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Mission
The mission of the Wildwood Community Market is to provide community events for all ages that: Provide a fun, community-oriented event that will highlight downtown Wildwood and expose attendees to the wide range of shops, restaurants and businesses that are available Provide a source of fresh fruit, vegetables, local and artisanal goods to residents Encourage residents to get in the habit of coming downtown for their food needs and patronizing local businesses Promote downtown Wildwood as a profitable location for businesses Foster a sense of community and improve the quality of life for residents Increase interaction between the local population and the retirement community of the Villages Give local farmers and artisans a venue to promote and sell their products.
Vision for Success This market will function as an economic development tool and a community gathering place. A successful market will become a downtown establishment that attracts locals, travelers, and the retired seniors from the Villages. The first year will be dedicated to making sure that the market is consistent, professionally-managed, well attended and highly-visible. In the second year the goal is to expand and become profitable. There will be an increased focus on programming that would include: music, cooking demonstrations and activities for children in order to increase attendance and make the market fun and exciting. In the 3rd year the successful market will purchase an outdoor pole tent to provide market attendees with an area to escape either the heat or rain and a comfortable place to rest and eat. To accomplish these goals, the priorities for the market will be 1) gather the best local farmers, artisans and eateries 2) publicize the Market, both to customers and vendors and 3) obtain grants from state organizations as well as the federal government and seek sponsorships.
Location
The proposed locations for the market include 1) the courtyard of the Wildwood City Hall, 2) the empty lot behind City Hall at the northeast corner of Rutland St and Gamble St., and 3) the park at the northeast corner of Main St. and Oxford St. Location 1 is optimal for a weekend market as it has the highest visibility. Location 2 is great for weekday markets as it doesnt block City Hall and still has some street visibility. Location 3 is adequate for market stands any day of the week, has great visibility, and lends itself well because of the enclosure, to market demos. Plentiful parking is a great asset for all these locations.
Ownership
Under one model the market will be run by a non-profit corporation that will report to the Wildwood City Hall. Under the model in which the Wildwood handles funding directly the market will function under the umbrella of either Sumter County or Wildwood City Hall. All financial transactions for the Wildwood Community Market would be run through the Citys bookkeeper.
Competition
Mt. Dora Market which is held on Sundays from 9 -2. Rennigers Flea and Farmers Market is open Saturday and Sundays from 8 4. Lady Lake Chamber of Commerce holds a market every Tuesday from 9 -1. Leesburg Farmers Market is held on Saturdays from 9 3. The North Lake Flea Market is held Fridays, Saturdays and Sundays from 7 -3 The Villages holds a large farmers market on Saturday 9-2 Since the target market for the Wildwood Community Market are local residents and business as well as senior residents of the Villages, Rennigers Market and the Mr. Dora Market arent an immediate concern as most of this local market will not be willing to drive 50 minutes on a regular basis. The Lady Lake Market is a very small market of sometimes only 10 vendors that is held only on Tuesdays. The Leesburg Market is a direct competitor because of its proximity and well organized market and because of this it would be inadvisable to hold a weekly market only on Saturday. The North Lake Flea Market isnt competition as most residents of the Villages wouldnt attend this market. The largest competition is the market at Brownwood Center in the Villages which has approximately 70 vendors. The advantages the Wildwood Market has are 1) proximity to a retired population of 52,000 with disposable income, 2) an emphasis on local eateries which is missing from all other markets, 3) high visibility and marketability due to proximity to Floridas Turnpike 91 and Highway 75. It is preferable to have a weekly market on Wednesday, Thursday, Friday, or Sunday.
Summary
Strengths Quaint downtown setting High visibility location that may attract passerby. Community interest and support for establishment of a market Access and proximity to a large population with disposable income. Nearly all residents of the Villages pass by Wildwood on their drive south.
