Somerset Pop Up Business Competition

SOMERSET POP UP BUSINESS COMPETITION

PARTICIPANT INFORMATION

REQUIREMENTS:

1. The Village of Somerset will award operating cash and other in-kind prizes, including free rent, and signage and façade improvements for the best business proposals. The decision of the judges is final.

2 Business plans will be evaluated at a presentation to a panel of judges utilizing several criteria, including completeness and quality of business plan, relationship to Village priorities, experience and skills of owner and key partners, assessment of the sustainability and success of the business and the quality of the presentation.

The proposed business must add to the visitation to the downtown and the increased success of surrounding businesses.

Prioritized business types include:

• Inns, hotels, bed and breakfasts

• Restaurants, coffee shops and other food and beverage service establishments

• Antique and gift shops

• Dry cleaner

• Art and Culture related businesses and galleries

• Clothing, shoes and other apparel

• Sporting goods

• Business supply and service establishments

• Local and value added agricultural products

• Technology and advanced manufacturing businesses

• Others as determined by the Committee

3. Attendance is required at six business development classes and the business plan competition. Owners may miss one class with prior notice if an appropriate person attends in their place.

4. Applications must be accompanied by a $10 fee of materials.

5. The sessions will take place on Tuesday evenings from 5:30 to 7pm at the Somerset Builder’s Club on Courthouse Square beginning Oct. 13, 2021. Course elements include:

• Introduction to the program and business plan components

• Credit, and financing

• Financial Management

• Legal, tax and insurance issues

• Marketing, advertising and customer development & relationships

• Social Media and Website skills and use

6. Prize money must be utilized for direct business expenses, to be disbursed on a reimbursement basis during the first six months of operation.

7. Businesses must be opened or expanded by April 1, 2022, be open to the public on an ongoing basis, at least five days a week and be located within one half mile of the Philip Sheridan statue.

8. Interested parties must submit an application in the format provided by October 10, 2021 with $10 fee. Approval for participation in the program will be provided by the judges, based upon type of business proposed and appropriateness of the proposed business idea.

9. Business Plans must be submitted to the Village by December 2021 to be eligible for prizes. Check in with Somerset Clerk's Office for exact date. 

Applications and Registration are available at:

Village of Somerset Clerk’s Office, 100 Public Square, Somerset, Ohio  Information: Contact Todd Christensen, christensent50@gmail.com or 276-274-7774