The Fair (formerly known as the 7EX Childrens' Fair) was originally the idea of Mrs Margo Parker with the intention of giving the children of Launceston and surrounds the opportunity of experiencing the excitement of such a fair and also to provide children with the opportunity to purchase gifts for family member at a very resonable price.;;The Fair was organised by a committee chaired by Dame Margo Parker with 7EX being the initial naming sponsor and later The Southern Cross became a major sponsor. The first fair was thought to be held in 1947 at Albert Hall. ;;The Fair Committee was wound up in 2004 and remaining money distributed to the remaining chairities - St John Ambulance, Ladies Glade, Special Olympics.