Weaknesses Lack of structure to protect vendors and shoppers from the elements Holding a market on Sunday will likely not produce the desired: spillover effect
Opportunities Threats Inability to secure enough vendors would result in a small market that wont draw enough foot traffic Limited budget for advertising and promotions Dependence on the the retirement community of the Villages is subject to seasonal variation The opportunity for local business to promote to residents of the Villages that normally would not patronize. Since the other competitive markets lack immediate proximity to the Villages, the Wildwood Market will become the market for those wishing to support local food and local entrepreneurs. Nearness to 2 major highways provides a huge marketing potential to passerbys
Marketing Strategy
Since there are a small number of community events in the area, the Wildwood Market would stand out as a unique opportunity to purchase local food in addition to being a fun community gathering. Marketing outlets include: (Free) The Wildwood Government Homepage Press in the Daily Sun News Promotional story for Channel 13 News Promotional story for The Villages News Channel Included news of market in Sumter County Chamber of Commerce publications Email campaign
(Nominal) Banners promoting market at entrance/exit for Highway 91 and 75 Creating a webpage for the Wildwood Market Joining the Florida Farmers Market Association and getting listed on their website Posters and Flyers
Management
Either a non-profit organization or Wildwood City Hall will do the administrative work needed to get the market started. The manager will handle putting together a business plan, vendor guidelines, web site creation and site planning. The manager will also publicize the market and be responsible for advertising and promotion of the market Farmers market managers need a variety of interpersonal and technical skills to work effectively with farmers, consumers and community partners. It is critical that the market manager have the following skills to perform the job effectively: Effective problem solving Creative thinking Self-motivation Organizational skills Communication skills Marketing skills Financial skills Passion and dedication to the local food movement
Responsibilities 1. Determine the eligibility of those wanting to sell at the market to uphold community standards and ensure the sale of high quality produce, artisanal goods, and prepared foods. 2. Actively recruit new producers to expand the variety of products for sale 3. Collect daily fees from vendors and maintain accurate records of payment 4. Assign selling spaces 5. Ensure that all applicable licenses, permits and insurances are filed with the relevant agencies 6. Establish and enforce regular hours of operations 7. Continually evaluate the markets strengths and weaknesses. 8. Create a website for the market promoting vendors 9. Promoting the market and create a marketing campaign 10. Writing for application for state and federal grants. 11. Recruit and manage volunteers
Financials
While the market will be self-sustaining after 1 year. An initial investment of $1,000 would allow for the purchase of signage and promotional materials. $10 vendor fee is cheaper than the $15 charged by the Leesburg market. Ocala charges $25 for the Saturday Market held in Downtown Ocala. Initially, and depending on how successful vendor recruitment is, vendors will be given a couple of weeks of attendance privileges free of charge. This will attract a large number of vendors who might otherwise be hesitant to participate in a new market. The City of Wildwood may also decide it is preferable to have the market run by the city in which case they will need to hire a market manager. Cash flow scenarios have been written for non-profit and a government run market with a 1 day versus a 3 day market as a variable.
Cash Flow Scenario with three day market run by non-profit. March 1 April 7 Costs: $600 for advertisements (banners, web site), $250 to print vendor solicitation packets, $100 for licenses and permits, $50 flyers and press packets. April 7 June 7 Income: 8 vendors @ $10 x 3 days = $240 weekly / $960 monthly Costs: $100 for marketing June 14 October 6 Income: 10 vendors @ 10 x 3 days = 300 weekly / $1200 monthly Costs: $100 monthly for marketing October 13 April 6 Income: 12 Vendors @ $10 (or 8 vendors @ $15) x 3 days = 360 weekly/ $1440 monthly. Costs: $100 for marketing. Food Festival Costs $300 Food Festival Income: 10 competitors @ $10 = $100
