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Tremont Storefront Incubator Returns!

Request for Proposals

2019 Tremont Storefront Incubator Program

 

Download the RFP Here

OBJECTIVE

Tremont West Development Corporation is initiating its 5th Small Business Incubator Program for a storefront space located at 2406 Professor Avenue in the heart of the retail district in the Tremont neighborhood.  Tremont West is beginning the search process for a 2019 participant. In previous years, the space was utilized for several Pop-Up Shops and four incubators. The integral part of the program is our partnership with the Hispanic Business Center. 

OPPORTUNITY

Tremont West Development Corporation is offering approximately 400 square feet of retail/office space in its storefront through a Request for Proposals. The proposals will be reviewed by a panel consisting of Tremont West staff members as well as local community stakeholders. Each proposal will be scored by the same criteria outlined in this RFP. The terms of the agreement will include:

  • Free rent for the first three months
  • Rent of $400/month for the following seven months
  • Rent includes all standard utilities as well as Internet connectivity through the TWDC Wi-Fi network (no telephone included)

· Additional extension of lease may be negotiable after the 10 month Program

 

Services from Hispanic Business Center include:

· Ongoing  business development training and support

· Accounting and record-keeping support 

· Growth plan and/or exit strategy post program

REQUIREMENTS

The applicant must be willing to begin operation by May 1st and continue operation through the expiration of the lease (10 month period). Additionally, hours of operation must be at least 5 days per week, no less than 25 hours.

 

Hispanic Business Center support for:

  • State registration, vendor's license and EIN obtained at time of application
  • Commitment to a minimum of monthly business development meetings with the Hispanic Business Center
  • Maintain accurate record-keeping of sales and expenses
  • Business development training

 

 It is the intention of Tremont West Development Corporation for the lessee to have an opportunity to operate a small business for a set period of time and determine the feasibility of the business operation in Tremont. At the end of the ten month lease term, it is the expectation that the lessee, if planning to continue operations, work with Tremont West Development Corporation to find a feasible location within the Tremont service area to continue services. Scoring will be based on the long-term viability of the business to provide services to the Tremont neighborhood and its patrons in the long-term.

The intention of the program is to add to the vitality of the neighborhood by providing opportunities to future small business owners to establish themselves within the neighborhood and then find a permanent location for their goods and services. Tremont West will not consider businesses in Cleveland with existing leases (unless compelling evidence can be given, with discretion given to the review panel) and/or businesses that are in current negotiations with property owners or real estate agents in Tremont.  

 

The Small Business Incubator Program will give priority to retailers and businesses that fill specific needs in the Tremont community that do not duplicate current businesses. 

 

Additionally, the storefront is not conducive to kitchen operations, bar operations, hair salons, or other businesses with high renovation needs. 

 

In order to respond to this Request for Proposals:

  1. Cover sheet with Name, Address, Phone, Email, Business Name, and Statement of Purpose of business
  2. No more than 3 page Business Plan to include: Business Description and Operating Plan including days and times
  3. Brief description of your financial resources
  4. References

 

Please send your proposal by hard copy or email with one attachment (Subject Line: Tremont Storefront Incubator Program) by April 1, 2019 to:

 

contact@tremontwest.org

 

OR

 

Tremont Storefront Incubator Program

Tremont West Development Corporation

2406 Professor Avenue

Cleveland, OH 44113


SCORING CRITERIA

Each Category Five Possible Points

Project Vision/Concept

Neighborhood Need

Neighborhood Impact

Business Experience

Business Plan

Financing

Complete Proposal