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Only at a farmer’s market can you wander from a booth of locally grown fruits to another of hand-crafted wooden trinkets. Farmer’s markets aren’t just for selling locally-sourced fruits and veggies anymore – many farmer’s markets are now offering hand-made jewelry, flower arrangements, live music and a variety of unconventional products.
Because of their increasing popularity as well as the variety of products sold, farmer’s markets are actually one of the best platforms for entrepreneurs to kick-start a successful business. Here’s how you can use a farmer’s market to build your own business.
Do you have any hobbies that you know you could turn into selling products? If you love knitting, crocheting or painting in your free time, you can turn it into a business. If you can make locally-sourced food products such as honey or jelly, that could work, too. It might help to visit a few farmer’s markets and see what they’re selling. Then you can decide what sells the best and how you can take advantage of this demand with your own skills and resources.
Once you know what you’ll be selling, the next step is to rent out a space. Many farmer’s markets across the country have different rules and regulations in place, so make sure you read up on your particular region. One market may require you to rent out a space for six months, while another will have you pay weekly. The waiting time for a spot may be long as well, depending on the popularity of the market. To obtain a tent and find out how much it costs, research markets in your area and find one in your budget. The LA Times has an interactive map of Southern California markets you can search by zip code or name, but Google is also a great place to start.
Once you have a space to call your own, you have to start early. Really early. If the farmer’s market opens at nine in the morning, you have to be ready to be there hours in advance to set up your products or cook the food to be ready in time. You also have to make sure that you have a sturdy display table, bags, trash cans and a tent cover if it’s sunny. Some markets have a first-come first-serve basis for picking a prime spot to set up shop, so you may have to arrive even earlier to beat the competition.
As with any business, spreading the word about your products is the most important step to success. If your customers like your product, they will tell their friends. Traffic to your tent or booth will increase and your products will be selling like hotcakes in no time. Although any business venture is risky, if you are willing to promote your products on social media or by word-of-mouth, you will likely gain a following of customers who love what you’re selling and will come back every week for more.
The most important part of a farmer’s market (besides tasting all the delicious fruit) is the face-to-face interactions with customers. If customers likes your product, they’ll come back next week, allowing you to talk to them and see how they liked your product. You can also set up feedback cards if your booth is busy and you can’t talk to everyone. In addition, you’ll be able to tell what customers are liking based on what’s consistently selling and what’s not. Receiving feedback is essential, and if you don’t have enough money to start a focus group, farmer’s markets are a great way to get feedback on your business.
Sellers have reported making $40,000 to $75,000 a year from their farmer’s market booth, but many make much less. If your booth churns out enough money, Wal-Mart and other brands may want to sell your product. Those lucky enough to leave farmer’s markets to venture into their own business, like Jennifer Carson and her organic baby food company Baby Gourmet Foods Inc., can take it across the country. While many companies jump at the chance to expand commercially, others may not wish to leave the market.
Either way, farmer’s markets are great for spreading the word about locally-sourced products, and help tremendously in growing business ventures around the world.
