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A Retail Incubator Extraordinaire

A Retail Incubator Extraordinaire . Situation. A downtown retail environment that needed reenergizing A declining entrepreneurial merchant class An economy that kept aspiring retailers from committing to long term leases The expense of opening a start-up business was an obstacle . Solution.

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A Retail Incubator Extraordinaire

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  1. A Retail Incubator Extraordinaire

  2. Situation • A downtown retail environment that needed reenergizing • A declining entrepreneurial merchant class • An economy that kept aspiring retailers from committing to long term leases • The expense of opening a start-up business was an obstacle

  3. Solution An incubator setting that provides: • Fully renovated space • Full-time, six-day-a week staffing • Point of sale system • Sales tax reporting • Training with a retail consultant • Marketing assistance • Short term leases

  4. Process • Establish a non-profit entity to apply for grants • Locate and renovate space • Secure a retail consultant • Develop a brand • Recruit new and expanding retailers • Provide on-going education & training for tenants

  5. The space before and during renovation

  6. Renovations Complete - October 2011

  7. Early merchant mix

  8. The Urban Emporium five months after start up

  9. Media Coverage Local NBC affiliate coverage Press-Register, August 2011

  10. Media Coverage Zalea Magazine February 2012 Sense Magazine January 2012

  11. Testimonials “I always knew I wanted to be downtown, and the Emporium gave me the opportunity to do it sooner rather than later.” –Debra Carey, UE graduate “Because of this [program], I have been able to open Shonnese’ Boutique, which carries fine clothing in addition to the skincare and accessories that we carried at the Urban Emporium.” – LaTrynndaHollins, UE graduate “I applaud the Downtown Mobile Alliance for creating this new retail venture for the downtown community. If downtown is truly going to be a successful destination for tourists and residents, retail has got to be an integral part of the downtown experience.” – Bill Barrick, original UE tenant

  12. Outcome after 18 Months • Two retailers moved from internet sales only into the incubator • Two start up retailers moved from the incubator into independent storefronts • One start up is now several months into the incubator experience • Another start up has more than doubled her space, with a one-year plan to locate to an independent storefront • One start up discovered that retailing was not what he expected, and wisely decided not to pursue that career • Armed with Urban Emporium training, one current tenant was confident enough to open a second retail location after the office of her design consultation business was destroyed by a tornado

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