Day 21: Trading Location

Once you’ve nailed down your vision and pitch, it’s time to find somewhere to trade. There has never been more opportunity in London but all options carry elements of risk.⁣⁣
⁣⁣
Option A // Fixed-site operation⁣⁣ (hatch / kiosk / shop)
⁣⁣
Pros: One-time set up, minimal logistics, storage, security, regular trading hours, easy to find, professional image, comfortable working environment, existing utilities⁣⁣.
⁣⁣
Cons: Fixed rent liability, premiums, build costs, sole responsibility for marketing, limited manoeuvrability (if things don’t go well)⁣⁣.
⁣⁣
Option B // Mobile stall (public markets and events)⁣⁣
⁣⁣
Pros: Lower setup cost, no fixed rent liability (pay to trade), no premiums, 3rd party marketing, greater potential upside (with large events), flexible and agile.⁣⁣
⁣⁣
Cons: logistics (time and cost), equipment storage, constantly setting up and packing down, fixed-fee events can be high risk (due to weather), cost for utilities (sink, electrics etc.)⁣.

With limited start-up capital, full-time jobs and little appetite for risk, neither of these options seemed attractive. ⁣⁣Fortunately there was a third way available that brought together the best of both of these worlds – London’s private night-time markets.⁣⁣
⁣⁣
We sat down with the owners of @streetfeastldn and presented our vision and brand. Happy to say that they gave us the nod – see you at Model Market this summer.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s