STARTUP Downtown Franklin is a program of the Downtown Franklin Association with funding provided by Franklin Southampton Economic Development, Inc., Community Business Launch and Wells Fargo Advisors of Downtown Franklin.
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 up to $40,000 in prize money never hurt anyone either. Join us for our very own Shark Tank type business plan competition on May 31, 2017, 5:00 p.m., at the Franklin Business Center.
The program winners must agree to be in business and open a storefront in Downtown Franklin by September 30, 2017 with all award monies spent by December 31, 2017.
Steps for Participant Selection
- Complete the online application or submit an application via US Mail, email or deliver it in person to the Franklin Business Center by February 1, 2017.
- Staff will review your application to determine if it satisfies minimum qualifications. You will then be notified if your business is eligible for consideration.
- Once chosen the participant must attend all six of the business courses on the Wednesdays listed below from 5:00 p.m. - 7:00 p.m. at the Franklin Business Center:
- Class #1 Simple Steps for Starting a Business Overview: February 8th
- Class #2 Innovation, Branding, Competition and Leadership: February 22nd
- Class #3 Accounting: Wednesday, March 8th
- Class #4 Finance and Credit: Wednesday, March 22nd
- Class #5 Sales and Marketing: Wednesday, April 5th
- Class #6 Business Planning: Wednesday, April 19th
- 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 May 17, 2017.
- All participants are required to present a 5-10 minute business pitch to a panel of judges on May 31, 2017 at the Franklin Business Center.
- Winners of the program will be announced at the Awards and Business Showcase event on June 14, 2017 at the Franklin Business Center.
It is MANDATORY that participants attend all events described above.
- The award monies can be used for operating expenses including equipment, rent, renovations, inventory and marketing.
- Award winners of any amount must open their business in the designated Downtown Franklin trade area by September 30, 2017.
- All award monies must be spent with appropriate documentation provided by December 31, 2017.
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
- Financial/funding needs
- Business pitch at Pitch Night