0816_TOEFL-Test-and-Score-Manual-1997

136 ● 201 Great Ideas for Your Small Business
country. In addition, thousands of flea markets and other ventures sell
everything from vintage or “junk” jewelry to jam.
Opening your business in an established market setting has tremendous
advantages. The rent and utilities are usually more affordable than
stand-alone retail space. Plus, the landlord takes on part of the responsibility
for attracting customers through signage and advertising.
You can also find safety and encouragement in numbers. You won’t feel
so alone when you can wander next door and visit with your neighboring
merchant, listen to live music, or munch on fresh-baked pastries.
Before you run out and rent space in a market, here are some tips:
• Go shopping. Visit all the markets in your area. Some are open every
day; others open only on the weekends or every few weeks. For instance,
the Norwich Crafts Markets and Winter Markets in Vermont are
open once a month. There are weekly farmers’ markets in Norwich,
Woodstock, at Dartmouth College, and several towns in our area.
• Make sure your merchandise fits the clientele.
• Check out the competition. Make sure your product or service fills a
need in that particular market. You don’t want to be the fourth bakery
in a market.
• Speak with the other vendors. Ask them how the landlord treats them
and whether he or she keeps promises made to tenants.
• Check out the appearance and maintenance. Are the public areas and
restrooms kept clean? Is there adequate, accessible parking for customers?
Are there security guards? Will you have any storage space or will
you be loading merchandise in and out every time?
• Review all advertising materials or brochures. Be clear about their marketing
efforts and whether you can do your own advertising.
• Find out how you will be charged for your space. Some open-air markets
charge by the running foot; others charge by the square foot.
Make sure you understand exactly what you are paying for, including
utilities.
• Ask about insurance. Will you need to buy liability insurance? Will you
be paying a percentage of sales to the management?
• Spend some time in the market to get a feel for the ambience. You will be
spending many days in the market, so be sure it feels right.