Cash Flow Scenario with employee paid $12 hourly with 3 day Market and Food Festival March 1 April 7: Negative Income of $2,920 Costs: $600 for advertisements (banners, web site), $250 to print vendor solicitation packets, $100 for licenses and permits, $50 flyers and press packets. Payroll (12 hr x 40hrs) = $480 Weekly/ $1920 April 7 June 7: Negative Income of $1,060 monthly. Total for 2 months is $2,120 Income: 8 vendors @ $10 x 3 days = $240 weekly / $960 monthly Costs: Payroll ($12 hr x 40 hrs) = $480 Weekly/$1920 monthly (+ $100 for marketing) for Total of $2,020 monthly June 14 October 6: Negative Income of $820 monthly. Total for 3 months is $2,460. Income: 10 vendors @ 10 x 3 days = 300 weekly / $1200 monthly Costs: Payroll ($12 hr X 40 hrs) = $480 weekly / $1920 monthly (+ $100 for marketing) for Total of $2,020 monthly October 13 April 6: Negative Income of $780. Total for 6 months is $4,680. Income: 12 Vendors @ $10 (or 8 vendors @ $15) x 3 days = 360 weekly/ $1440 monthly. Costs: Payroll ($12 hr x 40 hrs) = $480 weekly / $1,920 monthly (+ $100 for marketing) for Total of $2,020 monthly. Food Festival Costs $300 monthly Food Festival Income: 10 competitors @ 10 = $100 monthly Food Festival profit for first 6 months = $1,200
Annual Gross Revenue = $14,160 Annual Cost of Operation = $26,340 Annual Profit = - $12,180
To re-coup the $12,180 costs by the end of the second year the market will need to make $3235 monthly. This can be done by 1) charging 18 vendors $15 for Wednesday, Saturday and Sunday Market. Under this model the market will have a profit of over $12,000 in the third year of operation.
Cash Flow Scenario 3 with employee paid $12 hourly and Sunday Market and no Food Festival March 1 April 7: Negative Income of $662 Costs: $200 for advertisements (banner, web site), $5 to print vendor solicitation packets, $100 for licenses and permits, $5 flyers. Payroll (11 hr x 8hrs) = $ 88 Weekly/ $352 monthly April 7 June 7: Negative Income of $258 monthly. Total for 2 months is - $516 Income: 8 vendors @ $10 = $80 weekly / $320 monthly Costs: Payroll ($12 hr x 11 hrs) = $132 Weekly/$528 monthly (+ $50 for marketing) for Total of $578 monthly June 14 October 6: Negative Income of $178 monthly. Total for 3 months is - $534. Income: 10 vendors @ $10 = $100 weekly / $400 monthly Costs: Payroll ($12 hr x 11 hrs) = $132 weekly / $528 monthly (+ $50 for marketing) for Total of $578 monthly October 13 April 6: Negative Income of $98. Total for 6 months is - $588 Income: 12 Vendors @ $10 (or 8 vendors @ $15) = 120 weekly/ $480 monthly. Costs: Payroll ($12 hr x 11 hrs) = $132 weekly / $528 monthly ($50 for marketing) for Total of $578 monthly.
Annual Gross Revenue = $4,720 Annual Cost of Operation = $7,020 Annual Profit = - $2300
To re-coup the $2,300 costs by the end of the second year the market will need to make $770 monthly. This can be done by charging 13 vendors $15 for Sunday Market. Under this model the market will have a profit of over $2,000 in the third year of operation.
Food Festivals
A great way to expand the Market and generate publicity is to hold food festivals. Food festivals are enormously popular and draw crowds from distances. They also appeal to foodies, locavores, chefs, and passionate home cooks. Festivals also inspire children to get to know more about food they eat. The goal of the food festival is to increase traffic to the Market, educate the community about local food preparation, promote central Floridas farmers and artisans, and draw passionate foodies to participate in the community. Contestants would be charge $10 to participate in the recipe competition. Initially it is assumed that for the first 6 months 10 contestants will partake in Food Festival. It is hoped that the additional food traffic will make up for the loss incurred by food festival. Costs would include $100 to print banners, $100 for childrens activities, and $100 for prize for winning recipe. Monthly costs would be $200 An example of a food festival schedule is: January- Basil & Herb Fest; February- Strawberry Fest; March- Fennel Fest; April- Food Truck Fest ; May- Blueberry Fest; June- BBQ Fest; July- Watermelon Fest; August- Citrus Fest; September:- Florida Wine and Cheese Fest; October- Local Beer & Wings Recipe Festival November: Garlic Festival; December: Peanuts and Pecans Festival