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 2021 participant. In previous years, the space was utilized for several Pop-Up Shops and five incubators. The integral part of the program is our partnership with the Hispanic Business Center.
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
The applicant must be willing to begin operation by August 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 the 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:
- Cover sheet with Name, Address, Phone, Email, Business Name, and Statement of Purpose of business
- No more than 3-page Business Plan to include: Business Description and Operating Plan including days and times
- Brief description of your financial resources
Please send your proposal by hard copy or email with one attachment (Subject Line: Tremont Storefront Incubator Program) by June 30, 2021, to:
Tremont Storefront Incubator Program
Tremont West Development Corporation
2406 Professor Avenue
Cleveland, OH 44113
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