That's exactly where you want to be. You do not want to rent a space on the far
side of the market where only five people out of one hundred see you.
Write down space numbers and row numbers of the busy places. Then go to the office
and see if you can rent a space in one those busy places. (You will not be renting the
space for that day, you'll be reserving a space for the following weekend. Reservations
must be paid for in advance.)
Once you pay them, they will give you a reserved space ticket. Do not lose this. You will
need it to get through the gate next weekend.
Reservations are not guarantees. Reservations do expire (check the fine print on the
ticket. Most expire at 8 am) and if you are not in your space before that time the market
reserves the right to rent your space to someone else. If you show up late you may
get a refund of your space rent, you may not. It varies from market to market.
Just show up and be in your space before your reservation expires. (If you show up late
you'll also miss out on a lot of shoppers who gave their business to someone else!)
You may have to deal with 'squatters' from time to time if you reserve a space in a very good
section. 'Squatters' are people who don't have a reservation. They will pull into your space
before you are there and hope you fail to arrive before your reservation expires.
If you arrive and find a 'squatter' in your reserved space you have every right to tell them to
get out of your space. 'Squatters' can be quite arrogant and take their sweet time getting out
of your space when you show up, especially if they are Hispanics. (Don't call me a racist, I
speak from experience.)
If you come across someone who refuses to move, notify the office and have security handle
it. Handling it yourself could result in a fight and that will get you kicked out, even though you
were in the right.
In Arizona shoppers show up as early as 4:00 am with their flashlights if the flea market is
open that early. Many are. (They are wise enough to beat the heat. Shoppers and vendors
there begin packing up around noon.)
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Some flea markets open very early, while others don't open the gates until 7 am.
There are advantages to getting there as early as possible. When you get there early,
you don't have a lot of other vehicles and vendors in your way. It's easier to get your
vehicle into your space. Some spaces are small, making it quite difficult to park in your space
if you get there after the other vendors have set up their displays and tables. You may find
many vendors will also set their tables across the line into the aisles, even though that is
against the rules, making it even more difficult to turn corners.
Many vendors also drive large box trucks. They must park in the aisles while they
unload and you will not be able to get through. You'll have to back up and find
another clear aisle to get into your space. That can be a pain.
10.2 Unreserved Spaces
What? You didn't reserve your spaces ahead of time? Relax. It'd be a lot better if you
reserved but it's not the end of the world.
Pack everything into the car, drive to the market and find out where you can rent a
space for that day. It varies from market to market. Some have a Same Day Rentals
booth in the parking lot, while others make you walk to the office, which may be in the middle
of the market. (That doesn't sound so bad until you realize the middle of the market is almost
half a mile from the parking lot!)
Some flea markets, such as the one in Shepherdsville, Kentucky, will let you just
drive in and find a space, and they'll walk around and collect the rent a little later
that day.
Beggars can't be choosers and the good spaces for the day were rented last week, last
month, last year (?). Oh, yeah, that's assuming there are any spaces still available.
Many flea markets will sell out, especially during the summer up north and during the
winter down south.
If you don't rent ahead of time you'll have to settle for spaces that are on the edges of
of the market where perhaps only 15% of the shoppers walk. That will really cut into
your sales and profit. (See? I told you it's be better if you reserved!)
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
While you are at the flea market (in your less-than-desirable space) I would suggest
you go to the office and reserve spaces in a better location for next weekend. Once
you are able to get spaces in a very good area of the market (where the shoppers hang
out) be sure to reserve them as far in advance as possible.
Here's why.
People can get the jump on you if you are not careful. You may reserve a very good space
and decide to go to the office Sunday afternoon to reserve it for the following weekend, only
to discover someone else reserved your space before you could get to the office!
Now you'll have to move to a different space, and if it is several rows over, will your customers
know where to find you?
This is why it is good to reserve ahead of time. If you can reserve on a monthly basis, do so.
You will avoid losing your space to someone else.
Important tip: Except for the 'pros', who mostly lease their spaces, the vast majority of the
every-weekend sellers rent their spaces only a week or two ahead of time, and you can use
this to your advantage!
