Lesson 5: Marketplace Rules
Turning up to the marketplace unprepared can cause some serious issues, not least if you are turned away from selling your products, but later if you have contravened the rules and are banned. That equates to lost trading and ultimately losing out on getting your stall business up and running!
A little research goes a long way. It will almost certainly reflect on the way you talk to potential customers if you start your day with an argument with management or have been told you cannot trade in a certain area.
In this lesson, you will learn what common marketplace rules you’ll normally find, and some questions to ask when enquiring about selling at your local marketplace.
Who does this belong to?
All marketplaces are owned by a business or someone. Whether it be a company, individual or the council, every one will have a management department that deals specifically with enquiries from market traders.
Before attending a local market, call, email or search the website for the list of marketplace rules in place for that specific marketplace.
Being on good terms with management will certainly make your selling day easier and smoother than getting off on the wrong foot with a poor marketplace experience. Even though you are your own boss on the market stall you are still required to follow the rules when on private property.
Just as you would if someone visited your own home you would have certain expectations about the way they conduct themselves, so you would be expected to conduct yourself in the same way in whatever marketplace you go to sell in.
1. Locate your marketplace owners website and contact details and enquire about rules.
Type of Marketplace
To sell to the right audience you need the right place to trade. Imagine I am out looking for shoes and all I find are specialist ladder sellers or fresh Koi carp stalls. It wouldn’t suit me and I would leave.
This is the basis of right targeting, which we will develop later on in this course, but the underlying premise is you sell to the right market – the right audience!
Know your local marketplace. I am sure you have been to a market and noticed that it was selling fruit and veg and stuck in the corner is a person trying to sell plastic toys looking all sad and forlorn. That is because the type of audience is wrong for that stall.
What is the common theme of your marketplace of choice? Are they artisan, fruit and veg, or bric-a-brac? Can your product appeal to the audience that is visiting? If you are unsure, call the marketplace and ask what type of marketplace they have. You will be much better off knowing before you go.
2. KNOW THE THEME OF THE MARKETPLACE
Start Times
Treat start times as the one marketplace rule you cannot break. Marketplaces are very strict when it comes to setting up on time and having stall traders ready for customers.
Think of it as a big department store. You check the time it opens and it says 9am. You arrive at 9am and the doors are opened, but when you get in there are boxes on the floor, people wondering about, the till isn’t working yet and some areas are empty. You won’t be back!
Alternatively, you turn up at 11am and there are still areas of the shop setting up for the day. I guarantee you will not have a good impression of the store, so it is with the marketplace.
The marketplace is its own ecosystem and exists to serve customers as well as traders. All three cannot exist by themselves and each is reliant on the other to succeed.
Without traders, customers have nothing to purchase. Without customers, traders cannot make any money, and without a recognised location for everyone to visit, neither can benefit.
You are about to become part of a team of people who work together to ensure quality service for visitors and traders. BE ON TIME!
Normally you will need to arrive early and you will be given a spot by the organiser of the marketplace. Sometimes, there are no other rules than be there at 6am and set up wherever a table is free, but normally you will be assigned a location in the marketplace.
If the marketplace deals with freshly produced food, you will have priority if you are bringing your own homemade products over someone who has bulk purchased their items to sell. If you are late – you will be turned away!
3. KNOW THE START TIME OF THE MARKETPLACE
Stall Necessities
Rent
Every stall has rent attached to it and normally you will pay for the rent for that day at the point of entry or during the course of the morning.
Regular stalls in a market may pay via Direct Debit or monthly. Know the fees before hand and have it ready.
Stall Size
Find out before you go what the size of the stall is. Knowing this information will allow you to take the right amount of stock and will have you setup for the day. You can plan your display at home before going and be ready to set up straight away! Don’t encroach on your neighbours stall space! You won’t make good friends.
Necessary Items
Know what the marketplace provides and what it doesn’t! Some provide electricity, some don’t. Some have tables already setup, some require you to bring your own or rent one from the organisers. Find out if you need a weatherproof stall if you are outside, or if it is an inside marketplace. Do you need any other items like a chair, bulbs, tarpaulin, plastic etc!
