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The Village Markets

The Village Markets

Boutique Fashion & Lifestyle Market for Creative Entrepreneurs - Burleigh Heads, Gold Coast Queensland

Tag: How to

How To :: Cover your Legal Bases When Starting Out, with Liam Young Legal

The next installment of our How To series is here with local Lawyer, Liam Young. When starting out, often the last thing on your mind is business administration. But take…

The next installment of our How To series is here with local Lawyer, Liam Young. When starting out, often the last thing on your mind is business administration. But take it from us... it pays to cross your T's and dot your I's before launching. In this post Liam provides invaluable advice, covering off all the must-do's prior to launching your business. Read on and enjoy!

So, you’ve decided to take the leap and start your own business. First up, congratulations because putting your idea into implementation is always the biggest step.

Now that you have started up, or are about to, there will be some legal aspects to running an business that you probably haven’t considered but will be incredibly important in the long run.

The list of legal considerations that may affect you are too endless to mention and will always be dependent on your own circumstances. There really is rarely a one size fits all approach to starting up. That said, there are some things that are common to all new businesses and I’ll touch on a few of these here.

  1. Incorporation

More than likely the first thing that should be done is to incorporate your company. This can be done relatively easily online or with the help of your accountant or solicitor.

It is generally considered that a company is the most useful structure to trade through when starting a business. That said, there are other options such as operating as a sole trader that may suit you depending on your circumstances.

At this stage in the process you should also be turning your mind to agreements between the parties that are running the business. If it’s just you running the business then this won’t apply (unless you have some financial backing from third parties). However, if there are 2 or more of you involved then you need to turn your minds to getting an agreement done that sets out how things are to work in the event everyone wants to go their separate ways.

It may seem too early but the last thing you want is to get a few years down the track and one of your partners needs to exit the business and there’s no real plan for how that will happen. Nothing will cost you more than a messy exit from the business by a partner who feels hard done by.

2. Intellectual Property

As a creative business intellectual property is your key asset. You need to make sure you protect this asset to the fullest extent possible from the outset.

There are many different categories of intellectual property but you are most likely to be seeking to protect either a patent, a trademark or copyright.

How you’ll protect each of these categories is different so it is important that you either research it thoroughly or, preferably, get some advice. There’s some great advice available on ipaustralia.gov.au

3. ABN and Tax

This is more the sphere of your accountant but you’ll need to register for an ABN so that you can commence trading.

You’ll also need to get yourself set up to start remitting tax and other payments, such as:

  1. GST
  2. PAYG
  3. Superannuation

4. Policies

You will need a few essential policies that set out how you’ll interact with your customers everyday. These are:

  1. Terms and conditions – this will govern areas such as returns and refunds, consumer guarantees, delivers and disclaimers. These need to be clear to your customers, for example, a button accepting the terms and conditions when purchasing via your website.
  2. Terms of use – This sets out how people can use your website when they visit and should include protections for your intellectual property.
  3. Payment Card Industry Data Security Standard – This is an information security standard for handling card payments that is designed to increase controls around cardholder data and reduce credit card fraud. You may outsource payments to a third party, such as Paypal, who will be responsible for this.
  4. Privacy Policy – This governs how you handle your customers’ data that you collect from website or profile visits. Privacy is an increasingly important concern for customers so you need to ensure you handle their data in a way that makes people comfortable about visiting your site. If you sell to European based customers then there will be additional protections you will need to put in place following some significant reforms known as GDPR.

5. Contracts

There will be a host of contracts that you will start entering into. Make sure you read them and understand your obligations under them.

For example, some supply contracts may require director guarantees that make you personally liable if you fail to make payment.

You will also probably need some standard contracts for aspects of your business, such as for suppliers or contractors working for your business.

6. Legal Health Check

Make sure you develop a good working relationship with your solicitor so that you can run issues by them as the need arises.

At some point you should get your solicitor to run their eyes over your business and let you know what is working well and where there are areas of improvement. This should then be done on a  regular basis.

CONTACT

Liam Young 1300 189 697

Liam Young Legal 

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How to Nail Your Stall Presentation :: With Drift Trading Co.

