how to start your business at the local market?

"If the average citizen of Tonga is guaranteed equal opportunity in the polling place, he must have equal opportunity in the market place...."

Why Markets are Good Opportunities for Minorities

Markets have and always will provide great entrepreneurial business opportunities for minorities because they require low set-up costs, with little risk.

1. Markets have always been a place of opportunity for minorities, immigrants and others who want to start a business but who may not have a lot of money.
2. Markets are something we all share. The market tradition is shared by every culture.
3. The market tradition is very much alive here in Tonga, and the energy, ideas and products introduced by minorities are making them much more interesting, attractive and inclusive. The best markets are the most diverse and bring the most people together.
4. It doesn't take much money to start a market business - it is one of the cheapest places to start a business. However, it does take a lot of energy and commitment to make it a long term success.
5. You are your own boss. But you must be good at self-motivation and have a pleasant personality that can get along with many different types of people.
6. Success at a market is not automatic. It is reached through a combination of factors such as location, size, prices, reputation and overall experience and not all vendors are successful.  It is the vendors (You!) and the quality and consistency of your products that make a market successful and bring people together.

Markets

• are more popular than ever;
• have low start-up costs;
• are a fun way to make money and socialise;
• a great place to experiment with new products and ideas and get immediate customer feedback;
• a good way to improve your language and people skills;
• can lead to new opportunities through exposure to new people;
• an easy way to improve your business skills;
  
  

What to sell?

Identify and choose your market and then Choose what to sell is as important as finding the right market. You have to be comfortable at your stall and knowledgeable about your products. If your English is limited, sell something that does not require a lot of explaining. No matter what you decide to sell you must have product knowledge and credibility, a passion for your products and enthusiasm with your customers, capacity and reliable suppliers who can get you what you need.

Starting Small

It is easier to grow your business if you start small.

Keep your expenses and risk low in the beginning. A market business can e started from very little money. Product displays look better and fuller in small spaces. It is also important to be a good listener and observer. Grow your business by learning what people want, you can make little changes every week and watch your business grow.

As you business builds, you can increase your inventory and make changes based upon experience. This is the best way to grow a market business.

Many markets have repeat customers every week - you will get to know these people and establish social relationships. You are developing a business reputation through personal connections.  If your customers learn to trust you and you know you have good products, they will tell friends and help you grow.

Start small and grow wisely. To be continued.