The key term is “add significantly” because
there are plenty of hopefuls armed with product catalogues out of China, often
with no retail experience or knowledge of the Australian retail market, who
feel they should be part of our retail scene. The gutters are littered with
their failed businesses.
The classic model of market participation
usually involved a passionate, committed, person or partnership with a good
idea, the skill to push it through, and the willingness to sacrifice time and
lifestyle to achieve success. Most of todays successful market traders have
exhibited those qualities. Those who come here just to flog something, or who
lack the passion and commitment, can survive (often with alternative income
sources) but they add nothing to the overall mix of the market.
Getting the right sort of traders with the
right sorts of products is not easy and String Bean Alley is a good example of
the problem. String Bean Alley provides the variety and individuality that
customers crave in markets like ours. It is an excellent counter to the “Made
In China” model that exists in many markets around the world. But we are
struggling to find appropriate traders. UK markets experienced a similar
problem but they have applied a number of measures to fix it. They actively go
out and pursue prospective applicants, they offer rent free or rent-reduced
periods, assistance with setting up both in administration and facilities and they
recognise that some businesses are always going to be financially fragile. In
other words they are prepared to make concessions because the trader adds so
much to the look and feel of the market.
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