Is it profitable to open a point on the market and how to do it

Starting your own business, even a small one, is a promising decision that can not only give you the opportunity to earn money, but also lead to the creation of a larger business. Point to market represents one of the most accessible ways to enter the world of entrepreneurship. But in order to succeed in this niche, you need to take into account many nuances, which we will try to analyze in this article.

Is it profitable to open a point in the market?

There is no single answer to this question that would be suitable for all cases. Such a business is really capable of generating good income, but only with a competent approach to its organization.

The time of the 1990s and even 2000s when markets were the main source of interesting goods is long gone. Now a significant part of their clientele was taken away by shopping centers and hypermarkets. But many still go to the markets, because here you can buy products at lower prices, as well as find something unusual that is not found in the same type of chain stores from shopping centers.

To make a point in the market profitable, it is necessary to take into account a number of factors:

• Her location. The profitability of market points from the center to the "back streets" is reduced almost exponentially.
• A competent choice of goods, taking into account possible competition and seasonality. Almost any product will enjoy different popularity on the market at different times of the year, so you need to think over an additional assortment for the “sluggish” months.
• Product pricing. Entrepreneurs usually have to set the smallest price for expensive clothes and food, and the highest price for inexpensive wardrobe items, small things like batteries and the like. At the same time, some entrepreneurs prefer to earn thanks to a large turnover, others - thanks to a high margin.
• Your activity, discipline and self-control. In order for the trade to go well, you must regularly update the assortment, keep abreast of the latest fashion news, and also effectively control yourself. In fact, there will be no boss over you, and it will be very easy to succumb to laziness.

What to trade in the market

• Choose what you like (within reason). In such a product, you will surely be better oriented, you will be able to present it more advantageously, and in case of “freezing” of some products, you will be happy to keep them for yourself.
• Consider the competition. You should not open a point of sale of goods that are already lacking in your chosen market. This will not bring you the desired profit, and will also cause tense relations with the "neighbors". However, the dissatisfaction of other entrepreneurs should not worry you too much, because you do not come into business to make friends.
• Analyze the potential demand for the selected products. For example, in a market in a relatively new microdistrict, where mostly young families live, you should not start a business selling fishing accessories. At the same time, children's goods in such a place will be in high demand.
• Estimate the dimensions of your future assortment. If it is supposed to trade not in a roller shutter, but in a tent, then you will need to store your goods in a container at night, or take them away by car. Storing bulky items can cost you extra money, thereby reducing your profit margin.
• Think over the way of presentation of goods and manner of sales. Even the most high-quality and useful product can gather dust on the counter for months if it is not presented effectively enough. It is clear that there are not so many opportunities for this on the market as in a shopping center, but it is up to you to arrange the products beautifully and hire a good seller (or become one yourself).

How to Find a Market Goods Supplier

Another important point when choosing an assortment that should be considered separately is the search for a supplier. You should buy products where your potential customers cannot buy them: only in this case, selling them at a premium will be appropriate. You can search for suppliers in different ways:

• Using search engines Google or Yandex. However, keep in mind that most wholesale suppliers do not spend a lot of money on promotion on the Internet, and therefore their offers will not be on the first page of search results. Be sure to call several companies before making a choice.
• At industry conferences, exhibitions and fairs. Such events are held in many cities. Suppliers use them to showcase their products and find new partners.
• On the pages of specialized newspapers and magazines. Sometimes in these sources you can find offers that are not even on the Internet.
• Going to the trick when communicating with future competitors. If you liked the product of some other entrepreneur, then you can pretend to be a picky buyer and ask where he gets his products.
• Learn more about your city. It is possible that a little-known dealer of any product, or even a small business that can supply you with goods, operates in your locality. Or perhaps there is such a supplier in a neighboring city.

What markup to make on the goods

Before determining the margin, you must calculate the real cost of the goods. It includes not only the amount that you paid the supplier directly, but your travel expenses (if the supplier does not work in your city), the cost of renting a place in the market, taxes, etc. The resulting number is also called the "threshold price" - this is the cost of the goods at which you will not suffer losses, that is, you will work to zero.

The size of the margin can be different: from 15-25% for large items to 100-200% for small or inexpensive items. The specific cost of products must be set, focusing on the average financial capabilities of local residents, as well as on the offers of competitors. Do not demand too much from buyers, as well as seriously reduce the price in an effort to increase sales.

If the demand for your product is elastic, that is, it increases with a decrease in price, then the margin should include the possibility of a discount. Some entrepreneurs deliberately set higher prices in order to subsequently throw off a few hundred rubles: the seller feels good, and the client is satisfied that he “knocked out” the discount.

How to choose a place for a future point in the market

Theoretically, your place in the market should be located:

• in the most accessible place;
• at the point with the greatest distance from competitors;
• in a place close to which all the amenities you need are located (a place for storing goods, a toilet, a fitting room, a cafe, etc.)

Naturally, in real life, it is unlikely that you will be able to get an ideal place, but you can try to choose the point that will be closest to it. If we are talking about a tent market, then it will not be superfluous to make friends with its administrator (perhaps even give him some kind of gift), so that he will give you exactly the place that you would like to take. In any case, it's definitely not worth quarreling with the administrator.

How to open an IP

In general, the process of registration of IP is reduced to the following sequence of steps:

• Choose the registration method: at the local tax office or via the Internet. For the second option, you will need to purchase an electronic digital signature.
• Competently fill in all the columns of the application form P21001.
• Pay the state fee (manually or online). In 2017, it is 800 rubles.
• Select the desired taxation system. Novice entrepreneurs usually prefer the simplified system (STS). A notification of the transition to the simplified tax system can be submitted along with an application for registration of an individual entrepreneur.
• Provide the tax office with an application, a copy of an identity document, a receipt for the transfer of state duty and 2-3 copies of the notification of the transition to the simplified tax system.

Thus, opening a profitable point in the market is a very real task, if you approach things wisely and carefully evaluate all the available nuances. Use the tips above to get down to business and make your small business profitable. Perhaps it will be your first step on the path to successful entrepreneurship and big profits.

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Publication date: 01.12.2016

Full name in Russian:

Limited Liability Company "Insales Rus"

Abbreviated name in Russian:

Insales Rus LLC

Name in English:

InSales Rus Limited Liability Company (InSales Rus LLC)

Legal address:

125319, Moscow, st. Academician Ilyushin, 4, building 1, office 11

Mailing address:

107078, Moscow, st. Novoryazanskaya, 18, building 11-12, BC "Stendhal"

TIN: 7714843760 KPP: 771401001

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