Mainstreet Pahoa Marketing & Business Plan 1997

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of the farmers market vendor stalls and applied primarily to pay the lease rent to the county, and secondarily for marketing and promotion of the Pahoa Village Farmers Market and Village Park. It will focus on locally made products and developing arrangements with tour bus businesses to schedule rest stops at Pahoa Village Park and with other travel outlets to disseminate information what is available at the Village Park for visitors. The availability of an array of refreshments ranging from bottled cold drinks, to fresh produce, e.g., slices of chilled local fruit, locally produced art work and handcrafts and other souvenir gift items reflecting local history and cultural crafts. The present weekly Farmers Market has anywhere from 10 to 20 vendor spaces set up under temporary tents in the Akebono Theater parking lot fronting the main road of Pahoa Village. The spaces are approximately 8' x 10' and each vender pays $10 for the day to sell farm produce and hand made crafts. Income stream from a 1x week activity utilizing an average of 15 stalls per week at $10 each would be $150 /week. Using this as a base, an annual income to the manager of the vendor spaces for the County of Hawaii, could be $7,200 a year for a 1x week operation. When expanded to a 7 day week optimum, particularly if a tour group stopped once each day, averaging 15 stalls a day, on a per annum basis the revenue stream would be $50,400. �• However, taking an average between the optimum and a lxweek activity, using a 3.5 ratio, the annual average income would be based on $525 /week or $27,300. An even more conservative estimate could be based on 10 vendors average rather than 15, creating a base of $100/day on a 3.5 da ratio over one ear would yield $350 /week or $18,200. A range y y of revenue could be postulated of conservatively between $18,200 to $50,400 per year with $27,300 as the median. This would be based on MSPA leasing approximately 5000 sq. ft. within the county park complex for a Farmers Market style daily operation. As an example, the Hilo Farmers Market is one of the most successful "farmers market" activity statewide. It is comprised of some 30 different vendors space. It is operated by the landowner two days a week, Wednesdays and Saturdays all day on each day and houses anywhere from 20 -30 vendors in an approximately 5,000 sq.ft. area. Vendors are assessed on a per -day basis. A 5'x 5' stall is assessed $7 on Wednesdays and $8 on Saturdays, for a total of $15/week. 5'x 10' area is $11 or $20 /week and $35 or $70 /week for 30 linear feet in a center area. Major expenditures would be the lease rent to the county and management fees for the operation of the farmers market vending area. The lease rent is estimated for operational purposes to be $50 /year. A similar model is the East Hawaii Culture Center which has a 20 year lease for the old Police Station building on county land located in old town Hilo for $1 /year. It is nonprofit organization for the promotion of culture and the arts, and the facility is used for art exhibits, workshops, classes, performances, concerts and a gift shop. A manager contract fee could be based on a 60/40 split of the vendor rental revenue, and would involve responsibility for the daily operation of the vending area, in terms of rental policies with tenants, record keeping, rental collections, reservations and stall assignments. 17