When you find a desirable space in a very busy part of the market, go into the office and ask
them if it is leased or just reserved for the next few weeks. If it is not leased, ask how far into
the future that space has been reserved.
Now ask them if you can reserve that space when the current reservation runs out.
Depending on the flea market management, they may or may not allow you to do that. They
all operate in their own strange ways, so be prepared. It could be they'll say no because that
space is reserved by a person who has been selling there for the last twenty or thirty years.
Flea markets do have their favorites and they won't give their spaces away.
But it never hurts to ask. They just may say yes. Bring cash and be ready to pay up front.
If they say no, ask about other spaces nearby. Get as close as you can to the busy sections
of the market.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
10.3 Selling
Are you afraid of selling because you think you don't know how?
Don't worry about it.
Selling is not really selling. It is just another word for helping, and you know how to be
helpful, don't you?
Believe it or not, we all have sales experience. We sell ourselves every time we apply
for a job or meet the next love of our life. And we sell the hell out of it!
There is no need to have a college degree in marketing. And you don't need to have a
resume' full of past sales jobs.
All you have to do is set your tables up and place your merchandise on them. Shoppers
will begin walking over to see what you have. When they do simply treat them like a
friend. Begin with a happy “Good morning!”, or a “Hi!”, or a “How ya doing?!”
And say it with a smile. People can 'hear' a smile.
Be helpful but don't pressure them. Nobody likes a high pressure sales pitch. Watch their
eyes and get an idea of what they are looking at, but don't be obvious.
You might point out certain things about items they may be looking at, things they may
not be aware of. For instance, if they are looking at a magnifying glass you could
tell them what magnification it is or whether the lens is acrylic (another fancy way to
say plastic) or glass. Glass is better, harder to scratch.
If you sell scented candles you might describe how that candle can fill an entire room
and how nice the scent would smell.
I've always wished someone would make a scented candle that smells like fresh baked
bread. That would be a good candle for anyone trying to sell their home. Realtors would buy
them by the case!
One thing to know is the difference between features and benefits. A feature would be
how many gears a bicycle has. A benefit would be what those gears could do for you,
such as go faster or make it easier to pedal up a hill.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Stress the benefits rather than just the features. People are more interested in what
it will do for them, how it will make it easier for them, than they are in the features.
Remember that this may be the first time they have seen something like that, and they
may not realize exactly how it can make their life better. Point that out to them in a
nice conversational manner.
Be helpful. Just talk to them. That's all you have to do.
But also know when to stop talking. Experienced sales people have developed a
sixth sense about when to speak and when not to. Tell the customer what they need
to know and then be quiet. Put the ball in their court and wait for them to pass it.
Humor is always good. It's the same as being in a good mood. People do not like
being around people who are in a bad mood. People like comedians for one reason:
comedians make us laugh, and when we laugh we feel good.
People will spend more money when they are in a good mood, laughing, feeling good.
You being in a good mood will put more money in your pocket.
I have a small sign on my display that reads, “High heels were invented by a woman
who was kissed on the forehead.” (I don't know who first came up with that, so I can't
give them proper credit. It was not my invention.)
I don't know if it is true or not but people will read it and laugh. Women will get their
husbands and husbands will get their wives. It's something people want to share.
That one small sign puts people in a good mood and it increases my sales. Feel free
to put it on your display.
More importantly, it tells me that people are reading my signs.
Speaking of which...
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
10.4 Signs
Signs have the ability to give your customers the impression that you are running an
actual business.
Or not.
So often I have seen a vendor rip a piece of paper out of a notebook, scribble something on it
with an ink pen and tape it up for the entire word to see. That's their sign. And then they
wonder why they aren't making any sales.
If you want the big money you have to look the part and this definitely applies to your
signs. They are among the first things your customers will see when they come to your
business and they should give an inviting welcoming impressions.
First impressions are still the most important.
From a distance, which at a flea market may only be ten or fifteen feet, people make a
decision based upon what they see and quickly decide if they want to stop or not.
Don't make signs that chase people away!
We can't always afford to have signs professionally made, but if you can I highly
recommend it.
