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Choosing the bazaar option

These trying times have bazaars back in vogue
By Entrepreneur Staff |

In trying times, people will always flock to the markets to get the best deals, which is why bazaars are now in vogue. Bazaars, or tiangges as they are known in the vernacular, have long been the favorite haunt of shoppers in search of unique and even extraordinary items at reasonable prices, and have served as incubators for a lot of the businesses that meet this demand.

With high foot-traffic and low overhead costs, bazaars allow entrepreneurs, particularly those with minimal capital, to take their first steps in business and to create a buzz for their products and services. In this package of stories, we will tell the stories of men and women who found business success in bazaars, and how they were able to capitalize on their participation in these seasonal markets.

However, bazaars are not just for startups; even established entrepreneurs find joining bazaars a very good proposition—bazaars help in introducing one’s business to a wider audience. For some of the entrepreneurs we are featuring, selling their products and services at bazaars has in fact become a year-round affair, with their businesses becoming full-fledged independent stores.

Finding the right bazaar for your business can be a pretty daunting task, what with the many bazaars being held all at the same time. Join the right bazaar and you stand to earn a lot. Conversely, joining the wrong bazaar can result in financial losses and damage to your brand. That is why we prepared a bazaar calendar that lists around 50 tiangges; use this calendar to examine which one is the right fit for you and your target market. We have also included more specific information about four bazaars that are increasingly becoming popular among buyers and sellers.

Finally, instead of just joining bazaars, why not organize one yourself? Learn from the pros on how to run your own bazaar. Learn the importance of getting a good location and building up your network. Get tips on how to deal with bazaar concessionaires.

The coming holiday season is perhaps the best time of the year to launch your bazaar business. We hope that these stories provide you a head start in this venture.

This articles was originally published in the September 2009 issue of Entrepreneur Philippines.


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