Navigating the Market Scene: Choosing the Right Events for Your Business
In the vibrant world of market trading, the possibilities are endless and the opportunities to showcase your unique offerings are abundant.
But is finding the right Market or Event even more difficult?
As a community of small businesses, artists, crafters and food producers, we understand the importance of choosing the right events for your business. Not every market or event may align with your goals and it’s crucial to navigate this diverse landscape with care.
Here are some key considerations to keep in mind as you explore potential trading opportunities.
Define Your Goals
Before diving into any event, take a moment to define your business goals. Are you looking to reach a specific target audience, boost sales, or increase brand visibility? Knowing your objectives will guide you in selecting events that align with your vision.
Research and Evaluate:
Not all Markets are the same, and that goes for once off events too.
I would not tend to recommend one market or event over another for a few reasons, firstly what’s good for me, may not be good for you. I have heard it many times before – that show was not for me, I didn’t make anything, when for another trader could have a great day, you usually hear the bad and not the good. Trust your gut.
I would always try to visit a market first, get a feel for the market. I ask myself,
- What type of customers are there?
- How many potential customers are usually here?
- What type of facilities are there?
- What type of goods are there on offer?
- Would I be able to add value to the market?,
For once off or annual events this can be a bit more tricky.
If you are not able to trade this year but may love to in the future, make it your business to be at the event this time and maybe you can apply next time.
If you can’t attend or you would like to trade this year take a look into the event’s history, attendance records and the type of audience it attracts. This can be a really valuable asset know if your product is right for they type of customers attending the Market or Event.
What type of customers attend? - Understand Your Audience:
Know your target audience and understand their preferences. Choose events that cater to the demographic most likely to appreciate and engage with your products or services. This will significantly increase the chances of a successful trading experience.
If you sell goods that appeal to children then best to look for family events or family markets, ones that encourage families. If you sell mostly for tourists it’s best to keep to the city’s markets or those close to tourist hotspots. Alternatively ask the market if they usually get tourists at their market. If selling food make sure you cater to the markets or events customer base i.e. family events will have lots of children who may not have the same palette as adults. Size options is also important to bear in mind, especially given current concerns around food waste.
Participating in events often involves financial investments. Be mindful of your budget and choose events that offer good value for your money. Factor in stand fees, travel expenses and any additional costs associated with the event. If you buy product for resale do you have enough to cover your costs, or If you make your product can you even make enough to cover your costs. If not ask if you can share a space with another trader to share the stand fees (make sure you ask the market/event organiser first as some do not allow this).
Network and Seek Recommendations:
As mentioned above I would not tend to recommend one market or event over another. However we would love to hear how the markets are doing and if some are struggling maybe we can help with ideas . Let us know how your market or events are going. It is easy to let people know when its not going so good so don’t forget to tell us about the good markets or events you have attended.
Trust Your Instincts:
Ultimately, trust your instincts. If something doesn’t feel right or align with your business values, it’s okay to pass on an opportunity. Your intuition is a powerful guide in making decisions that benefit your business in the long run. Lets Chat – might be the thing you need to make a decision.
Remember, as a community, we’re here to support each other. If you ever have questions or concerns about specific events, feel free to reach out to us for advice.
By approaching market and events with careful consideration and a strategic mindset, you’ll be better equipped to make choices that contribute to the growth and success of your business.
Here’s to thriving in the world of market trading!
Grainne & Greg