Would you expect to see handwritten signs in the windows of a fine jewelry store?
Of course not. But just because you are doing business at a flea market doesn't mean
your signs should look junkie, especially when you are selling brand new merchandise.
Professionally-made signs give the impression that you are serious and your business
is, too. It lets everyone know you are there to make money, you won't dicker on your
prices so don't even try it. (People will still 'bargain' with you, but good signs will definitely
reduce the number of people who try to get you to drop your price.)
Notice the signs in major retail stores when you drive past. Are they made of spray
paint on butcher paper? Of course not. The signs are professional and the business
is, too.
Your signs will tell the customer a lot about you and your business. Make sure they
give them the right message and not something else entirely.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Be descriptive in your signage. If a grocery store advertises tangerines, the sign won't
read “Tangerines, 5 lbs / $1.00”.
It will read “Ripe Juicy Tangerines, 5 lbs / $1.00”
Ripe, juicy tangerines taste much better and people will buy them.
Does Coca Cola taste good when it's warm? No. Everyone knows Coca Cola should
be cold. That's why Coke advertises it as 'Ice Cold Coca Cola”.
They state the obvious and you should, too. If you sell pocket knives, your signs should
read “Sharp Pocket Knives”. Everyone knows pocket knives should be sharp, but stating the
obvious reenforces it in the buyer's mind and makes then want one.
Nobody wants to buy a dull pocket knife.
Kids say you can always run faster in a brand new pair of shoes, know what I mean?
Make sure your signs trumpet the right message and watch your sales grow.
10.5 Making Your Space Stand Out
Despite the fact that your displays look professional and your merchandise is well-organized
and clearly priced, your small business may still blend in and disappear among the many
other small businesses around you at the flea market.
That's not something you want. If there is ever a time to stick out in the crowd, this
is it!
Look around you at the flea market or swap meet and I'm sure you'll see different ways
vendors employ to attract attention to their business. It might be brightly-colored helium
balloons or pleasant music. It might be large, bright signs trumpeting a sale or the promise of
a free gift with every purchase.
It could also be something as simple as a cheery “Good Morning!”
People love music. Some like to listen to it, while others like to play it. Some vendors
will get their guitars out of the car and play music, maybe even sing a song. (I have.
It's a fun way to pass the time when things are slow.) Some will play their harmonicas.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
I used to sell slide whistles. They work just like a trombone. When you push the slide
out, the tone goes lower. When you pull it back in, the tone gets higher. I practiced
and can actually play songs you would recognize (not very well, though).
Most people are unfamiliar with what they are so I would play one for them. I would
play a bit of 'Happy Birthday'. People would laugh and have to buy one then.
But I also noticed that people fifty feet away heard it, too. They wondered where the sound
came from and would walk straight to my space looking for it. Most people would buy one,
and a few other things as well.
I did the same thing when I sold harmonicas. The sound let my space stand out in the crowd
and put more money in my pocket.
The same can be done with color. Use it to your advantage.
Walk some distance away from your space and see what it looks like. Does it blend in or does
it stand out? If it blends in you need to make some immediate changes.
One would be to buy poster board in florescent colors. They are very bright and can
be seen from a good distance. You can use them for your signs.
If you have electricity to plug into you can use flashing or revolving lights. You can buy
lenses in different colors such as red or blue.
If you do use lights, be prepared for offers to buy them.
I bought brightly colored inflatable aliens. They were almost five feet tall and definitely
stood out. I only bought them to add color to my space but within minutes people
were asking how much they were!
I didn't buy them to sell. I never thought anyone would actually want to buy them.
I knew off the top of my head I paid roughly $1.50 each, including shipping, so I told
someone they were three dollars.
I was sold out in less than an hour! (Did I buy more? You bet!)
You can pick up a lot of ideas by browsing in party supply stores, too.
There are many ways to make your space stand out in the crowd, and doing so will
put more money in your pocket.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
10.6 Pricing
It is your business and you can set your prices as high or as low as you want. It is
entirely up to you.
Keep in mind, though, it is possible to price yourself out of business with prices that
are too high as well as too low.
If your price is too high the customer may feel the item is not worth that much.
