Three Potential Businesses Could Be Opening in Downtown Madison
The Madison Main Street Program's Business Growth and Development Committee has narrowed its field of applicants to three finalists in the launch of the new Main Street Advantage business plan contest, a competition for a start-up and/or expanding enterprise that would like to locate downtown Madison.
According to committee chair Valecia Crisafulli, and project manager Margo Olson, six excellent proposals were submitted, and it was difficult for the committee to make the cut. But both emphasized that all six proposals were businesses the organization would like to see locate or expand downtown.
The committee has identified the final three as: Paperweight Entertainment, a business that appeals to the youth market; Madison Travel Company, a service business with a retail and event planning component; and Rivertown Rentals, a business that will cater primarily to tourists as well as residents.
Whitney Wyatt, Executive Director for the organization, said the Madison Main Street Program is very excited about the possibilities these business ventures represent for our community. "We are thrilled to see such creativity coming from people who have entered, as well as a wonderful enthusiasm to locate or grow a business in our downtown."
The award-winning business, to be announced in June, will receive a cash prize of $3,000, sponsored by the City of Madison and the Madison Main Street Program. The winner will also receive a range of in-kind services donated by contest sponsors, including advertising packages from local media outlets, a year’s complimentary membership in the Chamber of Commerce and Madison Main Street Program, legal consultation from a local law firm, payroll services from the Accounting Firm, social media support from Auxier Marketing, photography from Janie Mahoney, and business coaching from the Southeast Indiana Small Business Development Center.
The three finalists will be asked to submit a full business plan by May 25. Final selection will be made by an independent jury. The winning business is anticipated to open by mid-August 2016.