Setting up Market stall

Onestepbehind_2

Hi I'm new here, although I've picked up loads of tips reading this site :beer:

I want to set up market stall selling goods imported from south east Asia, such as clothing, textiles, bags etc
I'm new to business, I can't find a job with hours to suit family!
I hope to import products from Laos/ Thailand
I intend to go there to find suitable products ( good excuse for holiday!)
But it's got to pay ......
and a friend is living in Laos to help with ongoing shipping etc.

Am I bonkers?! :eek:
Anyone have experience of similar?

I'm not looking to make my fortune, just earn enough to get by, I intend to have 2 markets a week, one in my small town, one in Manchester
Thanks in advance for any advice

Wywth

Onestepbehind wrote: »

Hi I'm new here, although I've picked up loads of tips reading this site :beer:

I want to set up market stall selling goods imported from south east Asia, such as clothing, textiles, bags etc
I'm new to business, I can't find a job with hours to suit family!
I hope to import products from Laos/ Thailand
I intend to go there to find suitable products ( good excuse for holiday!)
But it's got to pay ......
and a friend is living in Laos to help with ongoing shipping etc.

Am I bonkers?! :eek:
Anyone have experience of similar?

I'm not looking to make my fortune, just earn enough to get by, I intend to have 2 markets a week, one in my small town, one in Manchester
Thanks in advance for any advice

Are you sure you could shift enough stock in just 2 days (presumably limited hours at that as you suggest you only want to work hours to suit) to make enough money to keep you happy, not to mention paying your 'friend'.

Btw, there is an old addage that says don't mix business with pleasure

Mistral001

Are they going to be branded items? If the are then perhaps you need to do some reseach on the risks of buying conterfeit goods.

Apart from that it seems a great idea.

martindow

Do some research into the likely costs of carriage and clearing customs. Items that cost pence over there can end up costing pounds by the time you have got them here and marked them up for your stall.

I'd also check out UK wholesalers' prices. They import in quantity to minimise overheads - you might find it hard to match them.

jenzen

I have got to earn equivalent to a part time wage, to top us up. I hope two days would be enough or it would not be worth it, I'll do some more market research....
Also would look at ebay/amazon/website eventually, I've chosen market as I'm hands on and find ebay so tedious!
I'm planning to do 'hippy'style goods, kids clothes, carvings, Buddha summer clothes, winter jumpers etc, so no 'labels'
As you say a very dodgy area!
Thanks for advice and martindow I will check out uk wholesales, a lot less hassle and expense, if I can find right stuff.
Does anyone have any direction on import taxes?
Cheers

jenzen

I should say, I am also onestepbehind
Log in trouble
That's why I'm going for hands on approach lol

paddyrg

I'd suggest going for specific top-end artisan items as you'll saturate your local market for cheap bulk pretty sharpish. How about concentrating on finding local craftspeople who can make some high-ticket unique top quality art?

Remember 'shipping' can also require bonded warehouses and onward local trucking etc if you're not careful about how you ship and if you don't have an agent ready to do it for you you can get hit with storage fees. Sea freight can be much cheaper than airfreight, but it is much slower. You will need insurance and pay duty and VAT on imports. Remember the cost of local storage too.

paulwf

The best thing to do would be a trial so you have something concrete to base your financial projections on. Hopefully with a market stall you will have low overheads and can do a one off. I'd suggest sourcing something in the UK similar to what you intend to sell and do a couple of markets. Don't worry about making a profit, just try and sell it and see what the response is.

A couple of things I think that need addressing:

- craft stuff might be good for a one off market but can you get sustainable repeat business? There's only so many buddha carvings a person can buy!

- outdoor markets are very dependent on the weather and actually high winds are more of an issue than rain as wind makes it dangerous to put a stall up. Granted the weather has been extreme this year but it still needs noting that my local market has had a terrible time of it this year with cancellations and wash outs. It won't be a stable income.

gayleanne

It is the shipping fees and the customs clearance that cost a fortune, I bought some furniture in India, hand made to our design, it was really cheap, for what it was. That is until it came to customs clearance, I had a bed, 2 side tables, a dressing table, to have these made and shipped cost £1,200 then when they arrived in Tilbury I had to pay import duties of £900.00 alright the furniture was worth it, but they don't go by how much it cost when u bought it they go by size.

simplydevine05

If you are going to fill a market stall then you need to import a lot and it will not be cheap. I used to import from America many years ago and because I wasn't buying much I didn't have an agent. Instead Royal Mail did it for me and I paid them something like a £50 fee plus customs charges. It got to the point that it wasn't worth it. Have you done any research to check that what you are buying will sell and you need to know that you can shift it quickly or you will have thousands tied up in stock. You need to consider insurance against things like theft or fire and you may need public liability insurance (some places provide it for you some don't).
On one hand I think it's a great idea and good for you that you're not sitting around complaining about money but you want to do something. On the other I would err on the side of caution as a market stall will have a big outlay upfront and you may not get the customers you think you will get. If you're going into import and selling ebay is the best place to test the waters without spending a fortune, but if you hate it then you will get bored and give up. Bear in mind as well the impact on any benefits you may currently receive and don't forget to tell hmrc. I wish you the best of luck with whatever you do!

custardy

simplydevine05 wrote: »

If you are going to fill a market stall then you need to import a lot and it will not be cheap. I used to import from America many years ago and because I wasn't buying much I didn't have an agent. Instead Royal Mail did it for me and I paid them something like a £50 fee plus customs charges. It got to the point that it wasn't worth it. Have you done any research to check that what you are buying will sell and you need to know that you can shift it quickly or you will have thousands tied up in stock. You need to consider insurance against things like theft or fire and you may need public liability insurance (some places provide it for you some don't).
On one hand I think it's a great idea and good for you that you're not sitting around complaining about money but you want to do something. On the other I would err on the side of caution as a market stall will have a big outlay upfront and you may not get the customers you think you will get. If you're going into import and selling ebay is the best place to test the waters without spending a fortune, but if you hate it then you will get bored and give up. Bear in mind as well the impact on any benefits you may currently receive and don't forget to tell hmrc. I wish you the best of luck with whatever you do!

£50 fee? not with RM
£8 flat rate,o around £16 max for Parcelforce

gayleanne wrote: »

It is the shipping fees and the customs clearance that cost a fortune, I bought some furniture in India, hand made to our design, it was really cheap, for what it was. That is until it came to customs clearance, I had a bed, 2 side tables, a dressing table, to have these made and shipped cost £1,200 then when they arrived in Tilbury I had to pay import duties of £900.00 alright the furniture was worth it, but they don't go by how much it cost when u bought it they go by size.

What duty is charged by size?