fashion find it for you: to market to market to mazimise your cash.

Friday, February 17, 2012

to market to market to mazimise your cash.

Friday, February 17, 2012

So. Busy weekend ahead. Weekend activities will be primarily focused around my first market stall of 2012, at the Round She Goes fashion market on Sunday; with a quick stopover at the Maldon antique fair on Saturday. Woop (darling mother’s choice – not mine. Aren’t I a wonderful daughter? Not to say there isn’t some fab finds ready and waiting to be found at these types of markets – one day soon I will cheat on fashion with interior design. One day. When I grow up). Here are the deets for Sunday – come and say hi:

Hosting a successful market stall is certainly not as easy as one might think. You cannot simply chuck some stuff in a bag the night before and then head on down ready to rake in the millions – oh NO. It takes planning. Foresight. Strategy. Retail business savviness. Here are my top ten MUST DO market preparation steps to ensure your day is a money making cash bonanza:

1. Have a fab assortment on offer. The customer’s love a wide breadth and depth of range – so be RUTHLESS with your clothing selection. Haven’t worn it in six months? Gone. Still go the tags attached two months later? Done. This ruthlessness creates much needed free space in your wardrobe for all the new fab items you are going to purchase with the money you made at the market. Loving the ‘circle of clothing life’.

2. Have a bargain bin. This was a new strategy I adopted at my last market – I filled a wicker washing basket with items that may have been destined for vinnies; slapped a EVERYTHING $1 sign on it and literally had people sitting on the ground and burrowing like a beaver on steroids. May only make up a few extra bucks – but it is certainly a great way to move through dead stock. ADDED BONUS – creates customer interest. If it appears like there is a lot happening at your stall – customers gravitate to you like a magnet.

3. Take a mirror. VERY IMPORTANT – as everyone wants to try something on; but not everyone is a fan of stripping half naked in communal change rooms. Even if they pop it on over their clothes – as soon as the item touches their body the deal is done. And with you complementing them how could they refuse? ADDED BONUS – customers from other stalls also want to come and use your mirror – which not only creates traffic flow around your store, but also gives you a chance to upsell one of your items to that customer. Fab.

4. Have a change float. SOOOO annoying when you are at a market with no easy access to cash and you have found the Zimmermann ladder printed top of your dreams for $8 and the stall holder busts your bubble with those five horrible little words ‘I don’t have enough change’. What do you mean you can’t change my greenback? It may seem ridiculous; but the reality is that some people do head on in with wads of hundreds that they expect you to change. Annoying as it is – if you are prepared you don’t need to A. turn a paying customer away; B. scam off the stallholder next to you for change. Set.

5. Offer a plastic bag with each purchase. May seem small – but it is sometimes the little things that count. Tip – they don’t have to be fancy; supermarket plastics work just as well. Save them up from your weekly supermarket trips, or raids your grandma’s ‘plastic bag bag’ – guaranteed they all have one.

6. Do some VM-ing. There are around 100 stalls at the market – and to maximise your cash flow potential you need a stall that stands out from the rest. It doesn’t mean lugging in a dais with mannequins, installing raw wood shelving racks or taping up a pre-prepared backdrop; it can be small little touches which get you over the line. I use a vintage cowhide rug underfoot, a tiger-print Urban Outfitters bedspread turned tablecloth, outfitted front facings on my rack and of course Suzanne (my sewing dummy) comes along as the perfect outfit displayerer. I change her up every hour or so – and guaranteed her outfits are usually the first to sell.

7. Dress appropriately. This is not the Camberwell market, you haven’t been up since 3am and crawled out from under the doona. So no – ugg boots and track pants are not going to cut the mustard. MANTRA: you are what you sell – so dress like it. Selling reworked vintage dresses? Rock one out with coiffed hair, patterned tights and red lips. Selling your pre-loved designer fashion? Channel off-duty relaxed glam model style. As horrible as it may sound – your outfit sets the precedent for your stall. Plan ahead.

8. Last of all – SMILE! I think this is by far the most important step. For the five hours the market is open – you should be the most chatty, helpful, friendly and bubbly sales assistant you have ever met. Even if you fall in a heap at the end of the day, it is totally worth it. Customers just LOVE someone to talk to – especially if they are shopping alone. Be honest with your opinions, suggestive sell, outfit them, bargain up politely, crack jokes and say hello, goodbye, thank you and have a great day.

So I know that is only 8 things – but they are a VERY IMPORTANT 8 things. Follow them and your stall it guaranteed to go off.

Here are some snaps of past stall – ready and raring to go.