Springboard to Success

“Expenses point of sale system 3,096 education 10 insurance 1,988 merchant account fees 1,221 office maintenance 17 bank charges 733 supplies 2,068 taxes and licenses 3,050 miscellaneous 548 cash over short 174 non-investment depreciation 1,254 total 14,159”

“Accounts receivable 190 242 depreciable assets 25,955 20,443 less accumulated depreciation 12,996 5,883 due from employee 9,230 34,992 total 22,379 49,794”

“Accounts payable and accrued expenses 29,869 27,130 payroll taxes payable 1,470 2,240 sales taxes payable 3,800 4,272 due to dmc 6,063 8,918 tenant security deposits 4,265 4,456 gift certificates 113 113”

“The corporation is organized exclusively for charitable and educational purposes to encourage economic development and job creation in the furtherance of community revitalization and the curbing of community deterioration. The corporation is organized to provide incubator settings in marketplaces that are blighted or underserved by retail stores. This is done in an effort to strengthen the retail sector by attracting new businesses while strengthening existing businesses, thereby increasing the availability of much-needed goods and services, and an expansion of local employment. In addition, the corporation will provide, within the incubator setting, an educational and supportive environment for start-up and expanding, early- stage, independently owned businesses in such blighted or underserved communities.”

“The organization aids in economic development by providing an educational and supportive environment for start-up and expanding, early stage, independent businesses. The organization helps transform the retail landscape in mobile, alabama's urban core. The retail incubator gives retailers the ability to understand the downtown shop owner's experience while enjoying professional support and guidance. The incubator offers the members the advantage of learning-by-doing while equipping tenants with the skills and knowledge to be independently successful. During 2016, thirty-two entrepreneurs were provided individual consultation by an outside business consultant. The tenants also had periodic focus groups lead by the consultant designed to provide information on various business topics, such as merchandising, marketing, security and finance. One occupant opened her first independent retail location. Springboard to success provided full time staffing, point of sale system reporting, telephone, high-speed internet access, as well as on-going, on-site management of the tenants. The retail incubator is located within the central business district where the entrepreneurs are trained to capitalize on daytime employment spending as well as special event opportunities unique to an urban location.”