What is the Financial Value of a Market to a Community?
The two questions that I am most often asked are:
- How many people come to River & Wren? and
- How much money do stall holders make at a River & Wren Market?
The first question I can't answer with an exact number. We don't charge an entry fee to River & Wren, so without putting people at each door to count our market visitors, I can only make an educated guess.
The second question is a bit tricky. As the market manager, it is none of my business how much money each stall holder makes at a market. I did however think that it would be useful to know roughly what value River & Wren brings to our local community.
Personally, I think River & Wren brings more than just a monetary benefit to our community, but I'll talk about that another time. Right now, I'm only referring to what the market brings financially to the town and district.
Last year I sent a survey to stall holders who attended one of our markets. I asked how much they made at the market. I was astounded to find that stall holders collectively made over $110,000!!!!
That's $110,000 that goes into the pockets of small local, generally home-based, businesses. The money most likely stays local. The money pays for the resources to make more products. The money helps towards the management of a household. The money pays for children's ballet lessons, music lessons, art lessons, sporting fees, school fees; all of which in turn supports other local businesses and community groups.
That's $110,000 that will mostly stay local to our town of Wagga Wagga and our Riverina district.
With six River & Wren markets a year, that's more than $660,000 that is generated back into our community.
As a handmade market in a regional and rural area, I'm thrilled that our community appreciates handmade. I'm so excited when I see such large crowds come to River & Wren to support our handmade, homemade and home grown businesses.
I love that I have the opportunity to manage a beautiful and inspiring market that allows small handmade businesses to showcase and sell their beautiful products.
There's a little quote that I love:
Thank you for supporting River & Wren and our little handmade community.
Thank you for supporting your own market community wherever you live.
Thank you for supporting the small home based businesses that trade at markets all over the world.
Our markets play an important role in small business and without your support, our markets cannot exist.