If your price is too low they may think the item isn't any good.
You may think you are giving the buyer a great bargain, but since your price is incredibly low
they may get the impression you have no confidence in the quality of your products.
Many retail stores mark their merchandise up three times the cost. If an item costs
them one dollar they price it at three dollars to the public.
The buying public has become accustomed to paying that much. Don't try to change
their expectations. It'll cost you a lot of money in missed sales.
If you want to sell your merchandise at low prices it's better to have a huge sale.
You could say you got a great deal on it and are “passing the savings on to you”, the
buyer. Stores do that all the time. Buyers are used to it and will take advantage of it.
Just be sure to post your normal every day price for that item next to the sale price.
You could also mark your merchandise up three times your cost and that will be your
price. This will leave you room to come down a little when someone tries to bargain
with you.
The important thing is to keep your prices below the retail prices in stores, if what
you sell is also available in stores. People shop at flea markets and swap meets
because they know they can save money by getting items for less than they would
pay in stores.
Be sure you post the retail price on your signs next to your lower price to point out
how much the customer is 'saving'.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
If you find a certain item is selling very well at your current price, perhaps your price
is too low. If no one else in the flea market is selling that item, consider raising the
price a little and put more money in your pocket.
Another way to put more money in your pocket is to encourage your customers to buy
more than just one or two items at a time.
Let's say you have an item that people are buying for $1 each. It is an item that they
will need more of later, so if they were to buy several of them now they would use
them in the net few weeks.
But everyone only buys one or two of them at a time.
To encourage them to buy more at a time, price them at $1 each or 5 for $4. They'll save
a dollar, you'll move more of them at a time and you'll actually put more money in your
pocket by giving them a break on the price. (Of course, they only get the $4 price break
if they buy 5 of them. If they only buy one or two, they are a dollar each.)
You could also try selling them 10 for $8.
Before you do this, however, you must know exactly what your cost is, including shipping,
per piece of that item. You don't want to give your merchandise away.
As discussed earlier, you will save money by buying in large quantities, and you'll
build your inventory quickly.
Buying in large quantity will allow you to increase sales by utilizing the “WOW!” factor, as
in “WOW! LOOK AT ALL THAT STUFF!”
It's true that the more you have the more you'll sell.
Who do you think will sell more rubber duckies each day, a guy with ten or fifteen
of them neatly lined up with their other merchandise or a guy who has a huge
pile of hundreds of them dumped on a table or a tarp?
The person who sells more is the person who makes sure everyone can clearly see, not just
up close but also from far away, that they sell rubber duckies.
If people don't know what you sell or how much it is, you'll never sell anything...
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Because you get a lower price by buying in large quantities, you can have a 'sale' and
sell many of that item at a lower price than your competition. That guy with ten or
fifteen rubber duckies won't sell any if he sets up next to me!
You can also post signs saying the more you buy the more you'll save, meaning the
higher your total dollar amount, the more of a discount you'll get.
For instance, any purchase of $20-29.99 gets a 10% discount. Purchases of $30-$39.99
get a 15% discount, and so on.
This will encourage someone buying $15 or $16 worth to buy a little more to put their
total over the $20 mark and save 10%. People really do get crazy about saving money when
they buy something. Discounts can be very effective.
If you do this, be sure you keep your calculator handy so you charge them the correct
amount.
Experiment with your pricing and find what works best for you.
Before long you're sales will grow and you'll buy more and more merchandise each
week. Your business will become a great success.
You will need to collect sales taxes on every purchase if you have a resale permit, at
least that's what the state wants you to think.
Cash registers will automatically calculate the state sales tax for you, but if you don't
have a cash register you'll need to calculate it yourself with a calculator.
So imagine seven or eight people standing in line waiting to buy something while you
take the time to figure out what 7.937% of $19.32 is...
That's just not going to work. You'll have people putting their merchandise down and
walking away.
Instead, tell everyone sales tax is included in the displayed prices. Make it clear that
you do not charge any more than those prices. That alone will spur some into
buying from you.
