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Recalling the pandemic and social unrest of 2020, Carmen Dianne, co-founder of Prosperity Market, said, “The world was in turmoil. , it was really hard to see everything that was going on.. The lines at the grocery store were very long, and getting food was even more difficult than it used to be.
Diane and her friend Kara Still didn’t want to sit on the sidelines in the commotion, so they took action.
To address the economic instability and food insecurity facing black communities, the Los Angeles-based duo co-founded Prosperity Market. Prosperity Market is a mobile farmers market with black farmers, food producers, entrepreneurs, artists, florists and chefs.
At the time, neither Diane nor Still had any experience in the food industry. Diane made up he was an artist. He is still active as a fashion designer. However, entering the food space “with fresh eyes” was an advantage for the co-founders who were ready to question and challenge things from the outset.
entrepreneur We sat down with Dianne and Still to learn how they built the Prosperity Market while navigating an entirely new industry, and hear about the exciting initiatives they’re planning next.
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Black business owners have suffered the biggest loss of revenue during the Covid-19 pandemic.
Over 800,000 Los Angeles County households – nearly a quarter of all households – experienced food insecurity in the 12 months ending July 2022, up from 17% in 2021, according to a study released by the Public Exchange .
And a report from the US Small Business Administration found that black business owners suffered the biggest loss of revenue during the Covid-19 pandemic. Black business owners saw him lose between 11% and 28%, while white business owners saw him lose between 2% and 15%.
Diane and Still have come up with two approaches to tackle the problem of food insecurity and economic instability in the LA region. They bring healthy, affordable food directly to communities in need, partnering with black businesses and farmers to make it happen.
Our co-founders’ vision was clear from the beginning. They wanted to launch a mobile his trailer to bring the product to the local community. This was largely inspired by Dianne’s time working as a make-up her artist on sets where snacking her trailer was common.
But as newcomers to the food sector, they have to contend with the unknown along the way, and such an ambitious endeavor requires the kind of funding they will only get once they start proving themselves. They quickly realized something. That’s when they came up with the idea of a pop-up market.
The co-founders see the necessary pivot as a “blessing in disguise” as they have been able to familiarize themselves with the market, connect with vendors, and build relationships with various communities.
Image Credits: Courtesy of Thrive Markets
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“I didn’t mean to start this, so I didn’t have a business savings fund.”
In the first six months of coming up with the idea for Prosperity Market, the co-founders had to learn how to do everything from obtaining permits to raising funds.
“[Funding] “We didn’t have a business savings fund because we weren’t going to start this. So what it really looked like when we started was reaching out to friends and family.”
The first market will open in February 2021, and in preparation for the launch, Diane and Still have been prepping relentlessly, researching everything from farmers to food to economics.
Diane and Still also crafted an aesthetic that sets Prosperity Market apart from traditional farmers markets. “[Our creative backgrounds] It communicated the branding and the experience we wanted to create, and the themes, the continuity, and the way we showed up,” explains Still.
But one thing the co-founders didn’t expect? How hard would it be to find a black farmer?
“as if, Ok, we need more black owned businesses‘ says Diane.We Need Essentially Black Owned Businesses – We Find Black FarmersAnd we had a hard time doing that, and we had to learn the history of black farmers and why it happened. “
Image Credits: Courtesy of Thrive Markets
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“You can get hot food, do grocery shopping, and produce at the same time.”
The co-founders’ dedication, flexibility and creativity have helped Prosperity Market gain traction and achieve success.
As word of the Prosperity Market spread, friends and family continued to support Dianne and Still’s adventures. So did other fans. In 2022, the co-founders launched a crowdfunding campaign on the platform Fund Black Founders using grants from the JLH Social Impact Fund.
It was a huge success and we were able to raise enough money to finance the mobile trailer we dreamed of at the beginning of our trip.
“It was a very transformative experience for us,” says Diane. “It taught us a lot. Not for the faint of heart, but we did it. Mobile raised over $111,000 for his trailer.”
The highly anticipated trailer is 48 feet long and has a farmers market in the back with shelves set up like a produce aisle full of wares and a kitchen that Prosperity Market rents out to a variety of chefs and food entrepreneurs.
“So it’s a pop-up food truck all in one trailer,” says Dianne. “You can get hot food, do grocery shopping, and produce at the same time.”
Image Credits: Courtesy of Thrive Markets
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“It takes something to be able to pull yourself up every day, no matter how things are going.”
Looking to the exciting future of Prosperity Market, the co-founders see capacity as one of the biggest hurdles to overcome.
“We have every idea in the world,” says Diane. “There are so many things I want to do, but [we] You have to do it and you just need working capital. “
“Because everything takes time,” adds Still. “You write it down, you plan it, you strategize it, and [it takes] I have time to actually do it, but I always come up with something. A small team like this can only do so much at once. “
The road to Prosperity Market is full of twists and turns, teaching our co-founders the value of practicing perseverance every day in all aspects of life.
“It takes patience with that vision, patience with all the different types of people you work with, and patience with yourself because it’s not an easy process. There is no one but you, so you can lift yourself up every day, no matter what the circumstances.”
He also emphasized the importance of a strong support system.
“We have great mentors, advisors, and people to turn to when things get tough,” says Diane. “We have a supportive community of people who want to see us win. Without it, I’m not sure we would have continued this.”
The Prosperity Market will host its next market on Saturday, February 25, 2023, in its second anniversary at the California African American Museum. Its virtual market opens the week before the pop-up, giving you the opportunity to pre-order online and schedule pick-up at a marketplace or satellite location.
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