APPEAL VANCOUVER FLEA MARKET RENT INCREASE

On September 02, 2006 a memo addressed to the vendors of the Vancouver Flea Market announcing an increase in booth rental fees to commence on October 07, 2006. This is the second such rental fee increase for the year of 2006.

Since the departure of the Vancouver Flea Market’s former manager in January 2002, three mangers took over and the market has undergone many changes.

1) Introduction of the “Antque Show”
2) Advertising of the Vancouver Flea Market has diminished.
3) Rental Fees have unexplicably almost doubled.

The introduction of the “Antique Show” was a great way to bring more people into the Vancouver Flea Market. This, however, was a mixed blessing. The Antique Show comes complete with a segretation curtain to separate the “regular” area and the “show” area. There is, however, no separation at the admission gate as all venturing customers have to pay double the normal admission. This frightens off some customers, sometimes permanently. Regular customers avoid the market on antque show days forcing regular vendors to suffer. The Antque Show does bring in some new customers but for only around four days per year. For the other one hundred days of business the reserved section for the Antique Show remains virtually empty. If these tables are filled, management could increase yearly revenue by twentysix times.

The Vancouver Flea Market simply lacks advertising. Advertising brings in more customers, which increases the number of occupied booths. With the exception of the few advertisments for the Antique Show, there are little to none advertisments at this point. Pior to 2002, the Vancouver Flea Market was advertised on various television channels with a smart, professional commercial. The Antique Show itself suffers from lack of advertising. A number of the smaller flea markets in the lower mainland have been showcased on “the Antique’s Road Show “on the CBC. For example, the antique show on the north shore flea market has been showcased on Global TV News, CTV News and the CBC. The much larger historical Vancouver Flea Market has been left out.

Rental Fees have almost doubled in the last five years. Contrary to the reasons given for the increase, or lack thereof, cost of living, property taxes and other expenses, while they have gone up, have not increased by 190% as the increase implies. Rental Fees have forced many vendors to leave, and will cause many more to leave or reduce their booths. This will equal much less revenue for the Vancouver Flea Market’s Owners and Managers. The Vancouver Flea Market has many empty tables, with an entire section of empties reserved for the “antique show” which accounts for approximately only four showings yearly, whereas regular vendors are responsible for generating 104 days of revenue, plus holidays. A lower rental fee would certainly fill up those empty tables for more than just four days a year, resulting in 26 times the revenue generated by the Antique Show. Thereby increasing revenue for the owners and managers.

In the past five years vendor revenues have been steadily dropping and rental fees have all but doubled. In spite of raising fees, including admission fees, there has been a reduction in advertising of the market to little or none. In fact many people are unaware that the historical market exists or is even open for business. People from the lower mainland go all the way to the likes of Abottsford, when, ironically, the Vancouver Market is closer. We are looking for a win-win solution allowing the owners and managers to prosper along with the vendors.