Trader Operated Markets Rupert Dugdale Dudley Council Context - - PowerPoint PPT Presentation

Trader Operated Markets

Rupert Dugdale Dudley Council

Context

• Dudley Town Centre - Case study

in market failure

• Planning Policy fit
• Available resources
• Unique opportunities to be seized
• Partnership working

Regeneration...it’s in the stars.

Success! Land

Markets Investor confidence

Skills

Funding

Policy

Partnerships

Interventions & successes

• Dudley College

£60m

• Townscape Heritage initiative £4m
• Castle Hill £10m
• Dudley Market Place £7m

Castle Hill & Zoo

Castle Hill & Zoo

Castle Hill & Zoo

Townscape Heritage

Dudley College

Market Place

Market Place

Market Place

National Awards

“Judges were impressed with how the new-look town celebrates the history of the site. They also highlighted the work improving the

• ld buildings in the town, while

maintaining the historic feel, through the Townscape Heritage Initiative”

Dudley Market

• Traditional 6 day market with 74 stalls
• Market Charter granted in1268
• Retail decline mirrors that of the High

Street

• Traditional Local Authority managed
• Market and environs overdue for

investment

Dudley Market

Opportunity for change

• Market Place

redevelopment

• Staff circumstances

Physical constraints

• Outdated stall design
• Limited facilities
• Inflexible layout

Dudley Market

Searching for the Holy Grail!

Sweating the asset Support for local business

Dudley Market

Options appraisal

• Local Authority - ‘as now’
• Private - licensed by the local authority

under its market rights

• Trader - direct management by traders
• Partnership - strategic management by

the local authority but with the operational management outsourced

• Arm’s length - arm’s length organisation

takes a long lease for the operation of the market

• Social/Community enterprise - trading

entity based on ethical/ social benefit

• Voluntary sector
• Versus what actually happened...

Transfer arrangements

• Cabinet approval March 2015
• 12 Month pilot
• Negotiations with Traders reps
• Formation of Dudley Market Traders

Ltd

• Market transferred October 2015
• Formal contract between Council and

DMTL

Why do it this way?

• Nurture!
• Direct benefit to traders from a

successful market

• Sustainable model based on self-interest
• Reduced management costs for Council
• Fits ‘Love your Community’ and business

support ethos

• Captures traders’ expertise
• Cross-party support

How does it work?

• Contractual relationships
• DMTL act as Market Manager
• Stall rent & levy – one charge to

traders

Traders DMTL Council

Stall rent - Council Trader levy - DMTL High demand days Low demand days

How does it work?

• DMTL collect rent & levy as one charge

to traders

• DMTL retain levy and pass rent to

Council

• Levy pays for company running costs
• Shared investment in PR and marketing
• Stall rent & levy – one charge to traders
• KPIs in contract
• Stall occupancy target
• Stall rent income target
• Monthly operational meeting and review
• Formal Quarterly review
• 6 monthly report to Cabinet

Success or failure?

Achievements so far

• Increased occupancy targets exceeded
• Increased income to the Council
• New traders recruited
• Sunday markets undertaken
• Teenage market
• Small Business Saturday Market
• Town Centre events integrated with

specialist markets

• Cheapest market in the Black Country
• Good relationship between Council and

DMTL

Lessons learnt

• Positive approach to risk and

innovation – trust

• Don’t underestimate
• Ongoing officer time involved -

handholding

• Time taken to negotiate agreement
• Strong and positive desire of traders to

make it work

• Ability of traders to pull together
• Need for strong leadership and project

management – everyone has an

• pinion!
• Engage stakeholders early

Close

A definition of partnership ‘The temporary suspension of mutual loathing in pursuit of money?’