Lexington, KY - Creativity is often said to be more a matter of seeing a new use for something that already exists, rather than inventing something completely new. The Lexington Market is an example of this "adaptive reuse," transforming the former MRI building at 230 Martin Luther King Boulevard South into a small business beehive.
The building's owners, Mike Jackson and his two sisters, have found both an innovative use for the building and a creative way to enable people to start small businesses. Twenty five spaces of various sizes are available with one-year leases starting at $50 per month.
"We've made it so inexpensive that almost anyone who wants to have his or her own business can do it," Jackson said. With this collective model, "we would like to have any artists or entrepreneurs who are having trouble finding [affordable] space for themselves," he added.
The owners are flexible enough that a tenant can sublease to a group of very small business owners. Lexington Market will also bill each member of a group of artists for a portion of each month's rent plus a small fee.
Jackson expects to have a variety of small retail businesses, including clothing and arts, which appeal to women. Downtown workers and mothers of children at the daycare center at Calvary Baptist Church across the street are part of the expected customer base.
The caterer Sisters and Friends has leased a small space to sell prepared frozen meals, which will be a convenience for downtown workers. Jackson is looking for a baker for mornings. Another business can use the kitchen later to offer lunch in the cafe.
At least three jewelry makers will be among the art businesses at Lexington Market. Bling by Inkspot has taken a space to sell UK-themed and other clothing decorated with rhinestones.
Stressed shoppers will be able to get a massage at Lexington Market.
Jackson is reserving one room that is large enough for small groups of people. Instructors in yoga, tai chi, dance, and other activities can lease it for continuing classes or for a one time event.
The building's main hall will be an art gallery. Jackson plans to hold vendor fairs on Saturdays, to take advantage of visitors at downtown events and shoppers at Farmers' Market.
Lexington Market's collective model will have a central checkout for sales at all of its small business tenants. This convenience means that business owners who might have other jobs, travel frequently, or are students can still lease space to sell their art or products because they don't have to be there to wait on customers.
Another advantage for small business start ups is that Lexington Market will accept credit or debit cards. "Many times people who go into business for themselves for the first time don't have a way to take credit cards," Jackson said.
Jackson expects to have Lexington Market open before the end of October.
The best part of the project so far has been "seeing the excitement we've been able to generate. People come in and see the building and say, 'You've got me thinking about things," he said.
For more information about Lexington Market, call Mike Jackson at 859-533-4232.