When Aaron LaPedis was 7 years old, his mother left him to take care of the family’s flea market while she was having lunch.
When he saw that the sale was going well – and as a keen young entrepreneur he was – he grabbed side tables, lamps and everything else he could carry out of the living room and put those items up for sale as well.
A day later, his mother noticed that half of her living room was missing. However, she must not have bothered for too long, because soon the flea market for LaPedis would become a profitable company.
At 25 he had made $ 1 million flip items he’d bought at flea markets. He also wrote a book entitled “The millionaire in the flea market. ”
We can’t promise you millions, but we can offer these 11 flea market tips from LaPedis and others who have made serious money with their old things.
How to organize a successful flea market
Would you like to make the most of your next flea market? Here’s what you need to know with advice from LaPedis and other seasoned sellers.
1. Hold a themed sale
He collected graphic novels, computer equipment and other geeky items and marketed his sale on the subject, earning about $ 2,000 in the first two days. On the third day, he found that he mostly had books left, so he changed the subject to “book sales” and earned $ 400 more.
Find out what you want to sell and find out which topic is most suitable. Consider topics such as sports, garden tools, outdoor equipment or technology.
2. Plan it properly
Weekend mornings are the traditional time for flea markets. So consider another time to have less competition.
A quarter may have dozens of flea markets on Saturday morning, but how many do you have on a Tuesday morning?
Scheduling an early morning or late afternoon sale can help attract commuters, parents who take their kids to school, and others who want to make a deal.
Or plan your sale in conjunction with a local event that brings people to the neighborhood. If people are already relaxing and enjoying an event, they probably wouldn’t mind rummaging around (and hopefully buying).
3. Team up with your neighbors
Work with your neighbors to see if they’re planning an upcoming flea market and consider whether you want to band together. The bigger your sale, the more tempting it is for potential customers.
An additional benefit of targeting a neighborhood sale is to pool your networks and resources to reach a wider audience.
Don’t just throw some items outside and call it a flea market – spread this out beforehand.
Place flyers near you and use online ads to let people know about your sale. Use Craigslist or local messaging boards. Special forums are also aimed at those who are specifically looking for flea markets, including GarageSaleHunter.com and Yard sale search.
Also make sure you use social media, including Flea market groups on Facebook. If your other Facebook groups allow this type of advertising, share your flea market details and let people know what you have and when to drop by.
In your promotion, list the special and big ticket items that help attract people. Post pictures of furniture, antiques, entertainment centers, and other particularly appealing items.
5. Set up 15 to 20 signs
According to LaPedis, the biggest mistake is not having enough signage to attract customers.
Place lots of large, colorful signs, at least 3 feet square. LaPedis recommends 15 to 20 signs per sale.
Simple signs work best because it is difficult to read a lot of text when you drive at 30 miles an hour. A simple arrow pointing the way along with the word “SALE” should be fine. In addition, simple characters are reusable because they contain no specific data or details.
6. Be prepared
When preparing your sale, think about what people need or want.
Do you have a lot of accessories for sale? Have a mirror ready so people can see what they look like when trying them on.
Sell electronics or small devices? Have batteries or an extension cord ready so they can see how it works.
Have lots of small notes and coins ready so you can quickly make changes for customers. Bring more than you think necessary and save your money during the sale.
7. Make it look like a business
People quickly leave disheveled shops, often without buying anything. Do not recreate this problem at your flea market.
Make everything look nice and neat. Borrow or rent tables so shoppers don’t have to bend or crouch to inspect items on the floor.
Also group similar items: kitchenware in one area, men’s clothing in one place, children’s clothing in another. In this way, employees can efficiently evaluate what you offer.
Presentation is everything. For example, hang clothes on a rack to make them stand out more than on a stack on a table.
Place large, bright, and colorful objects near the street to attract people. Clean up all day.
8. Price it right and offer offers
A good rule of thumb for the flea market is to sell items at 10 to 25% of their original value.
Most people don’t want to spend a lot. So try not to pay prices over $ 100. Online sale of big ticket items is often more effective.
Or don’t rate it at all. LaPedis recommends not putting price tags on items under $ 15 and instead speaking to people to see how much they’re willing to pay. (Conversation can attract people. This way you can meet new neighbors and hopefully get a better price.)
Towards the end of your sale, you should put a “half off” sign and make even better deals to move more items.
Another useful technique is to bundle similar items like books or DVDs. “Five DVDs for $ 5” will grab a buyer’s attention. If you really want to move items until the end of the sale, have a few paper bags ready and ask people to fill a bag for $ 5 or $ 10 with what they want.
9. Make yourself comfortable
You’ll be in the sun for hours to prepare, host, and then pick everything up. So make yourself comfortable. Wear comfortable clothes, shoes, a hat and sunscreen.
Remember how the sun moves all day and what times you may be in the sun. Have water or other drinks ready.
10. Make a party out of it
Supermarkets play music for one reason: they tempt you to stay longer and spend more. Turn up the melodies, give out cookies and lemonade and make people feel welcome.
Also, remember to keep a cooler with ice-cold water, soda, and tea on sale – or Encourage children to get entrepreneurial and hold drinks sales within the flea market.
11. Be sure
While most flea market buyers are good and honest people, you shouldn’t allow potentially bad apples to cause problems.
Do not let anyone into your home to go to the bathroom and lock your doors while you are doing the sales.
Protect your money. It’s best to keep large bills in your pocket, but consider an apron for small change. Cash boxes can also work, but you need to be careful to always keep an eye on them.
Sometimes people work in groups to cause distraction and to grab cash or goods. Make sure you have backup help so you can go to the bathroom or get out for a minute if necessary.
Kristen Pope is a contributor to The Penny Hoarder.
This article originally appeared on www.thepennyhoarder.com