Why Running A Market Stall Can Be Good For Startups

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When you are in the midst of launching a new startup business, one thing plays on your mind. I am, of course, talking about expenses! It’s no surprise that you need money to open up a new business. Even “bedroom businesses” need some capital to pay for expenses.

Some start ups feel they have no choice but to open a retail store. As you can imagine, it can be quite expensive to do so. First of all, you must commit to a lease of at least one year or more. Plus, you have to pay for costs like electricity and heating, insurance and so forth.

Pretty soon, the list of store-related expenses can spiral out of control. Especially if you’re not 100% confident of making a profit in your first year of trading. One interesting way around that problem is not to bother with a conventional store. Instead, it could make sense to open up a market stall!

That might sound like a surprising suggestion to make. But, it’s one that more people are carrying out – and with great success. Are you in two minds about opening a retail store? If so, you should consider opening a market stall instead! Let me share with you some practical reasons why it’s not such a far-fetched idea:

You save lots of money

The most important fact about launching a startup on a market stall is the cost saving. You can expect to make savings of up to 90%, believe it or not! Sure, a market stall might not seem as glamorous as opening a boutique retail outlet. But, you can still make your corner of the market look enticing and attractive!

When you launch a startup business, it’s crucial you keep costs down as much as possible. The last thing you want to do is kill your cash flow and end up going bust!

You can better serve your customers

The thing about retail stores is that it’s easy for customers to get “lost” inside of it. You might not want to talk to them for fear of being “that” annoying sales person! But, the atmosphere of a market is different. It’s a people-oriented way of trading.

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You get to meet and greet all your customers, even if they only want to browse. It’s a real way of learning about the types of people that have an interest in your brand. Plus, you won’t feel like you’re annoying them by asking how you can help.

Another benefit of such a setup is that you can forge relationships with your customers. Believe it or not, you’re more likely to have repeat customers at market stalls than at retail stores!

You can take advantage of technology

Just because you have a market stall doesn’t mean you have to stay in the dark ages! These days, many stall holders accept debit and credit card payments. They use systems like AccuPOS to achieve such goals. Especially when customers are likely to ask for “proper” receipts when buying goods.

Some market stall holders even have e-commerce sites. The savvier stall holders also allow people to collect orders from the stall but pay for them online. It’s a fast-track way of getting the things they want and still support a local business.

There is less likelihood of items getting returned

When you run a retail store, there’s a real chance that some purchases might get returned. Some returns might be because customers have changed their minds. Others could be down to faulty products.

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The beauty of market stalls is they allow consumers to try items out before they buy them. That way, they can get assured of quality. Plus, they can verify the products fully meet their needs before purchase. Quite often, market stall holders will have demonstrator products on display.

You can take advantage of seasonal trade

Let’s say that you run a business selling Christmas trees. As you can imagine, people will only want to buy them in December. There’s no point having a retail store that’s going to be empty for eleven months of the year!

Market stalls are great for seasonal selling. The rest of your year can get spent growing trees and working on other projects. And when it comes to December, you’ll enjoy a roaring trade!

There’s also the spirit and atmosphere of markets that makes it a great place to sell items. Retail stores can sometimes feel disconnected from the outside world. Market stalls allow sellers a real chance to connect with buyers and have a fun time selling products.

As you can see from the points above, market stalls offer many benefits over retail stores. Good luck with your venture!