How to create an outstanding market stall
You don’t always need a physical shop to run a successful small business. A market stall can serve as a platform to test the waters, market your products and establish your brand. Whether your plans include expanding or you simply enjoy the convenience and extra income a market stall provides, there’s some things you need to get right.
Understand your market
The market you choose to set up your stall may impact your sales, making it important to do thorough research. Before committing yourself, think about visiting the market to see what other stalls are operating, what products they’re offering and the potential customers you may attract.
Evaluate your competitors
It's important to understand who you're up against in the market. Maybe have a wander around other stalls offering similar products, evaluate what they're doing right and think about any areas where you could stand out.
Create your market stall
The visual appeal of a market stall can play a role in its success. A stall should be inviting, so think about how you can capture the attention of people walking by - clearly visible prices and signage, a distinctive theme and well-placed products all help draw in customers. So get creative!
Choose a theme
Having a clear and original theme can help customers instantly recognise your brand. Choose colours that complement your products and align with your brand to instantly grab attention. Make it clear what you’re selling because first impressions count.
Create eye-catching displays
When someone browses your market stall, a quick glance could be all it takes to decide if they stay or leave, so think about how to display your products. Consider placing your most attractive items at eye level and then arranging the rest at varying heights. Try bringing your market stall to life with fun props to further highlight your products.
Offer exclusive products, promotions and discounts
Offering exclusive ‘market day’ products, promotions or discounts can give you an edge over competitors, drawing more customers to your stall. Who doesn’t love a ‘today only’ special or bargain? However, be careful to maintain profitability and cater to a range of budgets.
Think about your pricing
Finding that pricing ‘sweet spot’ can be tricky. Too high and people will keep moving. Too low and you won’t make enough money to support your products and cover expenses. Check out the competition and go from there.
Promote your market stall
Do you have a market day special or promotion to help you stand out from the competition? An offer too good to miss? Use every tool at your disposal to market your stall and have people lined up to buy from you.
Consider letting your social media do a lot of the heavy lifting for you. Promote yourself and, if possible, cross promote with other stallholders. Some markets even have their own social media pages. Remember, lots of people at the market is good news for everyone!
Give exceptional customer service
While great customer service will always matter, there’s more to it than just being polite and helpful. Chat to your customers, make them feel welcome. And if they buy something, maybe pop in a discount offer for their next purchase or even a small freebie. Give them reason to remember the ‘lovely stall holder they met at the markets.’
Make sure you have everything you need on the day, including cash, eftpos or both. Have the stock you believe necessary, as well as business cards or flyers with your social media details to help keep you connected with your customers.
Have a chat
The markets are a great place to have conversations, so be approachable and willing to have a chat. Don’t be shy to talk about your products and ask for feedback. It’s a great way to sell your brand to customers who’ll then hopefully talk about you to others. Word-of-mouth is still a powerful marketing tool. Lots of people begin with a humble market stall, so soak up the vibe and make the most of the opportunity to chat with your customers.
Network with other market vendors
Networking with other stall holders can create a sense of community, provide valuable insights and might open the door for potential collaboration opportunities. By tagging other stall holders on social media, you’re instantly exposing your small business to a whole new bunch of people.
Don’t forget market stall insurance
Many market stall organisers require you to insure your stall in case things go wrong. Or you may be automatically covered by their Public Liability Insurance. Different markets will have different conditions of hire, so you need to be clear on this before setting up on site.
AAMI’s Market Stall Insurance may help protect you if your market stall, or the things you sell at a market or exhibit, injure someone or damages someone’s property.
Stop stallin’ and get your Market Stall Insurance sorted today!
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Insurance is issued by AAI Limited ABN 48 005 297 807 trading as AAMI Business Insurance. Exclusions and conditions apply, please see the policy.
The information is intended to be of general nature only. You should make your own enquiries and/or obtain independent advice. Subject to any rights you may have under any law (including the Australian Consumer Law), we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information.