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🥦 In the Market for Markets - How to scope out the ideal vendor setup.

In this week's Baking it Down Podcast - Episode 204 - In the Market for Markets, Corrie wanted to talk about the 5 tips to help you source a strategic farmer's market (or recurring vendor event) relationship that bolsters that bottom line.

🥕 1. Is the market marketing itself?

Markets are businesses too - and as a marketing podcast, what would we be if we didn't say the ideal market is well... marketing. Markets live and die by the efforts of their organizers, so if the organization isn't promoting the event - guess what? Foot traffic won't follow. 

🕵️ Finding a market that's doing its job of marketing is a recipe for market success. While it'd be nice if all the vendors did their share of the marketing heavy lifting too (more on that later), finding a market that has social media profiles posted to and updated frequently, a website with all the info necessary for attendees to find their way, and event listings on Facebook and event listing websites are signals that market means business. And business = selling more bakes.

🥕  2. Do your "market" research

Research your potential market match before you sign any contracts. Not all markets are created equally, so understanding the implications of this seasonal relationship can make a sales difference if you get stuck with a low performer.

• 🤔 How long has the market been around? 
• 🤔 How often do you see it recommended when people in community groups ask for local market recs?
• 🤔 Is the market growing or shrinking?
• 🤔 Is there diversity in vendor types - think pickle booth, honey booth, etc.?

Using community groups to get these questions answered is a great way to get authentic feedback (and maybe market your

🥕  3. Question the organizers

Once we get outside feedback, it's time to go all in - by that we mean contact the organizers. Now - yes, the organizers are biased in their favor, so we need to keep the questions more "information gather-y" and less "how great are you-y" (we get it, they're great). Here are some ideas:

• 🤔  Can I get a list of vendors?
• 🤔  How much does it cost per week? Month? Season?
• 🤔  What are your weather policies?
• 🤔  What insurances do you require? 
• 🤔  Do I need to supply the table / tent / chairs?
• 🤔  Do you have a drop-in rate? 
• 🤔  What are your cancellation policies?

🥕  4. Contact past vendors

Contacting past vendors is another great way to get insider info. You might be able to source this by scrolling back through the farmer's market's social media posts from years ago, but another great way is by asking in community groups, "Has anyone been a vendor at the [Farmers Market]? I'd love to ask you a few questions!" Keep in mind, squeaky wheels tend to complain the loudest, so get a few different vendors to give you feedback - one that used to vendor there, one that still vendors there, and maybe one that is considering it. We'd ask them these more open-ended questions to get more authentic responses:

• 🤔  How do you feel about how the organizers manage the event?
• 🤔 How many years have you vended here? Do you plan on returning long-term?
• 🤔 What 2 factors bring you back here year after year?
• 🤔 If you could change one thing about this market, what would it be?

🥕  5. Prep for the market

Once you've found your perfect market match, it's time to really dig in. Treat this market like you would a cookie class - market the market.