Monticello Bootcamp Program
The Monticello Bootcamp Program was started in Fall of 2015 as an effort to get business development into downtown Monticello. The program was loosely based off a similar program in Marion, Virginia, and developed to provide a snapshot to small business owners of integral parts in running a business- areas that aren't necessarily on the radar and often get overshadowed by the excitement of opening a business.
What happened was in fact a completely unexpected, but glorious result. Businesses did start up and locate in downtown, but only a few as a result of this program. More importantly, Monticello became a center for information for entrepreneurs in the region, and a place for small business owners and fans to network. A "sandbox" so to speak, for people with the common goal and desire to grow and thrive in their own small businesses. New in Fall of 2018, the grant opportunity has opened up to anyone interested in opening a business in the Monticello community.
About the Bootcamp Program...
Statistics show that most business growth in any community occurs in smaller businesses. Statistics also show that most business failures are a result of the lack of business planning. The Monticello Bootcamp program walks participants through individual components of business planning, with the idea of making smarter and stronger business owners. Some may get decide against starting their own business, and some may decide now isn't their time to open- that's ok. The idea is to create stronger and smarter businesses, and help individuals realize when they can pull the trigger on opening their dream. Where the business is located isn't important to the program- there's enough information to share!
The program runs in the spring and fall for five weeks. Classes meet from 6-9pm on Tuesday evenings at the Livingston Center, 224 E. Livingston Street, Monticello. Course books are provided, speakers are engaging, snacks are encouraged, and thoughts are provoked. Participants discover competition is a great thing, entrepreneurs are all different, and there is a huge network of people just like them to interact with. Classes are free for everyone and open to anyway.
The Bootcamp Grant
The purpose of this competition is to encourage the development and startup of businesses in our community. Individuals who demonstrate they are in the process of starting a new business in Monticello are eligible to apply for a grant of $5,000 as part of the Bootcamp program. The grant is a reimbursable grant that goes towards payments of rent/mortgage and/or utility bills for a storefront business. The grant is funded through many partners and individuals, and the City of Monticello. Applicants who meet the eligibility requirements may present their business plan to a panel of judges during the 5th week of the Bootcamp Program. The judges may recommend the grant to one of the applicants... or they may not.
Bootcamp Presentation Winners...
(Make sure you check out these local businesses- they are also on our bragging wall!)
-Fall, 2015- Samantha Koon, The Zybell House Bakery & Market
- Now open!
-Spring, 2016- Matt Miller, Monarch Brewing Company
-Fall, 2016- No grant winner recommended
-Spring, 2017- Susan & Jeff Ryan, Susie Lu's Cakes & Pastries (storefront coming soon!)
-Fall, 2017 - Rebekah & Andy Bradley, Sangamon Meat & Sausage Company (declined award)
-Spring, 2018 - Nicole Stewart, Hartfield Book Company (storefront coming soon!)
Any new qualifying 'for profit' business endeavor that is to be located in Monticello in a commercial location, and is new to the City of Monticello, is eligible to apply for the grant. A 'new business' is defined as one that will start up, or plans to start up within six (6) months from the date of the award. Additionally, someone who is interested in purchasing an existing business within downtown Monticello, but currently does not own an active business may apply for the grant. In order to be eligible to present, presenters must have attended all 4 weeks of Bootcamp, with presentation being on the 5th week.
While the business plans are due a week before presentations, the presentation should just be your elevator pitch to the judges on why you want to do what you are doing. Presentations should be (as close to) 10 minutes, visuals and props are recommended, and after the judges have asked questions, the class will participate.
Required information for business plan presentations...
Each application (which is actually a business plan) must contain at least the following information to allow the judges to adequately evaluate the plan:
-Market research into the feasibility of the product or service. This can be something as simple as the retail trade analysis (which we provide you), or a basic survey on competition and potential customers within the trade area.
-Capital start-up needs and cash flow projection- how much money do you need to get going, and how much will be coming in as a result of your efforts (be realistic).
-Management Team Profile, including experience. Who is running the show?
-Executive summary, including product or service description. What exactly are you going to be doing? (this is usually the hardest part!)
-Clarity, thoroughness and neatness of the submission. Make it organized, well thought-out and comprehendible.
-Number of individuals projected to be employed. Include yourself and others. Remember, part of the grant requirement is to have plans for 1.5 employees.
-Timeline for startup. Nothing happens overnight, and certainly things never go as planned. Be realistic and be reasonable.
-Marketing plan. How are you reaching your customers?
-Proposed ownership and/or legal structure of business. Is this a sole proprietorship? A partnership? A corporation?
-Principal location of the business in the City of Monticello. While you don't have to sign on the line for a lease before the grant competition, you should have a space in mind with knowledge about the operational costs within this space.