Food and retail businesses in Public Markets are different from standalone restaurants, grocery stores or retail stores. In this session, we’ll get into the details of how to design and adjust your menu, merchandise plan and space layout for Lexington Market. Additionally, the session will cover the steps you’ll need to take before applying and after acceptance to lay out, design, and build your stall – some on your own and some with our design team.
In this workshop we will discuss the importance of financial readiness to launch or expand a business, from proper planning to navigating financial institutions. Business finance includes reading financial statements and connecting the dots between your profit and loss, balance sheet and cash flow statements. If these documents point to a shortage of capital, business finance also provides the tools to plan strategies for bridging the gap.
The best market vendors don’t just rely on foot traffic, they build strong brands and customer loyalty to shine among the many options available to consumers. The workshop will cover the key concepts of brand building and small business marketing, from identifying your unique value and target customers, to learning to how to effectively present and market your business through a variety of channels.
Successful food ventures require you to think about your business holistically, from product selection and merchandising to how you engage with your stakeholders in building out your brand (from suppliers to customers). All of these factors are crucial in building out your stall concept for Lexington Market. We will also address the ways in which your business concept may need to shift due to the pandemic.