Springboard to Success

“Expenses communications & marketing 1,820 point of sale system 3,316 computer support 2,422 education 208 insurance 636 merchant account fees 862 office maintenance 451 bank charges 487 supplies 4,292 taxes and licenses 4,837 miscellaneous 805 cash over short 100 grilled cheese meltdown 1,693 non-investment depreciation 2,123 total 24,052”

“Accounts receivable 242 990 depreciable assets 20,443 20,788 less accumulated depreciation 5,883 8,006 due from employee 34,992 0 total 49,794 13,772”

“Accounts payable and accrued expenses 27,132 27,769 payroll taxes payable 2,240 1,411 sales taxes payable 4,272 4,440 due to dmc 8,918 198 tenant security deposits 4,456 7,484 gift certificates 113 0”

“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 2017, twenty-nine 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.”