Today is the first day of the new financial year, whilst you maybe excited about starting the new financial year with new goals and ideas for your business there is one small thing that you still need to complete before starting your new year.
Stocktaking your inventory is a vital part of your business, here are some tips of why you need to stocktake your inventory:
1. Gives you an exact figure of how much finished products, raw materials and packaging materials that you are currently holding;
2. The Closing Stock has an effect on both this year’s and next year’s income tax return;
3. Helps you understand the movement of your products once you enter your data and compare it to you sales;
4. Take the opportunity to write-off stock that is either obsolete or out-of-date;
5. Use this opportunity to determine what sells well and what the customers want. It may mean that you spend money/allocate resources on the things that will make money rather than the things that don’t;
An example of a stocktake using excel would be
AS AT 30 JUNE 2014
STOCK CODE STOCK ITEM NUMBER ON HAND COST PER ITEM TOTAL VALUE
This spreadsheet can be then given to your accountant who will help you with writing down or writing off stock.
A copy of this spreadsheet can be obtained by Marked Focus. Some of the tips have been provided Marked Focus who specialise in tax consultation, mortgage broking, business accounting, bookkeeping and more. Call (03) 5996 1990 to book a consultation with one of their specialised consultants.
Would You Like a Free Review of Your Tax Return
Were you unhappy with the result of your tax return? If so, we can provide a free review of your last income tax return (valued at $120) To take up this offer call 03 5996 1990.
Have you thought about what goes behind the scenes in organising a market? It takes time, lots of time, dedication, tears, passion, strength to organise a market and we asked a few of our fans from Markets and Community to write about their appreciation to their Market Organisers.
Just like to share my experience as a stallholder at The Dazzling Boutique Market.
I am from Her Macarons and a regular stall holder at Dazzling. Sarah the organiser is very lovely and helpful, that she always goes all out in supporting us by heaps of advertising (that i know will cost her a lot of money) and constantly promoting our business page in facebook. The market is every second month but she is always sharing our sales/promotions ALL the time.
One more thing, her market gave us a lot of exposure to customers not only to buy on the spot but to become our regulars.
Oh and I was surprised that I received an invitation from Better Homes and Garden (TV show) to attend their expo and said they found me from the Dazzling Boutique Market.
I would like to thank Nicole Joy from Simply Boutique Market in Werribee VIC. Nicole volunteers long hours so the market runs smoothly, with little or no thanks for the stallholders. I have just started helping her out and also volunteering one day a week of my time. I would like to formally acknowledge the hard work Nicole puts into the market. My business is Hani’s Mirror Creations and my name is Geanette. Cheers
My name is Mish and our business Ur Baby Trendz has undertaken 2 markets thus far with Melbourne Cheeky Monkey Market.
Being first time market stall holders (my 12 year old daughters bright idea) I thought the process would be time consuming, expensive and confusing. I made my first call to Bianca (who I have dealt with throughout our experience) to enquire about a stall and everything was explained to me step by step in simple terms making the whole process less daunting. Melbourne Cheeky Monkey Market do a lot self promotion which is great and we really saw this in the turn around of attendance. As we are a kids stall we loved that there was also bouncy castles, face painters etc to attract the families.
On arrival our table was easy to find and set up was a breeze due to the great organisation. Any questions we had were answered throughout the day as Bianca made a presence at all stalls to see how we were all going. I really appreciated this as it showed that Melbourne Cheeky Monkey Market was not just about making money for themselves, but ensuring their market holders had a great day of selling.
After the first Williamstown market there was no question about booking another stall, and it was even better. A smaller venue meant less people and less money to be made right? Wrong. We made even more on sales and saw even more people thanks again to Melbourne Cheeky Monkey Market’s promotion. During this market there was a spare stall next to us that someone hadn’t shown up to and instead of leaving it bare, Bianca invited us to spread our stock out across these tables. It was perfect as our samples are huge. There was no extra charge and the market did not have any spare tables making it look amazing and full.
I highly recommend Melbourne Cheeky Monkey Market and Bianca’s great organisation. We will be holding stalls at all their markets time permitting.
