Selection

4. Win Awards of Grants: May 09, 2018

Winners to be announced and grants to be awarded. The award monies can be used for operating expenses including equipment, rent, renovations, inventory and marketing. Those awarded grant money must agree to be in business and open a storefront in Downtown Franklin by September 30, 2018 with all award monies spent by December 01, 2018.

Franklin Businesses Photo by Brian Beachum
The program winners must agree to be in business and open a storefront in Downtown Franklin by September 30, 2018 with all award monies spent by December 01, 2018.
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3. Compete BUSINESS PITCH: May 02, 2018

Submit your business plan by April 25, 2018 then pitch your business plan to our panel of judges on May 02, 2018 for your chance to win $20,000 for first place, or $10,000 for second place to put towards your business!

You will be provided with all of the training and tools that you will need to develop your business plan. You will then pitch your business idea for Downtown Franklin to a panel of judges. $20,000 for first place or $10,000 for second place in prize money is available for distribution to the top and most successful pitches as determined by the judges.

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2. Learn Training Courses: March 07, 2018 - April 19, 2018

Over the course of several months, at no cost to you, we will be providing seven two-hour training courses to participants taught by Business Professionals. These courses cover topics that are key to successfully launching your own business venture and include:

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March 07, 2018
5:30pm to 7:30pm
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Simple Steps for Starting a Business Overview
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March 14, 2018
5:30pm to 7:30pm
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Innovation, Branding, Competition & Leadership
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March 21, 2018
5:30pm to 7:30pm
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Accounting
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March 28, 2018
5:30pm to 7:30pm
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Finance & Credit
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April 04, 2018
5:30pm to 7:30pm
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Sales & Marketing
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April 11, 2018
5:30pm to 7:30pm
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Business Planning
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April 19, 2018
5:30pm to 7:30pm
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Business Plan Working Session

You will be provided with all of the training and tools that you will need to develop your business plan. You will then pitch your business idea for Downtown Franklin to a panel of judges. $20,000 for first place or $10,000 for second place in prize money is available for distribution to the top and most successful pitches as determined by the judges.

Attendance at all seven courses is mandatory to be eligible to pitch your idea to the panel of judges and to win any prize money.

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1. Apply Registration Deadline: FEBRUARY 14, 2018

If you have ever thought about owning and operating your own business, but never quite had the motivation or impulse to pull the trigger… NOW is the time! STARTUP Downtown Franklin is the ideal program to get you started on the pathway to becoming your own boss with the opportunity to win $20,000 for first place or $10,000 for second place in prize money.

Those who wish to participate must complete our application form. You can apply conveniently online, by mail, or in person at the Franklin Business Center starting on January 01, 2018.

* Open to new or expanding businesses only. Governmental Agencies and Non-Profits DO NOT qualify.

descriptionDownload Application arrow_upwardStep 2: Learn

Download the Application to print, fill out, and submit by mail or in person to STARTUP Downtown Franklin, 601 N Mechanic Street, Franklin, Virginia 23851
or click here for directions and hours of operation.

About Startup Downtown Franklin

STARTUP Downtown Franklin is a partnership between the Downtown Franklin Association and Franklin Southampton Economic Development, Inc. with funding provided by Wells Fargo, BB&T, Bronco Federal Credit Union and Farmers Bank.

If you have ever thought about owning and operating your own business, but never quite had the motivation or impulse to pull the trigger… NOW is the time! STARTUP Downtown Franklin is the ideal program to get you started on the pathway to becoming your own boss, and the opportunity to win a grand prize of $20k and runner up prize of $10k never hurt anyone either. Join us for our very own business plan competition, at the Franklin Business Center.

Program Overview

The following is an outline of the steps that must be taken to be eligible for any amount of prize money from the STARTUP Downtown Franklin program. Also listed are the mandatory dates and deadlines of program events that all participants must attend. The minimum requirements outlined below must be met in order to qualify to participate in the program.

Please contact - Ashley Cotton via email at contact@startupdowntownfranklin.com or call 757-562-1958 for more information about the program.

Steps for Participant Selection

  1. Complete the online application or submit an application via US Mail, email or deliver it in person to the Franklin Business Center by February 14, 2018.
  2. Staff will review your application to determine if it satisfies minimum qualifications. You will then be notified if your business is eligible for consideration.
  3. Once chosen the participant must attend all seven of the business courses on the days listed below from 5:30 p.m. - 7:30 p.m. at the Franklin Business Center:
    • Class #1 Simple Steps for Starting a Business Overview: Wednesday, March 07
    • Class #2 Innovation, Branding, Competition and Leadership: Wednesday, March 14
    • Class #3 Accounting: Wednesday, March 21
    • Class #4 Finance and Credit: Wednesday, March 28
    • Class #5 Sales and Marketing: Wednesday, April 04
    • Class #6 Business Planning: Wednesday, April 11
    • Class #7 One-on-one Business Plan Working Session: Thursday, April 19
  4. At the conclusion of the business courses participants must submit a business plan via US Mail, email or deliver it in person to the Franklin Business Center by April 25, 2018.
  5. All participants are required to present a 5-10 minute business pitch to a panel of judges on May 02, 2018 at the Franklin Business Center.
  6. Winners of the program will be announced at the Awards and Business Showcase event on May 09, 2018 at the Franklin Business Center.

It is MANDATORY that participants attend all events listed above.

Award Guidelines

  • The award monies can be used for operating expenses including equipment, rent, renovations, inventory and marketing.
    • One grand prize winner will receive $20,000
    • One runner-up winner will receive $10,000
  • Award winners of any amount must open their business in the designated Downtown Franklin trade area by September 30, 2018.
  • All award monies must be spent with appropriate documentation provided by December 01, 2018.

Evaluation Criteria

Applicants will be evaluated on the following key criteria:

  • Overall business idea/concept
  • Local economic diversification/type of business
    • Retail and restaurant type businesses rank highest
  • Viability of business and potential for success
  • Potential for business growth and job creation
  • Marketing opportunity and approach
  • Quality of business plan
  • Management team
  • Timeline
  • Financial/funding needs
  • Business pitch at Pitch Night

Past Winners Announced: June 14, 2017

We are excited to announce our three winners!!! Franklin's Seafood and Steakhouse and Main Event were awarded $10,000 each and TaylorMade Fitness was awarded $20,000!!! We can't wait to see the success of each business in Downtown Franklin!

LaKenneth Kindred
LaKenneth Kindred
open_in_newTaylorMade Fitness
Awarded $20,000
Mike and Lauren Smith
Mike and Lauren Smith
open_in_newMain Event
Awarded $10,000
Winners of the First Startup Downtown Franklin.
funding partners
Picture of Downtown FranklinFranklin-Southampton Economic Development LogoWells Fargo Advisors LogoBB&T LogoBronco FCU LogoFarmers Bank Logo