As a social enterprise, Good Market not only reports on financial sustainability, it also reports on public benefit. The below report is for April 1, 2015 to March 31, 2016.
Good Market started in 2012 with 32 vendors. By the end of March 2016, there were 301 Good Market approved vendors. Vendors have reported that being part of the Good Market community has enabled them to start outlets and restaurants, supply major retailers, secure new orders and trade partners, and identify export opportunities. Many Good Market vendors have established trade relationships with other vendors.
Good Market organized 69 vendor events between April 1st 2015 and March 31st 2016. On 2016 January 23rd, the Saturday Good Market expanded to a second city. The Galle Good Market is now open every Saturday from 10 to 6 in Court Square, Galle Fort. The Colombo Good Market happens every Saturday at the Colombo Racecourse. 20-30 vendors participate in Galle each week and 60-70 participate in Colombo.
In September 2015, Saturday Good Market vendors started anonymously submitting their weekly sales data. Based on self-reported data, vendors earn Rs. 13,000 per week on average. This ranges from no sales for vendors doing outreach campaigns to Rs. 120,000 per day for the most popular organic produce and food vendors. An estimated Rs. 1 million is earned by Good Market approved social enterprises and responsible businesses each Saturday.
The Good Market organic and natural food shop officially opened in August 2014 to expand services to customers and vendors. It has served as an incubator for organic farmers and suppliers of natural food, body, home and garden products. The venue has been used for tasting events, vendor workshops, educational programs, and meetings by volunteer groups and civil society organizations. The shop had products from more than 70 vendors in the past year and paid Rs. 26.6 million to Good Market social enterprises and responsible businesses.
The shop serves consumers by making organic and natural products more accessible. When surveyed, 57% of shop customers said they visit the shop weekly and 17% come more than 3 times a week. 88% of survey respondents said they are very likely to recommend Good Market to a friend. 53% rated the shop 10 out of 10.
Community Outreach and Education
Good Market has more than 93,000 followers on Facebook, more than 3,000 followers on Instagram, and more than 2,500 mailing list subscribers. In September 2015, Saturday Good Market volunteers started doing 10-minute customer counts every 2 hours at the event. According to this sampling, an estimated 1,500 to 3,000 people visit the Colombo Good Market every Saturday.
In the past year, Good Market has hosted public education programs on a wide range of topics including organic home gardening, climate change, deforestation, zero waste, consumer health, ayurvedic massage, disability awareness, suicide prevention, cross-cultural understanding, human elephant conflict, and animal welfare.
Good Market focuses on providing part-time employment opportunities to local students. Team members learn about social enterprise, consumer health, organic certification, and natural food, body, home, and garden products. To date, Good Market has trained 39 team members and alumni.
Organic Participatory Guarantee System
Good Market has served as an incubator for an organic participatory guarantee system that is run by volunteer technical leaders, producers, and consumers. The PGS Committee held an annual general meeting in December 2015 and reported the following results:
Good for People.