WHAT
CAN THE
What you can and can’t expect from the
The Franklin Business Incubator can provide some very
valuable services to your company but, when all is said and done, if you
succeed it’ll be because you have the drive, talent, insight and luck to
do so.
What we can do:
♦ Help you question your assumptions and refine your business model: Every new business endeavor needs help
thinking through, and hopefully justifying, the fundamental assumptions that
underlie its business model. Every
entrepreneur needs someone to challenge him or her to find answers to difficult
questions.
♦ Help you get ready to seek capital: No new endeavor is prepared to
seek outside capital until they have their story properly articulated. You will need the proper written and
oral presentation tools in place before you begin your search.
♦ Help you plan where to look for capital: Most new endeavors use the
same approach to capital, i.e. write a business plan and send it to everyone
they have ever known in hopes that someone is “crazy” enough to
send them a check. You need to
develop a more focused approach, and we can help.
♦ Help you figure out your market: Some entrepreneurs know their
market from top to bottom. Most
just think they do. We can help you
get access to resources that will let you discover how much you really know,
and then where to learn the rest.
♦ Help you plan your business future: A business is more than just a
Business Plan, it’s management, staffing, marketing and sales, product
rollout, strategic alliances, contingency planning, and a few hundred other
things. We can’t do it for
you, but we can help you make sure you’ve thought through the key issues.
♦ Network, network, network: You need advisors, staff, investors,
service providers, advocates, customers, and friends. You won’t find any of them sitting
in your spare bedroom. Instead you need to get out and meet people, talk to the
Chamber of Commerce, attend educational opportunities and make yourself visible
in the community. This is where we can help.
♦ Help you set milestones and measure your progress: Franklin
Business Incubator establishes a series of milestones for each tenant
company. Incubator staff helps the
tenant establish action plans to reach these milestones and measures the
tenant’s progress and makes suggestions.
♦ Help you get training to succeed: Franklin Business Incubator
provides tenants with opportunities to learn the subtleties of
entrepreneurship. Individual
advice, group training sessions, and a library are all part of the Incubator
program.
What we can’t or won’t do:
♦ Fund your start-up: Franklin Business Incubator is not a venture capital fund,
Angel network, a slush fund, or a philanthropist. We do not have any money to lend or give
you.
♦ Find you funding: The Franklin Business Incubator is designed to
help you get ready to seek funding, but you will have to do the searching
yourself. We will help you design a
funding plan and we will introduce you to local and regional funding sources,
but it will always be your responsibility to decide how and where to seek the
funding that makes sense for your business.
♦ Write your Business Plan: A company’s business plan is the
founding document that reflects the management’s vision of the
future. We will provide guidance
and review, but you have to write your own plan.
♦ Do your books, write your agreements, recruit your staff, and run your
business: If you expect to become a real company, you will eventually have
to put in place the basic business processes that keep companies running
smoothly. You need to do it
eventually, so you might as well start now.
TENANT APPLICATON
I. General
Information
Business Name Taxpayer
I.D. #
Current Business Address
Telephone: (H)
(W)
E-mail Web site URL
Date Formed
Business Structure:
□ Individual/ Sole Proprietor □ Corporation □ LLC □ Partnership
□ Sub S Corp. □ Non-Profit Org.
Business License: □
Yes □
No Locality?
Principal Business Owner(s) [Use additional pages if
required]
Name Phone
Ownership
%
Address
City State Zip
Code
Name Phone
Ownership
%
Address
City State Zip
Code
Name Phone
Ownership
%
Address
City State Zip
Code
Is
business currently in operation?
____ Yes ____ No
If
yes, year business founded: ______
If
no, where are you employed?
Do
you have a business plan? Yes
(if yes, please attach)
No (If no, when
will one be complete?)
Do
you have general liability insurance coverage? Yes No
If
yes, name of company
II. Information
on Business Product/Service
Briefly describe your product or
service:
Briefly describe the market for your
product/service (your target customer):
In
what geographic areas are the majority of your customers located?
Who
are your competitors? (name
at least two)
Why
do you think you have a competitive advantage?
How
do you (or plan to) market and distribute your product or service?
Direct
Mail
Personal Contacts Made by Owner
Sales
Force
Publication Advertising
Describe your experience that
relates to your product/service and the length of that experience (attach
resume if available):
List the names and titles of any
other officers or key personnel (attach resumes if available):
IV. Business
Service Needs
Telecommunication
needs:
How many phone lines?
How many internet access
connections?
What types of support
services are you interested in?
Receptionist
Secretarial /Word Processing
Copier
Fax Machine
Mail Handling
Conference Room
Computer
Other
Do
you currently have an accountant?
Yes
No
Do
you currently have an attorney?
Yes
No
Do
you need management assistance?
Yes
No
If
yes, what type?
Do
you need marketing assistance?
Yes
No
If
yes, what type?
All tenants will be assigned a
three-member advisory board of local business professionals. What areas of expertise would you be
interested in having represented on your advisory committee?
V. Facility
Requirements
Are you currently occupying
a facility (either in your home or at a commercial location)?
Yes
No
If yes, what is your current square
footage?
Office:
_______Sq.Ft. Manufacturing:
_______ Sq.Ft.
What
is your approximate monthly cost for this facility?
Rent:
$
Utilities:
$
How many square feet of
space does your business require?
Office:
_______Sq.Ft. Manufacturing:
_______ Sq.Ft.
If you require manufacturing space,
please describe the machinery and equipment to be located on the premises and
what service support is needed to maintain this equipment (i.e., electric load,
venting, and cooling).
If
accepted as a tenant, when would you want to start occupancy in the facility?
How
many employees will be occupying the space?
Current 1
Year 2
Years 3
Years
Full-time
Part-time
Total
number of employees employed by your business?
VI. Other
How
did you learn about the Franklin Business Incubator?
How do you think your
participation in the Incubator will benefit your business?
VII. Business
Financial Information
Initial
Capitalization: (Check One)
□ Less than $10,000 □ $50,001 to $100,000
□ $10,001 to $25,000 □ $100,001 to $500,000
□ $25,001 to $50,000 □ Over $500,000
What
are your projections for total gross sales volume?
Year
1 $_____ Year
2 $_____ Year
3 $_____
What
is the amount and source of financing for operating your business?
A.
Existing
Loan(s) Amount
$_______________
B.
Cash/Equity Amount
$_______________
C.
Operating
Expenses are/will be covered by sales
D.
Other
Are you currently seeking
additional funding for your business?
Yes
No
If yes, please state funds needed: $