Market Ventures’ business planning activities include a variety of activities, including strategic marketing plans, redevelopment concepts, pro forma analysis, and impact assessment.
Rochester Public Market Renovation & Expansion Plan,
Rochester, NY (2011-2012)
The hugely popular Rochester Public Market, owned and operated by the City of Rochester, has been serving the citizens of upstate New York for over 100 years. Market Ventures joined a team of local architects and planners to re-imagine the Wintershed, an enclosed Market shed that was poorly designed and had physically deteriorated. MVI conducted extensive market research, helped design and lead a public involvement process, explored best practices at comparable facilities around the country, and developed a multi-phased series of recommendations to improve the facility. MVI also prepared an economic impact analysis that helped support the proposed public investment. Based on the project team’s recommendations, the City is moving forward with construction of new market facilities and expanding the Wintershed. The master plan received an American Planning Association Excellence Award for Best Practice in 2012.
Market Hall Financial Analysis, Eastern Market,
Detroit, Michigan (2008-2009)
Historic Eastern Market is one of the largest public market districts in the United States, attracting over 30,000 customers on a typical Saturday and serving farmers and food producers from throughout Southeastern Michigan and beyond. As part of its efforts to revitalize the Market, the recently formed Eastern Market Corporation is planning to enclose one of the shed structures into a year-round indoor market hall. Market Ventures, Inc. is helping to refine the concept for the Market Hall and conducting a thorough financial analysis of the plan, including individual vendor pro forma and operating statements for the new facility. MVI’s work includes outreach to food producers in the region to explore their interest in the concept.
Cultivating Community Business Plan,
Portland, Maine (2009-2010)
Market Ventures, Inc. led a business planning process for Cultivating Community, a nonprofit agency that couples organic, sustainable farming and gardening with high-impact youth and community development programs in order to reconnect people to natural systems and help feed the hungry. The business plan focused on diversifying the organization’s income streams by identifying earned income opportunities.
Lynchburg Community Market,
Lynchburg, Virginia (2005-2006)
Working with a local architect, Market Ventures, Inc. assisted the City of Lynchburg create a new development concept and plan for its historic indoor market, which suffered from low sales particularly on weekdays. Market research tasks included customer focus groups, competitive analysis, and trends analysis. Using its proprietary capture rate analysis, MVI determined primary and secondary trade areas and estimated demand for fresh and prepared food at the Market. With Hugh A. Boyd Architects, MVI created a redevelopment strategy with a new merchandising plan and tenant configuration. MVI also reviewed leases and operating guidelines and made recommendations to improve the operation of the facility, including the potential switch to nonprofit management.
Erie Street Market,
Toledo, Ohio (2003-2004)
The Erie Street Market opened in downtown Toledo in 1997 with great fanfare but with a poorly conceived design, too few vendors, and weak management. Six years later, the Market remained open with only a handful of vendors, few customers, and significant operating losses. The City of Toledo hired Market Ventures and Hugh A. Boyd Architects to reconceptualize and redesign Erie Street Market, develop a leasing strategy, and prepare recommendations for exterior improvements. Market Ventures developed a bold plan to move the food hall and redesign the entire complex, while adding new parking and outdoor vending spaces.
The Market at Atlas Park,
Glendale, New York (2005-2006)
Market Ventures, Inc. assisted a private developer create a new multi-vendor food market within an historic warehouse as part of New York City’s first lifestyle shopping center. The 20,000 sq. ft. brick structure features an open floor plan with original wooden columns and beams. The Market will serve the residents of central Queens with high quality and locally grown foods.
South Carolina State Farmers’ Market,
Columbia, South Carolina (2002-2003)
Concerned that the 50+ year old wholesale and retail South Carolina State Farmers’ Market might be relocated outside of the county, Richland County Government retained Market Ventures to analyze the impact of moving the $250 million farmers’ market to a new location, including impacts to the region’s farmers, wholesalers, customers, and employees. As part of its work, MVI created a design program for the relocated market with renewed emphasis on featuring South Carolina farm product and expanding the market’s retail potential, while maintaining the efficient movement of wholesale products.
Reading Terminal Market,
Philadelphia, Pennsylvania (1999-2000)
To address a changing customer base and nearby development pressure, Reading Terminal Market (established 1892), one of the largest and most diversified fresh food markets in the country, retained Market Ventures to prepare a strategic marketing strategy that would lead to effective, measurable results. The plan was based on a solid foundation of market research and analysis utilizing research methodologies created by Market Ventures and was developed with significant input from the merchant community. Each proposed marketing strategy was prioritized based on cost and impact, and were implemented by the client.
In 1991-1992, as principal of Public Market Partners, Ted Spitzer led a consulting team that created two plans for the historic Reading Terminal Market. The team prepared a merchandising plan for the entire 80,000 sq. ft. market hall, which contains more than 80 independent merchants, focusing on retaining fresh food sales to serve local consumers. In a second project, a concept plan was developed for the Reading Terminal Market Arcade, a vacant 15,000 sq. ft. space in the historic Headhouse Building, that would strengthen Reading Terminal Market’s main building and reinforce market activity within the district around the market hall.
Dallas Farmers’ Market,
Dallas, Texas (1997, 1991)
Faced with the redevelopment of the 100 acre district around the historic Dallas Farmers’ Market, the City of Dallas retained Public Market Partners in 1991 to help prepare a market analysis and master plan to revitalize the Market at its current location and position it to prosper with the upcoming changes to the area. Of particular importance was developing strategies for supporting the range of wholesale and retail food and floral businesses that surround the city-owned Market. In 1997, Market Ventures was hired to review potential changes to the new indoor market hall.