Sam,Things are sure to be some diferent here in Central New York but here is what we did.
1. Put together a competent committee to plan festival for one year hence. The committee consisted of Chairperson, Site development(who eventually became head of parking), Program, Hospitality, Food and Vendors, Crafters, The Banker, Childrens activities, Advertisement. Thge trick is to get people who can rip each others hair out and still remain able to work together and still be friends.
2. Make sure that your day won't compete with the folk club from the next town over. I other words research the dates most carefully.
3. Do you have funding from a grants commision somewhere? If not try to find some.
4. What site do you have? Is it a barn or a park? Our where on the grounds of a county run museum and this worked because we had county grant money for the arts. Pick a good place with water, parking and shade, lots of shade.
5. Decide how gradiose you plan is. One day or two. One stage or more, simple or big.
6. Our shows were freebies. But admission is a good idea for many reasons not the least of which is solvency. We always had a craft fair with our shows. People would come just for the crafters and stay the day for the music. The crafters would pay for the space, $ 40.00 for 10'x10' and we could always count on 40 topend crafters to show.
The money from the crafters was a great boost to the coffers. It gave us the leaway to hire someone special everyyear.
We had the local volunteer fire department run a Chicken Barbecue on the site. They had a ready crowd and made money every year. We charged nothing for the ground and they took care of everything. Our only headache as trash removal. Make sure food vendors have the right licenses and meet the health codes.
Did the show last long, about 5 years. We were so successful doing it on the cheap that the county decided it could do one better with a boatload of money and scrwed it up so bad the show fold after the county ran it for 2 years.
Here is a thought on booking. Get on as many mailing lists and web sites as you can and plot who is playing where. A performer may be passing by your way to another gig and can fit you in for a better price cause in the neighborhood.
I'll close, others will have great ideas I'm sure.
Don