Hi just wanted to say I have been part of Melbourne Cheeky Monkey Market twice now and have booked for another I wanted to say it’s the most enjoyable market I have done, the girls Bianca and Stacey both are excellent with their attitude and patience with all stall holders. They go out of their way to make the day as enjoyable as they can for stall holders and consumers no problem is too big or small they welcome feedback chat with the stall holders always checking to see if things are going ok I would highly recommend them and their market any day over some that I have been to. regards Deborah I am a Sales Leader with Avon and I do Breast cancer stands at markets deborah henshall, email@example.com
Naomi from Macarthur Indoor Community Market is a fantastic organiser, lovely person and really cares about her stallholders. I love seeing an organiser walking around, talking to everyone & introducing herself. Plus on the HOT days, she hands out bottles of cold water. Little things make a big difference!
Guest Blog by Sarah Bowers owner of Toadstools and Tails
The trouble with having a creative mind is that you change it all the time. Once you think you’ve settled on something, another brilliant idea pops in…..and of course you just HAVE to do it!
Finally I have decided on a ‘range’ and I’m going to stick to it. We will now be concentrating on our well known ‘Toadstool & Mouse’ blankets (we also provide monogramming on the blankets), swaddling wraps and an assortment of gift packs. All packaged beautifully and our gift packs are especially ideal for baby shower and newborn gifts. If requested, we will also hand write a personal gift card.
I have to say though, the beauty of taking your wares to market is that you can create every idea that pops into your head as it’s a great way to road test, get feedback and most importantly, see if it sells.
Markets are a fantastic, inexpensive way to get your business some major exposure especially when you’re first starting out. This was why I first started markets. The adrenalin (and nerves mind you), on the day of your first market are exhilarating. You look around at your display and possibly for the first time, you realise just how proud you are of yourself and your products.
It gets better…wait until the market goers come in and start paying you compliments, then it feels amazing and makes all your hard work worth every minute.
Doing your first market is a bit like your first day at a new job…how much stock is enough? How much money do I need in my float? Can I leave my stall? What is correct market etiquette? Obviously do as much research as you can and ask as many questions as you like but at the end of the day, it’s such a wonderful community to be a part of. Everyone helps one another, supports one another’s business and this community is where you will receive the most valuable advice because everyone has been in your shoes.
Before not too long, you’re an old hat at it. Your marquee is up in minutes, you know exactly how best to display your products, you know which markets work best for you, your organised and most importantly of all….you have worked out who sells the best coffee!
You will make lifetime friends, have a laugh and admire the amazing work of others BUT, it is hard yakka, so be organised, always have plenty of stock (it makes your stall look so much more attractive) and practice setting up your marquee and how you would like to display your products. Oh and plenty of sleep! This can save a lot of time and disappointment at 6am in the morning, best of all you will be confident and feeling on top of the world.
Markets and Community had the pleasure of selling Toadstools and Tails products at the GO Festival held in October at the Melbourne Showgrounds, the products were bought as gifts as they were presented beautifully ready to be gifted.
Toadstools and Tails products can be purchased via their website: http://www.toadstoolsandtails.com.au/
Markets and Community would like to invite you to support your local community by visiting one of the twilight markets listed below.
Tonight, Friday 15th November 2013 brings about a huge range of twilight markets across the suburbs of Melbourne.
Here is a list of markets near you.
Time: 5:00pm to 8:30pm
Address: 65 Riverend Road, Bangholme.
Burning Soy – Handmade Candle will be there.
Box Hill South
Mentone Primary School Twilight School Fete
Time: 3.30pm to 8:00pm.
Address: 6 Childers Street, Mentone
Narre Warren North
Made for you by shelley will be there.
Pakenham Springs Primary School Market Night
Time: 4:00pm to 8:00pm
Address: Livingston Boulevard, Pakenham
Park Orchards Primary Twilight Market
Time: 5.30pm to 8.30pm
Address: Bowmore Avenue, Park Orchards
will be there.
Address: Wedge Street Piazza, Werribee
Jaded Rose Designs will be there
Wonga Park Primary School Twilight Market
Time: 6.30pm – 9.30pm
Address: Dudley Road, Wonga Park
Market Tour on Sunday, 26th May 2013.
I have finally had the chance to visit Huckleberry Market held at Cardinia Cultural Centre in Pakenham an outer South Eastern suburb in Melbourne, that has a growing population of young families which is the perfect target market for this baby and children’s market.
