| Starting a new Business |
DESCRIBE YOUR BUSINESS
Be prepared to describe your business in terms of its products and target
customers.
Be as detailed as necessary (proposed menu or list of products in one category)
to make it clear how your business is different from any other in the Market.
Remember, the Market is a “diverse marketplace”. Accordingly, our offerings to
the public should be diverse, as well. On the other hand, you need to know your
customers.
LOCATION, LOCATION, LOCATION!
You know the rule of retail. At Lexington Market, you should choose one or two
locations from those available. This will help Market management understand
more about your plans. It will also help us determine the square footage to
attach to your proposed business.
UNDERSTAND THE ECONOMICS
Base rent for stalls is developed on:
Other monthly expenses include electric, water, liability insurance, promotion,
distributed costs for steam, air conditioning and common area maintenance.
Stall remodeling may cost several thousand dollars. Exhaust systems, required
for prepared food, are estimated at $20,000 to $30,000.
IS THIS MONEY AVAILABLE TO YOU?
UNDERSTAND YOUR OPERATION
******************************************************************************************************************
Once you have thought through these things, you have a good basis for a plan
to present to Lexington Market, Inc., the landlord of the Market.
Interested entrepreneurs please call 410-685-6169 or email us at
leasing@lexingtonmarket.com
TO DOWNLOAD A BUSINESS APPLICATION
Be prepared to describe your business in terms of its products and target
customers.
Be as detailed as necessary (proposed menu or list of products in one category)
to make it clear how your business is different from any other in the Market.
Remember, the Market is a “diverse marketplace”. Accordingly, our offerings to
the public should be diverse, as well. On the other hand, you need to know your
customers.
- Who will buy your products?
- Are there enough customers in the area to support your business?
- What do your customers need or want? How do you know
- How much are they willing or able to pay? How do you know?
- Is the demand for your product likely to increase or decrease in the near
future? - How many customers a month do you need to succeed?
- Will your menu or products have a year-round appeal?
LOCATION, LOCATION, LOCATION!
You know the rule of retail. At Lexington Market, you should choose one or two
locations from those available. This will help Market management understand
more about your plans. It will also help us determine the square footage to
attach to your proposed business.
UNDERSTAND THE ECONOMICS
Base rent for stalls is developed on:
- The basis of the category of product items: Staples (fresh meat, fish,
poultry and produce); Specialty foods (baked goods, candy, ice cream,
peanuts, etc.); and Prepared foods (cooked fast food). - Square footage (ranging from 180 square feet to 400 square feet.
- Location within the Market relative to foot traffic, visibility, other
businesses.
Other monthly expenses include electric, water, liability insurance, promotion,
distributed costs for steam, air conditioning and common area maintenance.
Stall remodeling may cost several thousand dollars. Exhaust systems, required
for prepared food, are estimated at $20,000 to $30,000.
IS THIS MONEY AVAILABLE TO YOU?
UNDERSTAND YOUR OPERATION
- The Market requires you to be open during regular Market hours:
- Will you have people available to open and close on time, cover time off,
do maintenance and cleaning.? - Will you need storage space? The Market has a limited supply of storage
space, attached to specific stalls. - Do you know who your suppliers of inventory may be? Do you know the
costs of your start-up inventory? - What equipment will you need? Can you afford the cost of all the
equipment? Most of the time, the Market only leases the space to you.
No equipment is included.
******************************************************************************************************************
Once you have thought through these things, you have a good basis for a plan
to present to Lexington Market, Inc., the landlord of the Market.
Interested entrepreneurs please call 410-685-6169 or email us at
leasing@lexingtonmarket.com
TO DOWNLOAD A BUSINESS APPLICATION
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| |
 |
| Monday -Saturday 8:30 am to 6 pm 400 W. Lexington Street Baltimore, MD 21201 Ph: 410-685-6169 info@lexingtonmarket.com |
