The name Bakewell originates from 'Bad-kwell' meaning 'bath-spring'. Bakewell grew up around twelve mineral-water springs and there is evidence of settlement around these warm springs since at least the Iron Age. Most of these have now run dry but one still delivers warm water at 15°C (59°F). The lack of functioning wells does not prevent Bakewell from organising Well Dressing for five wells from the last Saturday in June.
Bakewell is the only market town in the National Park. The charter for its Monday market was granted in 1330, the third year of King Edward III's forty year reign. The market consists of both domestic stalls and a cattle market. There are many shops clustered around Bakewell's marketplace and a very good tourist information centre.