Huckleberry Market was started by Amy with support and push from her friends and family to run the market which moves between Mornington, Pakenham and next stop Moonee Ponds.
The market is a babies and children’s market with both handmade and boutique style items. I knew a fair few friends would be at the market and I had been promising Amy that I will make it as part of our market tours.
First stop was Gardening 4 Kids with a stall full of gardening tools for children from first gardening, flower or herb kits, gloves, tools, wheelbarrows etc. They have just started a fundraising unit where schools, kinders, playgroups can use as a fundraiser.
My second stop was Ash from Nest Accessories, what a beautiful lady she is, I have been trying to catch up with Ash at markets for awhile as she is a loyal follower of Markets and Community and also because I love her products, they are simply gorgeous and looks like I will be placing an order for a custom made fire engine clock for my little man’s 4th birthday. You will find unique gifts such as wooden mobiles and clocks (see below), gorgeous canvases that are personalised. I have simply fallen in love with these products.
Another one of our friends from facebook is Dot and Spence who have custom made finger puppets, along with a huge ranges of handmade goodies. The finger puppets can be designed especially for the kids with different characters dressed in different clothing for example a mum, dad, brothers, sisters etc. Perfect for children ages 4 and up who love imaginary play.
One of the main reasons I came to Huckleberry Market was to catch up with Bek from Sweet Bubba. She sells a range of Eco, Organic and Handmade products including Baby Amber Teething Bracelets and Necklaces. Bek is the Victorian admin of Markets and Community’s facebook page and is a valuable member of our team so it was nice to see her own business at work at the markets. Check out Sweet Bubba’s products online.
Also a quick mention to another talented stallholder, Bobishi with her baby clothes and accessories, I placed an order for one of the gorgeous tutus which is made from the softest fabric making it easier for it to be worn all the time.
Finally as always I have to buy yummy cupcakes for the kids, I ended up purchasing a delicious array of mix from Amaesing Cakes..Yummy is all I can say.
Country Women’s Assoc Doreen Community Market
Good Friday Appeal Market
When a market organiser decides to run a market on a day like Good Friday, they take a risk of resistance of the stallholders and the community, but the CWA Doreen Community Market has always had its fully fledged support from their stallholders and that is why the Good Friday Appeal Market turned out be so successful in its 2nd year running.
CWA Doreen is a community run organisation, a subsidiary of the larger Country Women’s Association of Victoria Inc. (Association) which is part of the largest women’s organisation in Australia. It aims to improve conditions by community service more especially as they affect the welfare of women and children.
When we listed the Market under our fairs section of the website, we decided to take the opportunity to make it our market tour for the week. Plus I wanted to meet one of our listed stallholders, Made By Elise, whom I have communicated with for almost a year but never met. So I took the long drive from Rowville to Laurimar (only just over an hour), got lost on the way because I don’t like having a GPS but ended up using my phone GPS and arrived in the gorgeous estate of Laurimar. It does look like the adverts they show on TV.
The roads were full of parked cars so I parked across a large lake and walked through the foot bridge with little ducks coming towards me thinking I have food for them. I could see the activity from across the sports oval, so many people, so many stalls and jumping castles. Wish I bought my little ones with me.
First stop was Cheeky Little Fox with her gorgeous little hair accessories. They seem to be at quite a few markets that we list on our site, so I can see us bumping into each other again. It is really nice to know that our social media shout outs work as a few of the stallholders at the market responded to a call our for stallholders at this market.
Next stop is a beautiful lady Janice from Senorita Bonita Children’s Clothing & Accessories with the cutest and most unique handcrafted plush horses. Last year I bought all the little girls in my family Splatt Dolls but this year I will be buying the Plush Horses for them, they are just simply gorgeous. Janice usually sells at school market nights and fetes but will also be at the Melbourne Showcase Market at the end of April.
I finally got to meet Elise from Made By Elise, she was as lovely as ever, and I had a look at her newest creation which was a handmade flower girls’ bouquet. What a perfect place to go for custom made bridal accessories.
Finally I met Homegrown Harvest with their small kitchen gardens. They have a great business with design and maintenance of home, commercial and community kitchens. But the best thing is Kirsten from Homegrown Harvest runs a Mernda and Doreen Produce Swap where the community trades surpluses of their food with other local gardeners. What a fantastic community initiative.
