Trader Selection Criteria

These criteria are to be read in conjunction with “Permitted Uses – Management Policy” ands “Permitted use Classes”. They will be taken into account when allocating stalls within the Market to both existing traders wishing to migrate to the new market and for new traders.

Each trader will be expected to demonstrate that he or she has the following attributes:

Business Development

• A clear vision for the future of their business and how it will contribute to the success of the Market.
• An outline business plan for the next five years including proposals to develop their business e.g. by expansion, diversification or specialisation.
• An awareness of current trends in retailing and the anticipated competition to their business.
• A clear strategy for buying stock and maintaining profitable trading margins.
• Additional proposals to create further value-added at the point of sale.
• Proposals to advertise and promote their business outside the Market.

Customer and product

• To specify the product lines to be sold and those they may wish to introduce in the future.
• An awareness of the importance of product quality and presentation and how it can be used to increase footfall.
• Proposals for staff training and development, and compliance with EU etc. legislation.
• An understanding of the Shoppers Charter and a willingness to implement additional Customer care policies.

Financial

• To demonstrate a good payments history, a willingness to pay by standing order and an understanding of the implications of VAT registration where appropriate.
• An awareness of changing shopping habits and the need to adopt matching service standards e.g. EFT, telephone and internet sales.
• An understanding of the need to plan for and reinvest in their business.