Springboard to Success

“Expenses communications & marketing 620 point of sale system 3,336 education 35 insurance 1,989 office maintenance 448 bank charges 255 supplies 4,117 taxes and licenses 853 miscellaneous 21 cash over short -42 grilled cheese meltdown 2,810 barefoot ball 7,923 miscellaneous services 665 non-investment depreciation 2,123 total 25,153”

“Accounts receivable 990 140 depreciable assets 20,788 20,788 less accumulated depreciation 8,006 10,129 due from dma 0 1,987 total 13,772 12,786”

“Accounts payable and accrued expenses 27,768 29,456 deferred revenue 0 750 payroll taxes payable 1,411 1,884 sales taxes payable 4,440 5,526 tenant security deposits 7,484 7,553 gift certificates 0 0 due to dmc 198 80”

“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 2018, thirty- two entrepreneurs were provided an opportunity for individual consultation by an outside business consultant. Two established regional retailers joined the incubator as a vehicle for entre into the downtown marketplace. 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. 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.”