Springboard to Success

“Expenses communcation & marketing 794 point of sale system 3,096 insurance 2,405 merchant account fees 62 office maintenance 516 bank charges 303 supplies 3,930 taxes and licenses 4,710 miscellaneous 562 other expense 642 non-investment depreciation 1,097 total 18,117”

“Accounts receivable 437 190 depreciable assets 24,849 25,955 less accumulated depreciation 11,899 12,996 unreconciled items 0 9,230 total 13,387 22,379”

“Accounts payable and accrued expenses 24,343 29,869 payroll taxes payable 634 1,470 sales taxes payable 4,215 3,800 due to dmc 3,619 6,063 tenant security deposits 3,196 4,265 gift certificates 98 113”

“The corporation is organized exclusively for charitable and educational purposes to encourage economic development and job creation in order to revitalize the community and combat community deterioration. In furtherance of such purpose, the corporation is organized and will be primarily operated to provide incubator settings in marketplaces and communities that are blighted or underserved by retail stores and/or food service providers in an effort to strengthen the retail sector by attracting new retail businesses, strengthening existing businesses, and helping to create new businesses, thereby increasing the availability of much-needed goods and services, and expand the local job base. In addition, the corporation will provide, within the incubator setting, an educational and supportive environment for start-up and expanding, early- stage, independent businesses in such blighted or underserved communities in order to increase competitiveness, productivity, and ultimate success of such businesses, create jobs accessible to local unemployed, underemployed, or disadvantaged residents, and ultimately revitalize the local economy.”

“The organization aids in economic development by providing an educational and supportive environment for start-up and expanding, early stage, independent businesses to succeed. The organization helps transform the retail landscape in mobile, alabama's urban core. The retail incubator provides retailers the ability to pilot the downtown shop owner experience and presents great advantages by equipping tenants with the skills and knowledge to be independently successful. During 2015, twenty-seven tenants were provided individual consultation once a month by an outside retail consultant. The tenants also had monthly focus groups lead by the consultant designed to provide information on various business topics, such as merchandising, marketing, security and finance. Springboard to success provided full time staffing, point of sale systems, telephone, internet, as well as on-site management to ensure the tenants reached their maximum potential. The retail incubator is located within the central business district where the entrepreneurs were trained to capitalize on the daytime employment spending. There are approximately 20,000 people who work daily, over 1,500 hotel rooms and approximately 38,000 residents that live within a 3 mile radius of the store. Springboard to success uses traffic generating events, such as bayfest, mardigras, artwalk and others, to capitalize on sales opportunities and to train the tenants to cater to the 2,000,000 visitors that come to mobile, alabama annually.”