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. Land Markets Policy Investor confidence Success! Skills Partnerships Funding

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 old 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Dudley Market Opportunity for change • Market Place redevelopment • Staff circumstances Physical constraints • Outdated stall design • Limited facilities • Inflexible layout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? Traders • Contractual relationships • DMTL act as Market Manager • Stall rent & levy – one charge to traders DMTL Council Trader levy - DMTL Stall rent - Council 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 opinion! • Engage stakeholders early

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