Man's fascination with the adventure of commerce and the atmosphere of the marketplace spans the centuries. In today's modern world, there has been a resurgence of interest in personal shopping with one retail sector growing daily in popularity - flea markets.

A flea market is not just a physical space occupied by vendors - it is an entertainment, a shopping event, a social experience, and best of all a place to hunt for the elusive bargain.

There is a centuries-old tradition of flea markets held in all the great cities of Europe. Brussels, Rome, Florence and London all feature large open-air or covered marketplaces which have delighted tourists, visitors and locals over the years. One of the best and most famous examples is the Champs Elysees Flea Market at 49 Rue de Ponthieu, Paris. Here second-hand furniture, antiques and crafts are available at what the French nicknamed "le marche aux puces" - the flea market.

The tradition has now been successfully imported to North America. In Canada, flea markets began as adjuncts to country fairs and auctions, with the emphasis on second-hand goods and antiques. From these rural origins, flea markets have moved to metropolitan locations with all the benefits of indoor shopping. They have evolved into places where you can find auto parts, jeans, table linens, a watch, a coat, and an antique rocker for the house, all at reasonable prices.

The magnetic appeal of the flea market is based on four main elements. First, it is an inexpensive entertainment. Flea markets are jammed on weekends because it is a place to go and see what's new and wander around looking at the merchandise. It is a social occasion where people mingle, talk with each other and barter with the vendors. It has the lure of the unusual - there is always different merchandise available, especially in antiques and collectibles. Finally there is the perennial appeal of the bargain. Face-to-face commerce at discount prices brings a sense of adventure back to the business of buying and selling goods.

There is also a strong appeal to vendors. A well-run flea market offers entrepreneurs, craftsmen and would-be shopkeepers a chance to try out their wares before committing to a major enterprise. Vendors with a good idea and a good product line can prosper with minimal risk in terms of capital investment, store-front overheads, and stock in hand.

Most Canadian flea markets unfortunately have not matched required management practices with their burgeoning popularity. Many markets are run in a very off-the-cuff fashion, with vendors paying their stall rental, scrabbling for a good location and trying to set up time to meet the public. Vendors at these locations come and go with little effort by the managers to develop continuity, stability, and a business-like approach to serving the buying public. The appearance and disappearance of fly-by-night operators, and the general lack of organization make it difficult for vendors to get established and for repeat customers to find them. The challenge then, is to amalgamate modern merchandising techniques and effective management with the flea markets' magnetic, old world charm.

A flea market is usually defined as an open space in which small vendors and artisans can set up stalls to sell handicrafts, antiques, collectibles and new merchandise at discount prices. As described earlier, most Canadian flea markets lack organization and continuity. Most managers act as landlords collecting the rent, with stall allocation relegated to the first and fastest.

At the Fantastic Flea Market in Mississauga, the majority of spaces are allocated on a monthly basis, at very reasonable rents, to long term vendors. A full-time manager assesses applications from new vendors, allot rental spaces, collect rents, and enforce the market rules and regulations. A critical difference between the Fantastic Flea Market and some other operations is that vendors may leave their wares in their spaces during the week. It really works much more like a weekend store. Full security and protection systems are provided, and weekday hours are assigned during which the vendors can install new wares, clean their booths, take inventory and generally service their individual business. When the markets open Saturday and Sunday mornings at 10:00AM, the vendors are all in place ready to do business.

The market managers encourage the vendors to dress up their spaces and are always available for tips on set up, display, and how to run a small business. In terms of merchandising, the market managers allow only a certain numbers of vendors in each category of merchandise. Vendors selling similar wares are then physically located at distant spaces in the market. This encourages competition by comparison shopping without causing hardship to individual vendors.

The measure of success for this style of management is the low vendor turnover at both locations. There are few empty spaces. The flow of customers, many coming back for repeat business with the same vendors, remains constant from one weekend to the next.

The Fantastic Flea Market has a high community profile. It has been established by their participation in and service to local charitable organizations. Fantastic Flea Markets is proud to support the Variety Club and Interim Place.

Eric Blackwood, President of Fantastic Flea Market Limited, has been successfully pioneering unique and innovative business ventures from his youth.

Born in Brookfield, Bonavista Bay Newfoundland, Mr. Blackwood acquired his pilot’s license and served as an officer in the RCAF during the Second World War. Upon his return home, he developed commercial air service in Newfoundland and founded Eastern Provincial Airways. One of the main objectives of the new airline was to increase service to remote and isolated ports and fishing villages. Mr. Blackwood gained a reputation as a determined and skillful pilot for his flights to ice-bound areas for emergency service and mail delivery.

In 1954 he sold his interests in Eastern Provincial Airways and moved to Toronto. For the next period he was Northern Base Manager for Austin Airways, developing aviation routes into Northern Ontario.

In 1960, Eric Blackwood decided to pursue other interests. He attended the Business Administration program at Seneca College and formed his own management accounting service: Eastcoast Investments Limited. Over the years Eastcoast Investments has grown through diversification into additional business areas.

In addition to his management of Eastcoast Investments, Mr. Blackwood has been affiliated with Sipco Oil Limited as Controller and VP Finance.