One swallow doesn t make a summer!
There is a lot to consider - did you check the market out before starting? does the operator offer any startup incentive? have you checked out the competition? is your trading name limiting you on pricing? Although you are now trading, it isn t too late to check everything. particulaly competitors. Also check out if there is a niche you can fill - get your family and friends to help you with this and with checking the competition, and don t forget local shops when it comes to competition, How long have you been trading? Don t forget it takes time to build a business and a reputation. Lastly have you talked to your National Market Traders Ferderation rep? your operator should know who it is but, don t forget you may be standing on someones toes (i.e. a competitor)
People are looking for value for money rather than just cheap.Do a google search for wholesale to find wholesalers in your area.You need to sell things that people want (ask friends and family if they would buy x or y), don t just stock up on things that are cheap.��1 stores need a huge turnover to make a profit, so maybe go for a lower turnover but a higher profit per item?Another way to improve profit is by adding value - for example - You could sell a slice of bread for a few pence, a piece of cheese for a few more pence and a spoon full of pickle for a few more pennies.But, Combine the Bread, cheese and pickle into a sandwich, give it a fancy name and sell it for ��2
