SET OUT YOUR STALL How to Make the Most of Market Trading Chris Savage Projects Manager chris.savage@nmtf.co.uk Rachel Harban Deputy Projects Manager rachel.harban@nmtf.co.uk 01226 749 021 www.nmtf.co.uk What is the NMTF? • • • • • Not-for-profit Trade association Run by traders Membership Diverse group of members • Representation • Industry leadership #marketsmatter The Markets Industry • “A concourse of five or more buyers and sellers” • Fairs, festivals, car boots… all markets! • Street trading… a market in everything but law • Public vs. Private vs. NotFor-Profit • Trade associations • National Government • The most important people… small businesses like you! #marketsmatter Trading in London Local Authority Private Operator • • • London Local Authorities Act City of Westminster Act Food Act • • • • Street trading Licence Can stipulate toll, location, size, days, times, goods sold… Tolls cover basic provision Service charges Right of appeal, to complain • • • • • • #marketsmatter • • • • May have to permission from franchise rights holder Planning Permission Markets… mostly License, lease or nothing! Can stipulate charge, location, size, days, times, goods sold… Make a profit! Service charges Right of appeal…? So you’ve got a business idea… Competitors Customer needs Finances Business Plan Unique selling point Retailing Market research #marketsmatter Preparing to go… Risk assessments Food hygiene Equipment Market Trading Insurance Budget Tax and selfassessment #marketsmatter You’re on the way… Stock insurance Safety and security Get to know the traders Know your rights! On the gaff Customer feedback #marketsmatter Prepare for bad weather Get there early Stay on top of it… Retail training Opportunities are everywhere Positive attitude Digital marketing Embrace change Check out new markets Listen to customers Monitor competition #marketsmatter Join a trade association ENJOY TRADING! Visit us on stand T470 Chris Savage Projects Manager chris.savage@nmtf.co.uk Rachel Harban Deputy Projects Manager rachel.harban@nmtf.co.uk 01226 749 021 www.nmtf.co.uk