There’s market stalls and then there’s aesthetically pleasing market stalls – the kind that present your brand and products in the best possible light. Let’s be honest – if it…

There’s market stalls and then there’s aesthetically pleasing market stalls – the kind that present your brand and products in the best possible light. Let’s be honest - if it looks that good on the outside, chances are the products inside are just as dreamy and your customers are more likely to want to connect with your brand.

A standout in the stall presentation stakes at TVM is Drift Trading Co, the lovechild of Lou Martin and her handy husband Paul (a qualified carpenter/joiner). We spoke to Lou to get the inside tips on how to nail your stall presentation.

Your stall is known as being ridiculously good-looking, how important is a well-presented market stall?

Ha, ha that’s very kind!  We do put a lot of effort into our stall.  I guess we kind of see our stall as our little shop front – it’s the face of ‘Drift Trading Co.’  We work super hard to produce a quality, handmade product and we want to display it in the best light possible – it needs to reflect our brand.

One of our motto’s from the start has been to continuously improve our stall fit-out – at the end of every market we reassess and ask ourselves how could it work better practically or look better – it’s evolved quite a bit from the early days.

We both actually really love doing The Village Markets twice a month – I guess when you’re working fairly autonomously all week it’s nice to get out and meet your customers – I also think our customers enjoy seeing the face behind the brand.  We’ve gained a really lovely repeat customer base and it’s a really great feeling seeing a familiar face walk back into our stall – nothing beats praise for something that you’ve made with your own two hands.

How did you design your stall layout?

Our stall layout has evolved over time as our product range has grown.  We’ve always had a stall that allows our customers to walk in and around, rather than just walk past (i.e. past a table front) - it creates more of a shop feel and makes it easier for customers to browse without feeling hassled or pressured to purchase.  We use a lot of recycled timber as it’s our thing and it’s where Paul’s talent lies – it also works beautifully with our product story and branding.

Paul had the idea for our current fit-out for quite a while before he actually built it, however the vehicle we had at the time was too small to transport the solid wall structure he had in mind.

The actual construction of our ‘mini shop’ took a weekend for Paul to complete – this is bearing in mind his background in building.

How long does it take you both to setup on market day? Do you have any cheeky tricks to make life easier/less stressful when setting up - given it's a limited time frame?

Hmmm, we are usually the last to finish setting up and the last to finish packing up but we do have quite an elaborate set up!  We go pretty flat out for an hour and a half before our stall setup is complete.

In terms of set up tricks, trolleys are definitely our friend when it comes to transporting product and display items to our site.  We each have our roles during setup time so that we don’t get in each other’s way and we maximise the time to our best use - you kind of get into a bit of a rhythm after a year or two!  We also have a checklist that we run through when packing for the market so that we don’t miss anything.

Drift Trading Co’s Top Five Tips for Market Stall Presentation:

  1. Think about how you would want your products displayed in a shop – what would the shop look like? What kind of feel or image do you want to portray?
  2. Make sure your products are displayed at eye height and easy to access.  People like to pick products up and touch, feel, smell – that’s the difference between online shopping versus brick and mortar shops – it’s the experience.
  3. Add some greenery or dried flowers – make it feel welcoming and enticing.
  4. Make sure your prices are displayed and are easy to read – some people don’t like to ask how much things cost and will end up walking out if pricing is not displayed.
  5. Keep evolving – make sure you change things up every now and then – even if it’s just simple changes that keep it fresh and interesting.

 Thanks so much Lou (and Paul!) for sharing this with our TVM community! Find Drift Trading Co. at TVM this Sunday 1st July 2018 and at every other TVM.

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Our new eBook, How to Launch Your Startup, is Here!

Last week at the first TVM Talks event, we excitedly announced our first eBook, How to Launch Your Startup, is now available. This eBook has been a long-time in the making…

Last week at the first TVM Talks event, we excitedly announced our first eBook, How to Launch Your Startup, is now available.

This eBook has been a long-time in the making and it's vision has always been to create a handy guide for new businesses or those thinking of starting a business, that is jam-packed full of advice and insights.. the things we wish we'd known when starting out.

There's a one-page business checklist to help cover off all the nitty gritty of business admin, plus a resource toolkit that is designed to help streamline your business.

How to Launch your Startup includes insights from TVM Founders, Marissa Bowden and Sarah Schoeller, plus advice from our stall holders (the founders of Grace Bijoux, Sweet Child of Mine and Kivari).

It's succinct and easy to read... and we hope you love it!

