A MONTH on from the sudden closure of one set of markets, another has sprung up to take its place.

The Toowoomba Indoor Markets will hold its grand opening on Saturday, August 10, at St Luke's Hall on Ruthven St.

The markets will fill a gap left by the closure of the Toowoomba Markets, which up until July were held at the Mills Precinct.

Toowoomba Indoor Markets organiser Jeremy Peachy said there would be more than 60 stalls at the opening, along with a jumping castle to keep the kids entertained.

The inaugural markets will raise money for youth mental health service headspace Toowoomba.

"A lot (of the vendors at the Mills Precinct) relied on the income (from the markets) to live," Mr Peachy said.

Mr Peachy said he and his partner were stallholders and also needed a place to sell their wares.

"So I thought let's start our own market up and help the community out. Every event will be raising funds for a different local Toowoomba charity," he said.

The Toowoomba Indoor Markets will run every second and fourth Saturday of the month from 8am to noon.

From October 26, the markets will switch times and become twilight markets, running from 4pm till 8pm.

Grand Opening will be opened at 8am by CR Geoff McDonald with a Ribbon Cutting