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.
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 email@example.com or call 757-562-1958 for more information about the program.
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 14, 2018.
- 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 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
- 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.
- 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.
- 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.
- 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.
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