In order to create a strong and viable market in and for the our community we have decided to create the very first vendor owned and operated farmers market in Los Angeles. Silversun Farmers and Artisans market..."The Peoples Market" is now going to consist of a collective of no less than 10 vendor owners who shall share in the operating cost and responsibility of running our market. This vendor owner group will meet regularly to vote on advertising, entertainment and other responsibilities together. Each vendor owner will be responsible for various committees that are commissioned to implement policy voted upon by the ownership group.
Typically, a market is owned by an individual, partnership, or corporate entity, i.e., a "market owner." Typically these market owners dictate policy and decide the fate of the vendors who sell their goods at the owners markets.
We are now putting the fate of this particular market directly into the hands of the vendors themselves.None of the current markets in place today have any programs in place to support the well being of their vendors. This being said we firmly believe that the time has arrived to unite and organize a business model in which the vendors serve their OWN interests as well as that of their customers.
The money that is being paid to market owners today could just as easily be kept in house for the collective ownership group to use for health insurance, day care, emergency relief and of course advertising and marketing. Additionally, state and national grants are given to owners to to build infrastructure but are often squandered. These grants could now be regulated and put to practical use in support of both the farmers and their immediate neighborhoods.
Under our proposed plan the market managers themselves would now answer to a the vendor ownership group who will collectively vote on different rotating positions such as manager, treasurer, etc. If any of our trusted servants are not doing their job or simply being a negative energy within the market then they can be voted out. Obviously we would start with what we have to work with NOW which would be our Wednesday evening market at eagle rock plaza. We could use this market to work out the kinks and patiently work through the growing pains that are sure to arise with this new sort of business platform.
Once we, as an ownership group have ironed out the policy and are secure in the foundation of collective ownership, we could then set our sights on opening other markets which would be operated in a similar manor. If you are a vendor who believes that this is a sound idea and would like to sign on as one of its founding owner members please let me know. This is going to be implemented immediately. No actual structure has been decided upon and nothing will until the potential vendor owners have let themselves be known.
We will have our weekly Counsel Dinner meetings after our respective markets every Sunday evening at Robert Gallagher's house.
Here is a proposed structure for our market vendors and customers to ponder:
The following example is based on 60 vendors paying 35.00 per single stall.
One Week:
35x60=2,100.00
The very first thing we would do is subtract operational costs from the total
Right now our total cost of all annual expenses is (6,000)
(6,000 Divided by 12 months = 500.00 Per Month)
(500.00 Divided by 4 weeks = 125.00 Per Week)
2,100.00 -125.00 (Expenses) = 1,975.00
Next we would deduct founders commission of 10% of NET after expenses.
1,975.00 - 197.50 (10% of 1,975.00) = 1,777.50
At this point that sum is divided.
Half of the money goes into vendor prudent reserve: 888.75 per week
Half of the money goes into Eagle Rock prudent reserve: 888,75 per week
After one month both Eagle Rock & vendors have 3,555.00 in each of their prudent reserves
After one year in operation the market has grossed 109,200.00 in sales
The expenses were 6,000.00
109,200.00 - 6000.00 = 103,200.00
103,200.00 - founders commission 10,270.00 = 92,930.00 remaining.
92,930.00 divided between Eagle Rock and Vendors is 46,465.00 each
That's enough to all have health insurance for everyone.
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