Springboard to Success

“Merchant account fees 475 sales tax discounts 164 total 639”

“Expenses communcation & marketing 120 point of sale system 3,346 education and meetings 10 insurance 2,632 office maintenance 563 bank charges 89 supplies 3,292 taxes and licenses 427 miscellaneous 495 cash over short 81 non-investment depreciation 2,726 total 13,781”

“Accounts receivable 755 437 depreciable assets 24,849 24,849 less accumulated depreciation 9,173 11,899 total 16,431 13,387”

“Accounts payable and accrued expenses 15,429 24,343 payroll taxes payable 1,777 634 sales taxes payable 2,651 4,215 due to dmc 2,852 3,619 tenant security deposits 4,490 3,196 gift certificates 163 98”

“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 2014, 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.”