Webinar 8

How To Sell At Markets

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• Movie Of The Month

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• support@youthinbusiness.com

Housekeeping

Example Of The Week

Kate• Creating her

own books• Officially a paid

author

Movie of the Month

The Pursuit of Happyness

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Heaton Family

Most Sales $20 Challenge

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$20 Challenge Video

Webinars

1. Welcome webinar – Run though resources and program

2. Refining your idea

3. Selling to people and getting paid

4. Understanding sales and numbers

5. Perfecting Your Pitch

6. Sell it before you build it

7. Goal Setting

What you’ve done so far

Webinar 8

How To Sell At Markets

Why Markets are great!!!

• Instant feedback about your business idea

• Perfect way to sell it before you build it

• You can pre sell items – and take custom

orders

• Helps you understand your

target market

Why Markets are great!!

• Gives you practice selling yourself

and your business

• Helps develop and practice your sales pitch

• This allows you to see how customers respond to what

you are selling

• Lets you know which item/s are going to be a hit.

Where to find them • Write down a list of the ones you

already know

• Then Google your

suburb/city/state with the word

‘market’

• You can also call councils, or

local groups like Rotary –

church fates or school

fundraisers

Here is a good reference

https://www.marketsandfairs.com.au/

What are the requirements? • Different markets have

different legal requirements

• They will also have set guidelines

• http://www.craftmarkets.com.au/general-

info/rules-and-regulations.aspx

• You May need public liability insurance - prices

vary but start from $40 upwards - Just google it

What are the requirements?

• If you are selling food products

• You may need a food licence

• Food licence – call council

• Each council is different

• Usually they will inspect your kitchen and

charge you a licence fee

What should I pay?

• Prices vary on the type of market

• Any where from free to a few hundred dollars

• Recommend for your first market to be as

cheap as possible

• Always try to negotiate a discount

Preparation

The Five P’s

1. Prior

2. Preparation

3. Prevents

4. Poor

5. Performance

Preparation• Be early – the early bird gets the worm

• Pre prepare everything

• do you need power?

• Ice or refrigerators

• Food heaters or cookers

• Get a great location

• Near entry or exit

• Or near the food or cafes

Preparation• Bring extra stock – if possible

• Bring drinks and snacks

• Consider weather conditions –

sunscreen or a jacket?

• Notepad and pen

(measure everything)

• Big Calculator

• Folding chairs

Displaying your merch • You don’t need to spend much

• Don’t waste resources - be resourceful

• Your stall should be

welcoming and inviting

• Sometimes less is more

• Make it eye catching and easy for customers to

see all of your products

Displaying Your Merch • Balance your displays out at height levels

• eye level,

• Above eye level

• And below eye level.

• Add some furniture or

props to show how the

product is used or worn

• Make it easy for customers to see and

understand your product

Displaying Your Merch

• If your product isn’t worn, think about creative

ways to show its uses e.g. demo.

• For night markets – have good lighting

• Have visible signage and labels

• Demonstrations can be a great

way to draw in a crowd & show

them your skills and quality of

the product.

Outstanding Case study • Be outstanding. Think about:

• Lighting

• Music/sound

Diane Keng - My Weboo – 2.0 Conference

Download Interview

Setting your Prices

• Usually you would have $5-$30 dollar price

range

• Most people are buying on impulse

• Vary your prices –

Go to multiple markets

and try different prices.

Test & measure.

Setting your Prices

• Display your prices so big that grandma

can see it without her glasses

• Most customers are too shy or reluctant to

start a conversation

• They would rather know the cost of an item

by glance than approach.

Displaying yourself

• First impressions last

• Smile and be nice

• Be approachable and

have a good attitude

• Customers can spread the word about your

business and help you gain more sales

Displaying yourself • Wear/use your products if you can

• Look for ways to be helpful

to your customers

• Customers like to feel special and are much

more likely to buy if they do.

• Be open to feedback – can be a great

opportunity to learn what customers want.

Acknowledge your Neighbours

• Be respectful of other peoples space

• Get your networking on

• Learn from the success of others

• Develop relationships that last

• See if you can find opportunity to mutually help

each other

• Be kind and see if you can offer some help –

they may just return the favour

Marketing your stall Before you get there

• Tell everyone you know – Get your pitch on!!!

