Organize your Operations
While in the early days of your business selling as much as you can during each flea market day may be enough, you need to become organized and strategic about your operations in order to grow your business to its full potential.
- Keep track of accounts and customer records: A simple notebook to write down your sales may be enough at first, but it is much easier to keep track of sales and inventory with proper software such as Intuit or Quicken, as well as CRM’s (Customer Relationship Management) softwares. A CRM would allow you to collect your customers’ data (such as email address, phone number or even home address) so you can then market to them outside of flea market opening times.
- Keep inventory records: Make sure you know how much you bought of something, how fast you sold it and what your profitability was. This will allow you to make faster and more educated purchasing decisions down the line, and you’ll be able to pull up sales information for an item quickly and easily.
- Take advantage of technology and tools: If you only accept cash or check payments, consider accepting credit card payments. This will make it easier to close sales with customers who may not be carrying enough money in cash. Consider obtaining a merchant service account with your bank, and take advantage of Smartphone applications for Credit Card processing. iPhones and other Android based phones now have the ability to charge and process credit card payments on the spot without the need for a credit card machine.