Important Contact Details
Find the numbers of the organisers and their security protocols. If you get into a tangle with a grumpy customer that you need resolved it is easier to have the number directly in your phone so it can be sorted out quickly. You should not feel threatened in any way.
4. Know what you have provided and what you need to bring with you to set up.
Arrivals
Be prepared for a bit of standing about in the early hours of the morning. Arrive early and get your name down. The organiser of the marketplace will normally assign everyone a place in due time but be prepared to wait a little.
Use this time to get to know your fellow traders. Networking! You never know who you are going to meet and how they may either be of help to you or where you can send other customers too when they ask for a particular product. (They will send folks your way too…)
To become part of this delicate ecosystem, being part of it means you will need to integrate with it too.
Use your time wisely. Don’t waste it just standing around or using your phone. Watch what others are doing, how everyone seems to ‘know’ where to stand and who to talk to. Perhaps even use this time to prepare labels or organise your next product ideas. Be proactive.
5. Be early and use your time wisely
Respect your Fellow Trader
A brief point but don’t be an idiot here. Sure you are desperate to get the best position and you want to make the most of your day, but don’t go in upsetting other traders because you want to push to the front. It is a close knit community and you will soon find you are on the outside of this community.
I am not saying be a shrinking violet, but at the same time respect others who trade on a regular basis. You may just be setting up your stall next to the person you pushed in front of or shouted at!
6. Respect your fellow trader
Location location location
As the famous TV show tells us, it is all about location where you buy your home. The marketplace is no different.
If you can be in an area of high foot traffic great, or in a visible location. If the organiser puts you in a place where you don’t see much traffic, remember to move the next time.
Often longer standing stalls will know where the lay of the land is and how they are placed. You will get there too with regular visits and your can-do attitude.
Equally, it may not be apparent why an organiser is arranging traders in a certain way. They know their marketplace. It is in their best interest that customers find what they are looking for and so may be trialling you out before you get the better spot.
If you are in a marketplace which doesn’t assign tables, think where best you will be seen and how you fit with other stalls.
When you are doing your research on a marketplace walk around and notice areas where your eyes are naturally drawn to. Setup there! It isn’t the only place to set up and attract attention, but it certainly helps.
A good display, quality products and great service obviously win the day, but it cannot help to be in the right location too!
7. If possible choose a location that highlights your stall
Stall Setup
Now to the setup of your stall. Make it attractive to customers. Use a table-cloth, presentation boxes to created different heights, slopping displays. This is your own personal flare!
Ask if music is allowed before going to the marketplace. Nothing like dragging a massive boombox to find no music is allowed. Equally, don’t drown out everyone else around you with music if it is allowed!
Know your pricing before you go and make sure your record keeping is easy to access and can be updated after each sale. It will help at the end of the day when you need to know what extra stock to bring tomorrow or need to advance purchase. It will also help with what is selling well and what isn’t in future decision making.
Check your contact details and be clear and easy for people to see, photograph and get in touch so you can start selling online to friends and family of your customers who couldn’t attend the marketplace.
8. HAVE YOUR STALL SETUP READY BEFORE LEAVING YOUR HOME
Conclusion
You’re ready. Get going and get out there! Remember you are part of an ecosystem which you are part of.
Know the Marketplace rules before you leave home. It will save you time and energy, and make you a more successful trader when you arrive!
To recap, here are the eight steps to being successful on the day:
- Locate your marketplace owners website, contact details and enquire about rules.
- Know the theme of the marketplace
- Know the start time of the marketplace
- Know what you have provided and what you need to bring with you to setup.
- Be early and use your time wisely
- Respect your fellow trader
- If possible choose a location that highlights your stall
- Have your stall setup ready before leaving your home
Looking forward to shearing how you got on with your first day. Post over on Facebook. I love those first day stories.
Quick Quiz
- What is one rule that cannot be broken in the Marketplace?
- What are some reasons the delicate ecosystem of the marketplace can be upset?
- Give one use for accurate record keeping throughout the day.
