Lo’Kel-Li Vendor Market is making waves in the small business community by providing a much-needed platform for local entrepreneurs to sell their products. With New York being known for its high property taxes and expensive rental costs, small business owners like Laura Wolfe have struggled to find affordable spaces to showcase their products. However, Lo’Kel-Li Vendor Market is changing the game by offering a space for up to 50 small businesses in its two storefronts, all for one flat fee per month to cover rent and utilities.
The organization was founded by three women who saw the need for vendors to have a cost-effective way to sell their products. Lorraine Perez, one of the owners, emphasized the importance of supporting small businesses and helping them grow. With small business optimism at its lowest level since 2012, initiatives like Lo’Kel-Li Vendor Market are crucial in providing a supportive environment for entrepreneurs.
The vendors at the market have the freedom to come and go as they please, making 100% of their commission on sales. Perez and her co-founders even volunteer to staff and sell products for vendors when they can’t be present. This sense of community and support among the vendors has created a network of local businesses that help each other succeed.
As New York continues to face challenges with high property taxes and individual income tax rates, initiatives like Lo’Kel-Li Vendor Market are essential in alleviating some of the stressors that small business owners face. By providing a space for entrepreneurs to thrive and connect with customers, the market is not only boosting local businesses but also fostering a sense of community and support among small business owners.