Happy 2024! I’ve been a bit quiet this year, with quite a bit taking place behind the scenes, but the progress of our season thus far only proves that my constant involvement is greatly over rated – our season is off to a record start, all due to the amazing efforts and coordination of a solid market team. My hat is off to Jake, Lauren, Sarah, Brandy and Melissa for their focused efforts.
When Melissa and I first took over the Market, which only consisted of the Chattanooga Market, the total vendor revenues for a given Sunday were in the mid-20s to 30s range; our goal was to hit sustainable 40s, which would result in a break-even operating model (at that time - inflation, insurance and related costs have definitely increased since then!). River Market, which struggled for years, posted sales of $47k on Saturday, and another $31k on Sunday – exceeding what the Chattanooga Market reported not so long ago. Truly outstanding; we appreciate the partnership with the TN Aquarium, our friends in the area who celebrate the return of River Market each Spring, and our quality vendors who thrive in this environment. A congrats to Jake for keeping things running smoothly, particularly as it’s largely a solo effort.
River Market this year has posted combined vendor sales of $146,550. If we dial back the WayBack Machine, the entire 2019 Season (pre-COVID) reported sales of $215k – there is a very good chance we will surpass that entire season this March. That’s an incredibly big deal, congrats to all involved with that market.
The Chattanooga Market at Erlanger was also a solid year-round market pre-COVID, but took a multi-year absence while the hospital and globe wrestled with social distancing, containment and prevention of the virus. The restart of Erlanger was not one of instant success - it’s been a rebuild, led by the enthusiastic efforts of Lauren. I’m happy to report that we are finally back on track, with Jan-Mar 2024 vendor sales running equal to 2019 momentum we had reached after years of prior work. Space is significantly constrained at Erlanger, so a lot of additional growth seems unlikely, but we are firmly back into the public minds and shopping habits with our mid-week market option. Congrats to Lauren and vendors who have invested in that rebuilding process!
For the 2024 Season thus far, we have reported vendor sales in excess of $185k - possibly our strongest start ever. Opening Weekend for the Chattanooga Market is pretty much filled, and May enrollment will go online for all markets on April 1. A hearty thank-you to Sarah for keeping those details neatly organized, smoothly scheduled and predictable. We are officially space-constrained at all of our markets, but our systems for enrollment create a fair and predictable system for everyone to be involved.
As you may know, we are the largest 501c3 non-profit market in the State of Tennessee - the only one in Chattanooga - and with that comes fiscal and legal responsibilities, including audits and external review. Brandy has led these efforts with our various auditors for over a decade now, with zero issues ever raised, which is a testament to the efforts and diligence we take in our operations. It takes pride in work, knowledge and hard effort to continually earn a clean audit. We’re fortunate to have someone who enjoys leading the Chattanooga Market so much on our team, and is also so skilled with keeping our accountings well-organized.
I look forward to seeing you all in about a month – Opening Weekend is just around the corner!
. Shows y’all’s hard work pays off. Great Job