Keep track of the total amount of money you 'pulled in' for each day. (You should be
doing that anyway.) When it's time to send some money to the state to keep them
happy, deduct the sales tax percentage from your total sales and send it in.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
For example, let's say you had total sales of $13,923.00 for August.
The state sales tax rate is 6.728 %.
Multiply 13,923 by 6.728 (13,923 X 6.728) but do not push the = key! Push the % key, and
you'll see the total of 936.73944.
That means 6.728% of $13,923 is $936.74.
Send that to the state revenue office and all will be good.
Now, how would you like to keep more of your hard-earned money in your pocket?
Do you think every vendor declares the real amount of sales they have? Of course not!
No one knows how many sales you get each day except you. No one knows how many
'deals' you made in any single day except you. You may have sold an item to someone
for $18, while a little while later selling the same item to someone else for only $15
when they asked if you'd bargain with them on the price.
You are the only one who knows because you do not keep a cash register receipt of
every sale.
And the state knows that. So quite frankly, they will be happy with whatever you remit and
they won't question it.
So should you be honest and declare the real figures? Honesty is the best policy but
many feel the state wastes their tax money in a lot of ways and they wouldn't be far
from the truth, I'm sure.
And what could happen if you didn't send it all in? The state can't prove exactly how
much money you pulled in because you get paid in cash and you give discounts to some
people while others pay your asking price. Instead, they figure up an average amount sent in
by all the other vendors and figure that's what you should be remitting.
And quite frankly, that average amount is usually way off from reality.
So as far as taxes go, that's up to you.
I'm just sayin', that's all.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
10.7 Determining Profit
If you expect to be able to determine how much profit you made, you must first
figure out how much money you began the day with.
I usually have exactly $100 in bills in my pocket. (I don't bother counting the quarters.
It wouldn't throw the figures off that much.)
The two things you'll want to know at the end of each day is “money pulled in” (sales) and
“profit” after expenses are deducted from the money pulled in.
Money pulled in is the total amount of sales for that day (including sales tax).
To determine your profit, deduct the amount of money you had in your pocket for change at
the start of the day.
From what is left over, deduct the sales tax. That goes to the state.
Now deduct your expenses.
Expenses would be things such as space rent, the wholesale cost of the merchandise
(including the shipping costs) that was sold that day, maybe that hotdog you just had to have.
Your profit is what's left...
When I first started I would keep track of everything like a maniac. I would write down
what item I just sold, how many and how much I sold it for.
Let me tell you, when you sell 1,000 items in only five or six hours, that's a lot of extra work!
But it allowed me to gain an understanding of how much my merchandise costs were
for the merchandise that was sold each day. I found that it came to an average of
33%.
After that I stopped keeping track so closely and just went with 33% as my merchandise
costs. It's an average. Some days it was too much, other days it didn't seem like it was
enough. Over all it works.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Test #8.
(Answers can be found in Lesson #10.)
Selling is just another word for _______.
Professionally-made signs give the impression that you are ______ and your
business is, too.
Is it a good idea for your business to 'stick out'?
Many retail stored mark their merchandise up ____ times their cost.
It is possible to price yourself out of business with prices that are too ____ as well
as too ____.
Profit is the amount of money left after deducting your _______.
True or false? Nobody wants to be helped, they prefer to be sold.
True or false? It's better to reserve your spaces ahead of time.
True or false? It doesn't matter where in the market you set up. The spaces are all
the same.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 11: The Step-By-Step Plan In A Nutshell
1. Open you first small business in a large, very busy flea market or swap meet, one
that is open all year, every weekend. Get comfortable with it.
2. Allow your business to grow by simply putting the profits back into it. Buy more
merchandise each week and don't quit your day job yet.
3. Once your original business is established use some of the profits to open your
second small business. Repeat #2 above. Begin buying in larger quantities to
take advantage of the lower case prices.
4. The profits are coming in faster now. Use them to open a third small business.
Repeat #2 and #3 above. Think seriously before quitting your day job.
5. Lather, rinse, repeat.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 12: Safe Cash Management
As your small business empire continues to grow your problem with money will change
from not having enough to having too much. Too much cash, that is. The problem
will be how to get the cash safely to a bank.