BUY NOW

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How to :: Be Prepared for Market Day

Holding your first market stall can be daunting… there’s so much to plan and do, plus mind meeting your customers and getting your sales hat on. We want you to…

Holding your first market stall can be daunting... there's so much to plan and do, plus mind meeting your customers and getting your sales hat on.

We want you to be as prepared as possible for your first market day at The Village Markets and have listed our top tips below.

Eftpos and Mobile Payments

TVM has a ATM on site at each event, but accepting mobile payments is a great way to increase sales. Handy options include Square and PayPal Here. Be sure to bring a float for cash sales too!

Packaging

Superb packaging speaks tonnes... have you considered your swing tags, boxes and bags? And how do the align with your business?

Stall Presentation and Signage

At TVM, we're big on presentation. Each stall must be presented just like a boutique and we encourage stall holders to go above and beyond on market day by running our Standout Stall Comp.

Customer Service

Get your game face on! It's time to meet the most important people in your business... your customers! Come face-to-face with your customers at TVM and wow them with your superb service skills. Your know-how behind the business is what's going to impress them most. Don't forget TVM is all about the Good Vibes... so keep it positive!

Thinking of joining our community of creative entrepreneurs? Apply online now.

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How to… Create the Perfect Market Stall

Ready to commercialise your craft? The Village Markets co-founders will show you how! Few people can say that losing their jobs was the best thing that ever happened to them….

Ready to commercialise your craft? The Village Markets co-founders will show you how!

Few people can say that losing their jobs was the best thing that ever happened to them. Yet such was the case for Queensland Gold Coast marketing executives Marissa Bowden and Sarah Schoeller.

The colleagues were working in a busy marketing department for a large listed company when they suddenly found themselves unemployed at the start of the financial crisis seven years ago.

“However, we both now say it’s the best thing that ever happened because we potentially wouldn’t have had that push to go ‘Okay, that door is closed, what’s next?'” Marissa remembers.

What would come next is the hugely successful The Village Markets on Queensland’s Gold Coast.

The pair share their expert tips on how to create create the perfect stall…

STAND OUT FROM THE CROWD

Make your stall shine. Turning up with a plain marquee, a table and a couple of racks probably won’t do that for you! Be creative, think of an interesting concept or layout that will make your products stand out from the crowd.

POSITIVE VIBES ONLY

If you’re enjoying your day, this will come across to your customers, who are more likely to feel welcome if you have a smile on your face. We want people to leave feeling happy and satisfied about their morning, and hopefully wanting to come back time and again!

BE PREPARED

Have EFTPOS, which is made easier with a number of phone apps and tools now available. It’s known that stalls with EFTPOS facilities can turn over more than those without due to convenience.

GET ONLINE

Make sure you have a great online presence through all social media channels as great photos and content go a long way. We advise stallholders to utilise any additional opportunities that may present themselves.

MARKETING IS A MUST!

Get to know your customers, sign them up to a mailing list so you can keep in touch and let them know of any sales, new stock and exciting new collections.

Read their full story in Issue 13 of The Collective. 

Republished from The Collective. Written by Amy Mills.

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How to… Create a Successful Market Application

For your best chance at creating a successful TVM market application, we’ve developed a short guide on how to present a top notch application. Before you apply Read our FAQs and check…

For your best chance at creating a successful TVM market application, we've developed a short guide on how to present a top notch application.

Before you apply

Read our FAQs and check out out event photos to ensure your products fit TVM prior to applying.

What does TVM look for?

Creative and uniquely designed products (in particular, fashion) by emerging designers. Original designs, concepts and the consideration of appropriateness and viability of the product with The Village Markets are also key.

Detail

Provide us with us much written detail about your products and your stall design as possible. Where possible include a photo of your stall layout - stall presentation is a key element of TVM and we run Standout Stall Competition after each market.

Images

The Village Markets favours high quality, professional images that may be used for our marketing and promotion. Think well-styled shots that are professional and of high quality. Some examples below.


TTF-48-s

TTF-29-S

TTF-21-s

Social Media

Be sure to include your Facebook and Instagram account links so we can review your accounts as part of your application.

The Village Markets ethos has always been to represent the best fashion, art and design talent and acceptance to The Village Markets is via a competitive process.

Application

If you're ready to apply, click here for the TVM application form.

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