Many people dream of starting their own business, but lack the capital or business knowledge to know where to begin but these people are overlooking a fundamental part of the country’s retail sector – market stalls. Relatively easy to start up and extremely cheap to run, markets have actually seen a growth in popularity over the last few years as people are looking for good quality goods without having to pay over the odds.
According to the Retail Markets Alliance, market stalls have consistently out-performed high street shops during Britain’s period of financial instability, making them a solid prospect for investment for those wishing to start their own business, particularly selling clothing and jewellery. From starting a market stall you can begin to acquire all the necessary knowledge and experience you will need to help your business grow and expand without having to worry about overheads like staff, electricity and other utility bills.
Our wholesale fashion jewellery is a perfect choice for people wishing to start their own market stall. Even though times are tough, people are still reluctant to give up buying their little luxuries which has been proven by the trend-bucking profits of the likes of Costa Coffee, Starbucks, Primark and Premier Inn. By offering a quality product at affordable prices, you too could soon see the benefits too!
Make sure that you do a little market research before taking the plunge, and pick a site that isn’t overly saturated with similar products. If you need a little extra start up capital, you will need to approach your bank with a solid business plan as well as a clear idea of projected profits and earnings.
You should also remember that by setting up as a limited company, you will benefit from tax breaks you wouldn’t by operating as a sole trader and you won’t leave yourself vulnerable to possible debts, meaning that your personal property is secured.