• Create flyers and deliver them to houses near by

• Use social media

• Post on Facebook

• Take images and put them

on Instagram and Pinterest

• Email out to your list

Marketing the stallOnce you are set up

• Create flyers and hand them out on the street –

or the entrance to the markets

• Attach business cards or contact details to every

product sold

• Offer discounts to them

if they buy more

• Give thankyou gifts e.g. 20% next purchase

Marketing your stall • Have market specials

• Think about ways you can have unique offers to

new customers

• For example buy a product and receive

something complimentary or buy 2 get 3rd half

price.

• Make sure you are covering

your costs with your incentives.

• Do demonstrations and

taste tests e.g Olivia’s sugar free lemonade

Making the sale

• Don’t just sit there and expect customers to interact

with you – stand up and greet people-

• Greet people with an ice breaker – do you like hot

chocolate?

1. Ask a general question e.g. is this your first time at

the market?

2. Give compliment – I like your shirt, where did you

get it?

3. Ask specific question.

Making the sale

• Get ready to negotiate

• Know your prices

• Over come objections – be able to

answer their main 5-6 objections with ease.

Making the sale

• Have enough cash for a ‘float’

• E.g. Have a lot of small notes and coins to

change money

• Make sure you are giving out receipts

Multiple Payment Options

• Have an ‘Eftpos Available Here’ sign

• Square reader

• $19 For the swipe

• $59 For the tap

• Office Works

Capture Customer Details

• Keep good records

• Write every sale down include:

• What the customer bought

• What the time was

• Gender

• Age

• Any other interesting facts

Capture Customer Details

• Offer something for free in exchange for

customers details

• For example -

• You could give away

• How to videos

• Offer extra product

• Offer a discount

• Get creative – provide value

Importance of Following UpYou must Follow up!

• Make sure you remember to get your

customers details and put them on your

list.

• Follow up with customers after the market

to say ‘Hi’ and ‘Thank You’

• Get as much feed back as you can and

stay in contact with them regularly

Overview • Why markets are great

• Where to find them

• What are the rules

• What should I pay

• Preparation

• Displaying your merch

• Set your prices right

• Displaying your self

• Acknowledging neighbours

• Marketing your stall

• Making the sale

• Capture Customer details

• Importance of following up

Quick Win Challenges

• They are all designed around a business

concept to help you quickly learn

• Most of these challenges will include things where you

make quick money, others are longer term concepts

which will build a foundation for you to make more

money later on.

• Either way you will make money and learn business

concepts to build your business on.

Quick Win Challenge

October…

• The aim is to contact (in as many ways as you can) “famous people”

• They could be high profile business owners, media people,

celebrities, etc.

• To prove that you contacted them you must get a personal

response from them. For example, an email, letter, text or

FB message or recorded skype call

• You don’t have to ask them for anything, just let them know

“You’ve inspired me. I’m setting up my own business and

I’m only 12. Here’s what I’ve achieved so far.” sort of thing.

Grab the Attention of Someone Famous!

• The winner would need to be judged by us as “most impressive”, e.g.

most famous person, or most number of famous people who

responded, best response from a famous person, etc.

• This will help you to expand your network of people and could even

open some serious business opportunities for you

• Questions to consider

– How will you contact them?

– How will you get past their gatekeepers?

– What are some out of the box strategies you could use?

– How can you make your contact request outstanding?

Grab the Attention of Someone Famous!

Previous

Challenge Results

Contact Someone Famous- Results

• Kira

• Angela Fayth - second best

ballroom dancer in the

world

• Deligracy - Youtube

gamer with over half a

million subscribers

• Florentina Mumteanu -

famous painter

Contact Someone Famous- Results

• Evans Family

• Response from the white

house

• Kyle and Jackie O - Kiis 106.5

• Jason Pilgram – Entrepreneur

• Personalised Response from

Bindi Irwin

Contact Someone Famous- Results

• Sassy • Photo with the Mayor

• Photo with Chloe miller – Australian

youth paint horse champion

• Evelyn Bury – Golden Guitar winner

• Noel Cavanagh – Footy Legend

• Kyle Laybut – QLD Cowboys Rugby

Leage

• Radio Interview with Trace and Matt

from Hitz 939

• FB Message – Rheed McCracken

Challenge results • Smit Family

• Stephane Rice

Challenge results • Howitt Family

• Natalie Cook and Kerri Pottharst (2000

Olympics Beach Volleyball)

Challenge results

Josh and Pete

• Letter From The Prime Minster!!!

Cool Prizes Recap…

• Bragging rights and a place on the leader board

• Entrepreneur of the month Certificate

• Family Pass Movie tickets

• Go in the running to win the Kids Biz Cup!

Challenge Leader Board

Will It Be You???