The business plan for flea market examines the market opportunity and potential economic returns of a group market space where goods are sold to consumers directly, often on select days only. Common in larger cities on the east coast, the flea market is an ages-old business model and can be a boon to vendors and consumers alike. The business plan needs to use careful estimates of booth fees and consumer spending activity to arrive at a solid working model. Also vital:
• What start-up costs will you face, as the organizer? This includes permits, build out, etc.
• How will you acquire vendors, and what products do you envision the market offering?
• Which advertising methods will make the most sense for you?
• What competition is there, locally and regionally, to your flea market idea?
If you have a target space in mind or there is a vacant lot already used for this purpose in the past, use that address as the basis of your demographic research and provide photos, layout information, and so forth. An investor or prospective lender through the SBA should believe that your location and vision will work as successfully as your financials show. If you need help building a compelling market analysis or financial pro forma, call MasterPlans today at 877-453-2011.
