SET OUT YOUR STALL How to Make the Most of Market Trading Chris Savage Projects Manager Rachel Harban Deputy Projects Manager

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Presentation transcript:

SET OUT YOUR STALL How to Make the Most of Market Trading Chris Savage Projects Manager Rachel Harban Deputy Projects Manager Hello!

#marketsmatter What is the NMTF? Not-for-profit Trade association Run by traders Membership Diverse group of members Representation Industry leadership Established 1899 Promoting markets

#marketsmatter The Markets Industry “A concourse of five or more buyers and sellers” Fairs, festivals, car boots… all markets! Street trading… a market in everything but law Public vs. Private vs. Not- For-Profit Trade associations National Government The most important people… small businesses like you! Portobello Road Romford

#marketsmatter Trading in London Local Authority London Local Authorities Act City of Westminster Act Food Act Street trading Licence Can stipulate toll, location, size, days, times, goods sold… Tolls cover basic provision Service charges Right of appeal, to complain Private Operator May have to permission from franchise rights holder Planning Permission Markets… mostly License, lease or nothing! Can stipulate charge, location, size, days, times, goods sold… Make a profit! Service charges Right of appeal…? Need to know stuff!

#marketsmatter So you’ve got a business idea… Business Plan Competitors Customer needs Unique selling point Market research RetailingFinances Can’t do ‘owt wi’out brass! What makes you different…?

#marketsmatter Preparing to go… Market Trading Risk assessments EquipmentInsurance Tax and self- assessment Budget Food hygiene Avoid iffy tummies! You never know what could happen! Paperwork is your friend!

#marketsmatter You’re on the way… On the gaff Stock insurance Safety and security Prepare for bad weather Get there early Customer feedback Know your rights! Get to know the traders Every conversation is a sales pitch This is England after all! Get a copy of the rules and regulations

#marketsmatter Stay on top of it… Embrace change Retail training Digital marketing Join a trade association Listen to customers Monitor competition Check out new markets Positive attitude Opportunities are everywhere There is strength in numbers! Get on the waiting lists Don’t be Mr. Grumpy! All feedback is good feedback

ENJOY TRADING! Visit us on stand T470 Chris Savage Projects Manager Rachel Harban Deputy Projects Manager Thank you for listening!