As a small business owner, it is up to you to keep an eye on how much cash each of your
helpers has on hand. You do not want them to have too much. I have personally had many
days when I would have a folded wad of cash in every pants pocket from just running my
original business. (I made change from only one of those pockets, of course.)
You never want to pull a huge wad of bills out of your pocket to make change for a
customer and you never want your helpers to do that, either. Most people think we are
just ordinary folks trying to make a couple bucks at the flea market and that's exactly what we
want them to think.
Be sure you stop by each of your small businesses several times a day to collect excess cash
from your helpers.
I mention this for two reasons.
First, when you or your help pulls a large wad of bills out to make change, it opens the door to
theft. All some young kid needs to do is quickly grab the wad of bills from your hand and take
off running. I have seen it happen.
Secondly, certain people will 'target' you for a robbery.
I don't mean to scare you but I want to make sure you are aware of a growing problem.
Illegal immigrants in Phoenix, Arizona have learned a new trick. They will walk into a
flea market or swap meet posing as a shopper. When they find a vendor selling high value
items such as leather jackets they will watch them for awhile and see how many sales they
are making.
At the end of the day when that vendor walks to their car the illegals will rob them at
gunpoint in the flea market parking lot. Sometimes they will quietly follow the vendor home
and then rob them in their home. The victims will be left beaten and tied up and they will be
lucky if they are not shot.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
So far the problem seems to be Spanish-speaking illegals attacking other Spanish-speaking
people because they speak the same language.
It is only a matter of time before this begins to spread to English-speaking individuals.
The best way to avoid all of this is to learn safe cash management techniques.
Always be discreet when collecting cash from your helpers. Never flash it around.
It is your business and only your business. No one should ever know how much cash
you are collecting each day. Be safe and keep your mouth shut.
The flea market or swap meet most likely operates the concessions. Everyone needs
to eat and those concessions bring in thousands of dollars each day, all in cash.
Most large flea markets and swap meets also charge a dollar or two from the shoppers
at the gate. That can be another $30,000 a day, all cash.
How do they get the cash to the bank? They put the cash into the safe in the office and
contract with an armored car service, which picks it up on a weekday when the selling area is
closed. Perhaps you might be able to contract with the same service.
You could also become a concealed-weapon owner and be able to defend yourself
on the same level when approached by people looking to do you harm.
If you choose this avenue of defense, make sure you know the local laws of your area. Know
how far you can legally go in defending yourself. Shooting someone when you had the ability
to flee could land you in prison, even though you thought you were doing the right thing.
It's amazing how often criminals will sue their victims for hurting them!
The best way to handle all of this is to keep secrets, which means simply keeping it
to yourself. If they don't know you have cash on you, you won't become a target.
But pay attention to who may be watching you throughout the day.
At the end of the day, get in your vehicle, lock the doors and leave the market immediately.
Watch your mirrors and know if anyone may be following you. If you suspect someone is
following, call 911 on your cell phone and explain the situation. Do not stop and become an
easy target. Keep moving. Do not lead them to your home.
Stay on the phone with 911 and let them know your location until an officer locates you. Try to
remain calm and in control. Stop only when you are near a police officer and wave at them.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Lesson 13: Creating Semi-Permanent Setups
As you build your first small business and think about opening a second, you will learn
it is a bit of work to pack everything up at the end of the day (when you are tired) and
take it home with you, knowing you'll have to do it again tomorrow or next weekend.
Even though you may have developed a system to make it as quick and painless as
possible, it is still wearing.
The best thing to do would be to figure out a way to leave it at the flea market and
swap meet. Then all you'd need to do is open in the morning and close in the late
afternoon.
One option would be to create semi-permanent setups.
You could rent an inside space in a large building (many flea markets and swap meets
have them), one where you pull your tables inside and close the doors but you will
increase your expenses (rent) while at the same time possibly making fewer sales. It
seems in many instances shopping in the buildings is too much like shopping at Wal
Mart, and we all know how much we love that.
Many shoppers avoid the buildings just for that reason.
