Downtown Blacksburg Inc. has launched applications for a new retail incubator opening this fall and a free business planning workshop series in April, according to a press release on March 3.
“DBI has supported locally owned downtown businesses for over 40 years. This is a way to further that effort by creating great, ready-to-go, entrepreneurial neighbors for our existing downtown businesses,” said DBI Executive Director Tracie Hughes in a phone interview Friday.
New retail incubator will provide storefront space and business support
The new retail incubator, The Local @414, is a joint effort of DBI and the town of Blacksburg. The Local @414 is scheduled to open in fall at 414 N. Main St. and “will provide affordable store front space and hands-on business support in the heart of downtown,” according to DBI’s press release.
Tenant applications for space in The Local @414 are now open. According to Hughes, there are 10 spaces available: five storefronts and five wall spaces. The wall spaces allow entrepreneurs to display products such as jewelry and artwork, especially if they do not yet have enough product to fill a store.
The deadline for the first round of tenant applications is April 30. Hughes explained that applications will be reviewed by an advisory committee of eight to 10 local merchants, DBI board members and town residents. After this first round, businesses may apply for space on a rolling basis. Hughes said that spaces will become available when “tenants graduate.” She foresees that tenants will “be ready to step into a brick-and-mortar situation or decide that business isn’t right for them in three years, but leases can be extended on a case-by-case basis.”
The incubator is not limited to Blacksburg residents. Hughes said that people around the state have already expressed interest.
Free, four-week Business Planning Workshop Series supports entrepreneurs at every stage
The Business Planning Workshop Series is intended for “aspiring entrepreneurs, early-stage startups and existing Blacksburg businesses,” according to DBI’s press release.
The workshop series is divided into four two-hour sessions. The sessions will be held April 1, 8, 15 and 22 from 6-8 p.m. in the Community Room of the Blacksburg Police Department at 200 Clay St.
The sessions will be interactive and focus on creating a business plan; learning about operations, finance and marketing; perfecting a business pitch; and networking with other entrepreneurs.
The workshop series is free, and online registration is open. Hughes said that they have space for about 50 people on a first-come, first-served basis.
DBI and the town of Blacksburg are partnering with America’s Great Roanoke and New River Valley Small Business Development Center to provide the workshops.
Apply for one program or both
Hughes said that entrepreneurs can apply for tenant space in the retail incubator, register for the workshop series, or “take advantage of both.”
While the workshop series is open to all entrepreneurs, the tenant space applications are for retail entrepreneurs only.
Overall, according to the press release, the programs “reflect the shared commitment of DBI and the Town of Blacksburg to strengthening the local economy and enhancing the vitality of Downtown Blacksburg.”