I’ve received a few emails asking about specifics regarding having your own booth in a space so I thought I’d take the time to answer them.
Q: How did you decide where to rent a space?
A: I looked around at quite a few places before I decided. Unfortunately my first choice is super booked but honestly finding my space at the Carmel Old Town Antique Mall really seems like the right choice for me. It’s in a great area (the art district) and get’s a lot of traffic. I also liked the owner after talking to him a few times, which obviously is really important. Plus it helps that every time I come to work on my space I get to see this cute girl!
(Sorry… iPhone pic)
Q: Do you have to work at the mall?
A: No, I don’t but I do know some places require the people that rent spaces to work x amount of hours a week. Not only do I not have to work at the mall they even dust and make sure my space stays nice between my visits. They leave it basically up to me to decide when I go to the space. I go there at least once a week.
Q: Do you have to pay to rent the space?
A: Yes, I do and it’s pretty reasonable but everywhere is different depending on where you live. It also depends on the size of the booth. I pay a monthly fee to have my space.
Q: Are there any other charges you have to pay?
A: Yes and again it seems like it is different at every place but I pay a percentage of my sales to the owner of the mall. Where I am they give you a choice you can pay a lower percentage for cash purchases and a higher amount for credit card purchases. I chose to pay a straight percentage (in the middle) for all my sales.
Q: Do you keep track of your inventory or do you just put the stuff you want to sell at the booth?
A: I decided to treat this project like a small store because my plans are to eventually own my own store. I use QuickBooks online and everything I buy and sell goes into my inventory list. I know how much I originally paid for it, how much it may have cost to refurbish it. I also take into account how much I have to pay to sell it and how much I will have to pay in taxes before I price the piece. I really think the best way to be successful is to treat this venture like it was an actual store.
If you have anymore questions please do not hesitate to ask!! It’s been so much work but I have loved every minute of it!!