Thursday, November 27, 2008

How to Start a Business in a Tiangge

Hi there kabayan. So you’ve been thinking of participating in a “tiangge,” uh? Well, “tiangges” or bazaars are the “in” thing now especially that Christmas is just around the corner. In fact, I’ve seen several tiangges already, and they’re mushrooming all over town! It’s like they’re invading the whole town with their pirated CDs and DVDs, Hongkong-made RTWs, made-in-china toys and so many more! Hehe. Just kidding.

But I know that I can’t stop or discourage any determined Filipino “moneyminder” like you, so if you’re planning to participate in a tiangge, then read on to find out how.

I was able to watch Go Negosyo Bigtime last time and they had this interview with the pretty Ms. (or Mrs.?) Heide Laurel, the PR Director of Apex Events. Eco, the host, asked some questions like:

Steps in participating in tiangges: “So ‘yong pinaka-first step na pinaka-importante talaga is your products. You have to make sure na there is variety and quantity, then after that, ‘yong pricing. (QUANTITY) means you have to have enough supplies to make up for your rental, your manpower, your gas, parking, lahat, ‘yun. Tapos, um, syempre ‘yung pricing, dapat ‘yung pricing mo appropriate sa target market mo.”

TIP: Consider your products. Includes the pricing of your product and the quantity you intend to sell.

"Tapos ‘yung second step mo, kailangan din ng research. So by research, ibig kong sabihin, you have to ask around, parang, ask other exhibitors, parang, how long has this company been organizing events, how credible are they, how, where did they, um, their previous events, ‘yun. So it’s better to ask around from other exhibitors then ‘yung feedback kung ok ba ‘yung event nila, madami bang tao, pinupuntahan ba?”

TIP: Do your research. Ask around to find out the credibility of the bazaar organizer. It is important to get feedback from other tenants about the bazaar organizer.

"Tapos hindi lang exhibitors, you also have to, um, ask shoppers, parang, start with your friends and family, itanong mo, parang, um, parang, kunyari sa parents mo, um, kunyari may bazaar, anu ‘yung pinaka-bazaar na favorite n’yo pag-Christmas, ‘yan, pagnag-name na ng mga venues, ibig sabihin most probably ‘yun ‘yong nakakarating sa mga, sa kanila na ads. So ‘yun ‘yong mga i-consider mo.”

TIP: Consider the shoppers. Consider the crowd. The products you plan to sell at the bazaar should suit the crowd and fit the season.

Requirements in participating in tiangges: “Hindi naman necessarily (to have a business permit), kasi usually, mga nagpa-participate sa bazaar mixture ng startup business, mga existing na na may stores, madami nang branch ‘yung iba, so actually ‘yung bazaar, parang, it’s like starting your own small business, kasi same mechanics lang siya, e, in a smaller scale lang.”

TIP: Apply and prepare your products for evaluation. Products will be screened by a product control team."

Requirements if you want to join through event organizers (like Apex Events): “For example you chose to join Apex events, the first thing you do is you have to apply. By applying, you just have to bring your sample products. Minsan, pero ‘yong mga normal exhibitors ok na ‘yon kasi familiar na kami sa products nila. Pero usually, pinapa-screen namin ‘yong products sa product control team para matulungan namin sila ma-assess, kunyari, itong items mo, designer clothes, dito ka bagay na event, ito maganda, pero suggestion lang naman ‘yon, parang, they’re free to choose naman kung (anu) gusto nila salihan. After n’un, fill out all the necessary requirements (which include the application form, a deposit slip and 2 valid IDs).”

Apex Events contact details (o, ha, free advertising dito, hehe):

5 Steps to Set Up your Tiangge Business

So here’s a review of the steps that you need to do to set up your tiangge business (the following were taken from the Go Negosyo Bigtime TV show, shown every 8:00AM, Saturdays and Sundays on Q TV): (note: I added my very own comments after each step)

1. Have a product or a service to offer at a tiangge. This one’s self-explanatory. But let’s tackle this anyway. I’m not at all an expert about tiangges (I’m just your ordinary Filipino neighbor trying to supplement his income from blogging, hehe:-)), but as what Ms. Heide said above, consider the quantity and variety of your products. Also important is the price of your products, which should be appropriate to your target market. This simply means that you can’t sell Sauerkraut Raviolis (what?) to a minimum-wage earner Aling Inday. Sell it to Doña Pipay! :-)

2. Find a bazaar you can participate in. The TV show (Go Negosyo) suggested that you look for bazaars in entrepreneur or business-oriented magazines. You can also ask event organizers like Apex Events for a list of bazaars. Of course, you can also harness the power of the Internet, search for bazaars using Google and other search engines.

3. Prepare all the requirements and prepare your products for retail. Like what was mentioned in the interview, prepare your application forms, IDs, deposit slips, etc.

4. Open your shop and advertise it. Once in, open your shop and advertise! Tell everyone you know. Let word-of-mouth do its thing. You can also make use of flyers, as suggested by Go Negosyo.

5. Review your expenses and calculate your sales. Reassess your business. Does your business fit well in a bazaar? Then, according to Go Negosyo, “go for it!” If not, then the show advised to “try other bazaars.”

Trivia: Number of times Ms. Heide mentioned the word “parang” in the interview : 7 times :-)

I hope this post was able to help you. If you found this post truly useful, please tell others about this post.

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