Becoming a Trader

 

What is the work like?

 

Market traders, also known as stall-holders, sell goods from street stalls, and indoor or covered markets. The goods could be anything from meat and fish to new or second-hand books or antiques.
 
As a market trader, your work would involve:
 
  • early morning trips to a wholesale market to buy fresh produce
  • visiting other suppliers or warehouses and negotiating the price of goods
  • unloading the van and setting up the stall
  • standing behind the stall, advising and encouraging customers to buy
  • taking payment for goods and giving change
  • packing up the stall at the end of the day
  • stocktaking and deciding which replacement goods are needed
  • keeping records of goods bought and sold, including VAT details.
You would also keep up to date with the market’s regulations and the latest laws on trading and employment.
 
As a trader selling your own handmade crafts, you would spend time buying materials, designing and making items for sale and travelling to specialist craft markets and fairs. You could also use your stall to sell services, such as body-piercing or key-cutting.
 

 

What salary and other benefits can I expect?



  • A trader working a small stall for a couple of days a week is likely to earn less than £7,000 a year.
  • Earnings from a stall operating several days a week may be between £15,000 and £26,000 a year.

Traders selling specialist goods can earn more.

Market traders must pay for the rent of their stall, their stock and the running of their vehicle out of the income they earn.

 

 

What are the hours and working conditions?

 

Your hours could vary, but you would usually start between 5am and 7am and finish your day around 5.30pm or 6pm. You would often work weekends. Part-time hours may also be possible.

You could be based at one market or work at different markets on different days. You may also spend some time travelling to buy and collect goods for the stall.

 

 

What skills and knowledge will I need?

  • a friendly and pleasant personality
  • a sense of humour with the ability to relate to all kinds of people
  • confidence and enthusiasm for selling goods
  • the ability to negotiate and persuade
  • creativity and the ability to set up an attractive stall
  • business skills for competitive pricing and sale of goods
  • the ability to understand and keep up to date with trading laws and regulations
  • good maths skills for handling money and keeping accounts.
IT skills may be useful to manage stock and keep track of income and expenditure.
 

 

What opportunities are there?

 

Local authorities often run large outdoor or covered markets, town square and high street markets, and indoor markets with permanent units. Other market venues include privately run markets that operate only at weekends, Sunday markets, special bank holiday fairs and tourist markets.


Your prospects for entering market trading could depend on the type of goods you are selling. Your chances of securing a permanent pitch may increase if you are selling a less common line of goods. You would need to be aware of the kinds of markets where your goods are most likely to sell. You can view stock lines from our Trader Section


Market trading is becoming an increasingly competitive area, with rising costs for stalls and an increase in shops selling cut-price goods. Competition for stalls can be quite strong, and it can take a long time to secure a permanent pitch. There are some opportunities to work as an employee and earn a wage, but generally you would be self-employed.


As an established trader you could expand by taking on staff and starting up stalls in nearby markets. Some market traders work or expand their business abroad.

 

 

What qualifications and experience will you require?

 

You do not need any academic qualifications to become a market trader, although basic maths skills and English are useful. Your personality and ability as a salesperson are more important than qualifications.
 
It can be difficult to get a regular stall on an established market, so you could start by helping out on a stall on a part-time basis. With this experience, you could attend the market as a ‘casual’ trader (arriving at the market early and queueing for an available pitch), which could lead to securing a regular stall.
 
Market stalls are usually rented from the market operator, often overseen by the local authority. You will usually need:
 
  • to be at least age 17 or 18
  • a driving licence and a vehicle, such as a small van
  • the capital to buy stock
  • public liability insurance.
The National Market Traders' Federation provide the necessary insurance to all their members and they also have a database on their website of markets across the country. You should also contact your local authority to find out how they let their market stalls.
 

 

What further training and development can I do?

 

Most of your training would be informal and involve learning on the job from experienced traders, sharing their knowledge and observing their sales techniques.
 
There are some short courses you could do, which are mainly provided by the market operator or local authorities. You may also find it useful to do a course in a subject such as running a small business or book-keeping and accountants (although you could employ an accountant to handle the accounts, tax and VAT). Courses are often available at local colleges.
 
For more advice and information on relevant courses and learning opportunities, you could try your local Retail Skills Shop (supported by the National Skills Academy for Retail and Skillsmart, the Sector Skills Council for Retail). Check the National Skills Academy website for a list of local shops.
 

 

Where can I go for more information?

 

 

National Market Traders Federation
Hampton House
Hawshaw Lane
Hoyland
Barnsley
South Yorkshire
S74 OHA
Tel: 01226 749021
http://www.nmtf.co.uk

 

 

Skillsmart Retail
Fourth Floor
93 Newman Street
London
W1T 3EZ
Tel: 0800 093 5001
http://www.skillsmartretail.com
 
 
 
 
 BACK TO ABOUT US