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3Oct/100

Starting A Flea Market Business Can Set You Free

Have you ever grown tired of working for someone else and thought about starting your own flea market business and working for yourself? Many people have, but give up because they think it is complicated or expensive.

Are you one of those who is about to give up making money on your own because you can't get your hands on the start up financing you need or because you do not have the skills or training to run your own business? Here is some good news: flea markets and swap meets may hold the answer for you.

There are many advantages to selling at flea markets and swap meets. The good news for those who are unable to leave their full time jobs is that you can keep your day job while you start up your business on the weekend. Flea markets and swap meets are mostly weekend events. Many vendors started small and put most or all of the profits back into their new business by purchasing additional merchandise and let it build to the point where they earn more than their full-time jobs during the week.

When your profits start getting big enough you can have fun telling your boss what he can do with that job. You have plenty of time to increase your earnings to a point that you can make it  before taking the plunge. You can continue to make full time income working only weekends, after you have freed yourself, or you can choose to continue working while supplementing your income over the weekend. It is more than possible to double your income.

There are only a few things you need to start your business as a flea market vendor. First and foremost the need for a flea market vendor is merchandise to sell. How much money do you have to buy flea market merchandise? If you can make a bit of investment, it is fantastic way to free yourself to becoming your own boss.

If you do not have the money, you can start by selling items you already have in your house or can get for free from the "free" ads around the internet or in your local newspaper. You can then use the proceeds from this to start buying merchandise from other sources for your business. As your profits grow, so will your inventory and you will find more and more resources along the way.

You need a place to store your merchandise during the week when you're not selling. Do you have a garage or shed? What about an unused space or a closet? How much space you need will be determined by what line of products you choose to sell and how much of it you need to keep stocked. Will you be able to store large items or do you need to pursue a line of smaller items? You may have a lot of space to store your items when you sell locally but if you decide to travel to the events you will need to be able to haul them.

You need a way to transport their goods. If you have limited space you would need to stock fewer items to begin with. Jewelry takes very little space. You may already have a trailer that will fit a lot of stock and will be suitable for the storage of goods for road travel. Consider your transportation before purchasing merchandise which will be a problem to get transport back and forth.

As your business and profit grows, you will be able to afford more accommodating transportation and storage of your merchandise. Most suppliers own large cargo vans and pull closed trailers. They not only have merchandise, but also  tables, racks, displays and etc.

Once you get to a flea market you need a place to show your wares. It can vary from a simple folding table and chairs to glass cases and racks. Just as with your merchandise, you can you start with what you already have available and work your way up . As your business grows, and you gain experience you will learn what types of products draw the best crowds and sales. Remember---you don't have to spend a lot of cash to start. Give yourself time to learn the ropes.

Apart from your merchandise, your only other expense will be space rental and a permit but they are quite reasonable. You must pay for your booth rental. How much you will pay will vary slightly from market to market. You can expect to spend a very low end of $ 5.00 a day up to $ 50.00 for a spot.

Many people work without a license but if you want to be in business you really should get a sate resale license (tax permission). Uncle Sam wants his cut, which is the sales tax on the items you are selling. When you sell something the state wants you to also collect sales tax from the customer and then send it to the them once every three months.

The price varies from state to state. It can be as little as $ 12.00 per year and they hand you the authorization within minutes after filling out the papers. Some states will e-mail authorization to you and it can take up to six weeks. Certain states require a refundable deposit but that it is the exception rather than the rule. To find out what your state requirements are you must contact the State Taxation Bureau/Department of Revenue.

Many flea markets do not require you to have your own tax ID and will allow you to sell using theirs and you give tax money to them at the end of each day and they send it to the State.

Starting and operating your own successful flea market business or swap meet enterprise is pretty cheap and not complicated but don't let the simplicity fool you into thinking there is no money in it. Many of the people you see selling their wares at flea markets and swap meets make more money than a lot of people working 40 hours a week.

So if you ever dreamed about setting yourself free it can happen with a flea market business.