The Full Forward Business Competition in Florence, SC, is attracting successful business owners to open a second location or a new venture in the city’s downtown.
The contest, which launched in May, was publicized heavily via social media, along with mailings to business owners statewide.
One winning entry received $20,000 in cash for expenses related to opening a new retail location, including renovation, fixture purchase, inventory, and marketing. Additionally, a $30,000 Tenant Up-fit Grant was offered to help pay for electrical, plumbing, HVAC, floor covering, wall/ceiling improvements, permanent fixtures, lighting, and other qualifying building renovations.
Other assistance for the winner included a $500 signage grant, a $500 design grant, and a $300 credit toward the first year’s business license from the city, as well as special lease incentives offered by the selected property owner.
In return, the winner was required to execute at least a three-year lease at the property of their choice in the Downtown Florence Historic District, and to be open by November 1.
“We thought 15 or 20 applications would be great,” Bob Sager, a retail recruitment consultant for the Florence Downtown Development Corporation tells Downtown Idea Exchange. “We got 36 applications.”
In addition to the winner, Sager notes that three to five of the finalists are, “ultimately going to end up opening businesses down here.”
The complete interview with Sager and additional details on the Full Forward Business Contest appear in the January issue of Downtown Idea Exchange newsletter. Click to learn more about Downtown Idea Exchange and other resources for revitalizing downtowns and commercial corridors.