Most shoppers at flea markets and swap meets enjoy and prefer the adventure of
shopping outdoors. It seems to add an enjoyable dimension to the shopping experience.
The space rent for outside spaces is much more affordable.
Flea markets and swap meets create a lot of garbage. (I know this doesn't seem
related but bear with me.)
At the end of the day after everyone has gone home the cleaning crew will begin their
work using backpack blowers and large vacuum trucks.
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
The cleaning job takes hours to do. If the crew has to work around awnings and
vendor's tables the job could take much longer. Many flea markets and swap meets
require vendors to remove everything from their spaces at the end of the day for that
reason.
However, if you look you will find many flea markets and swap meets that allow vendors
to leave their awning poles and tables on their spaces when they are closed. Just being
able to leave your awning poles up (with tarps rolled up and bungied to one side to
keep the wind from blowing them) and tables on your space can be a huge help.
13.1 On-site Storage
Another option would be the many flea markets and swap meets that have small
storage buildings or containers on the spaces. This would allow you to place everything
inside, lock it up and leave it all week. (Many flea markets and swap meets also have
on-site security guards that patrol the premises when they are closed.)
You may be able to build your own storage building for your space if the flea market
allows it. You'll probably need to sign a long-term lease agreement with them for that
space since they wouldn't be able to rent it to anyone else.
The space rent for spaces with storage buildings or containers will be more than bare
spaces but I think the added cost is well worth the convenience of being able to leave
everything there during the week.
13.2 Enclosed Utility Trailers
Another option would be enclosed utility trailers.
You can store everything you need for two or three small businesses in one 10' enclosed
trailer, including the awning poles.
The flea market or swap may allow you to leave the trailer on your reserved space
when the market is closed. (Just be sure to remove the wheels and put a strong lock on the
tongue and doors to make sure it's all still there when you get back.)
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Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
If not, they may have a secure storage area for rent where you can leave your trailers
during the week. Or perhaps there is a mini-storage near the flea market or swap meet.
If not, you may need to pull the trailer home with you. That may become several trips
with several trailers after building your small business empire. (A small price to pay for
the amount of money you'll be making. It's just on weekends, after all.)
It's not necessary to buy factory-built enclosed trailers. They can be rather pricey.
Instead, you could buy used flatbed trailers and enclose them yourself if you are handy with a
saw and a screwdriver. Enclose them with 2X2 lumber and luann plywood. You will have an
enclosed trailer for half the cost of a factory-built trailer.
With a little thought you may come up with more ideas of how to make your small
business empire easier and convenient for you.
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All Rights Reserved.
Allen Farlow's 'Insider Secrets' Of Selling At Flea Markets
Good Luck With Your New Business!
You are going to discover that selling at flea markets and swap meets is a fun way to
make money, get paid in cash and have all week to do what you want.
You now realize it is possible to begin with just a few hundred dollars and in less than
one year create an incredible small business empire that allows you to earn a sixfigure
income just working a couple days each week.
This business is great if you've ever wanted to travel. If you don't want to create a small
business empire, selling at flea markets and swap meets is an excellent way to make
money on the road.
Many retired folks live in their RVs full-time, sell at markets and travel all over. It's ideal
for couples. They could each have their own small business and make twice the money.
(And it gives them a little time away from each other, too!)
Talk about a great lifestyle! Go north in the summer, south in the winter and never fight ice
and snow. Stay as long as you want on the ocean beach or go hiking and biking in the
mountains. It's completely up to you! There are flea markets all over!
Best of all, you don't have to wait until you are “retired”. You don't have to wait until you finally
get that pension. Simply buy merchandise, get your tables and chairs ready and make money
on the road.
Most of us tow an enclosed trailer behind our RVs. That's where we keep the business. It
offers us the extra space for merchandise when our suppliers have a major sale so we
can stock up.
And if we're ever “in the area”, we can always swing by and meet the people we talk to on the
phones, and stock up while we're there and save on shipping!
No matter if you decide to travel and make money on the road or stay at home and build
a small business empire, selling at flea markets and swap meets is one of the best ways
to start an actual small business. Low costs, low overhead and great profits!
Good luck with your new business. I'll see you at the flea market!
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