I managed to enjoy a yummy cup of coffee with my little mascot the keep cup and also purchased some yummy biscuits for my little ones from the CWA Doreen stall. The food vendors didn’t expect such a large crowd as many started to run out early.
We put a post up saying what a fantastic market it was the feedback from that post on facebook were from stallholders at the market who had really good days.
The Country Womens Assoc, Doreen holds their market on the 4th Sunday of the Month at the Laurimar Community Centre. They are trying to negotiate a permanent spot for the market as there seems to be some resistance from the local traders for a community market.
Sunday, 17th March 2013 at Kingston Town Hall in Moorabbin.
I have always been a bit of a softie for Vintage Markets but this market was definitely one of the impressive one’s I have been to.
I parked across the Kingston Town Hall on Nepean Highway and could see flocks of women walking in and of course excitement starts to creep in seeing people walking out with 3 or 4 bags as like most women I love shopping.
To greet you at the door is the lovely Emma who is the organiser of the Round She Goes Markets and up the stairs you go to a huge hall full of stalls.
I was on the look out for a dress for a wedding and I have never worn a vintage formal dress before but there is always a first time for everything. I ended up finding a gorgeous silk designer dress with hand sewn beading across the whole dress from Dorothy’s Closet. There is actually history behind the dress, it was worn by Dorothy’s Closet’s mum who used to be a wedding singer. How ironic is that?
I have decided that I will get a special piece of jewellery made from Langi Designs who creates the most unique pieces of items to go with the dress.
Back to the market, I also met some of the other stalls with their funky, fashionable, vintage and stunning pieces of clothing, jewellery, shoes, coats, handbags & accessories. Some of these fantastic stalls are Limonia with some vintage handbags, Kaamer Boutique with their stylish fashion accessories, Aacute with their awesome vintage style clothing, Crimson Gardenia with their swing-era-styled clothing & accessories for that classic look.
But to finish off my day I bought a real vintage jacket from Lady Soul Vinyl DJ which obviously was meant for me as it fit perfectly, so I had to get it!!!!
Markets and Community enjoyed being part of the inaugural event of Bentleigh Farmers Market. The community were thrilled when they found out there was a farmers market coming to their neighbourhood and certainly showed their support on the day.
Walking into East Bentleigh Primary School you can actually see how the school promotes sustainability, they have a Stephanie Alexander Kitchen Garden full of luscious vegetables growing. What a lovely way to teach children the importance of eating healthy.
The market heavily promoted a zero waste policy and encouraged visitors to bring their own coffee cups or use the reusable cups. It was refreshing to see people walking with their KeepCup’s including me. My KeepCup goes on all our market tours. There were long lines to two stall one was “The Little Coffee Van” who were off their feet catering to the large crowd and the second one was the Natural Fruit Sorbet, I was the lucky last to get the Strawberry sorbet but the sorbet certainly did go down well with the kids on such a hot summer’s day.
My next stop was Tanglewood Herbs and I made a new friend, her name is Eszmay (No, not after the movie Twilight). Eszmay won a bronze at the International Flower Show and she gets to travel to all the markets that Tanglewood Herbs go to. Tanglewood Herbs do have a wide range of culinary and medicinal herbs and plants and both Peter and Rosemary were so delightful, they were patiently answering questions about how to grow mint or what to do with a certain plant. This is what markets are about, where you can ask the stallholders any questions and they take the time to explain everything to your thoroughly as they are the growers.
My new friend Eszmay.
We enjoyed many of the wonderful stallholders some who are already our friends and others who are newcomers such as Rustica Sourdough Bakery who sold out by the time we got there, would you believe the bees were attracted to their sample bread and one of the customers said “if it’s good for the bees then it certainly is good for us”.
I would love to mention some of the other stallholders, Grand Ridge Brewery, Rayners Stone Fruits, the delicious beef from Cherry Tree Organics and one of my favourites Flavour Station – We ♥ Cake. I love some of their delicious flavours especially the carrot cake, it is simply divine.
With the community, school, and even the local parliamentary ministers behind the market, Bentleigh Farmers Market has certainly had a great start to many years of providing a farmers market to the locals and also supporting the school and sustainability.
You can check out Bentleigh Farmers Market on our website here.