Frequently Asked Questions

Q. Do I need to have a specific type of store in mind?

A. It would be helpful if you have given thought to the type of store you would like to open. In March 2008, we conducted a survey to determine which types of businesses would have the greatest chance of success in downtown Newton. This information is available from the Main Street Newton, Inc. office. However, we are open to all creative ideas!

Q. What is the real advantage to starting my business in the SPRINGBOARD SHOPPES?

A. First, the initial rents will be low, escalating over time, thus allowing you to get your feet on the ground. In addition, you will be in a highly supportive environment – you will not have to “go it alone.” You will receive professional training, will be able to interact with other people who are just starting out and you will be able to learn aspects of retail management that it takes some people years to learn. It is our goal to help make your business a success.

Q. Will I automatically become a tenant once I apply?

A. No. The Main Street Newton Program has developed a screening process that is designed to make sure that potential SPRINGBOARD tenants have an “entrepreneurial personality” and that they understand the realities of owning a retail store. In addition, we want to ensure that the business idea suggested has a good chance of success and that it will mesh well with the other SPRINGBOARD tenants and with the downtown business environment. We would also like businesses that will serve downtown Newton well over the long-haul. Of course, we are looking for businesses which compliment each other, which is in everyone’s best interest.

Q. If I am accepted as a tenant, what type of training will I receive?

A. You will receive an individualized work plan (IWP) based upon your current skills, and you will receive group training with the other SPRINGBOARD tenants. All training will take place on-site. You will also have the opportunity to access private meeting space and will have access to the Internet as well as a wide variety of business support materials. The Small Business Development Center, a non-profit organization dedicated to helping small businesses get off the ground, will play an active role in the training process. In addition, local service providers, such as attorneys and accountants, will be available to provide information, and successful and established retailers will be on hand to serve as mentors while you move toward your goal of opening your store. You will also find your fellow tenants to be exceptionally supportive, as you are “all in the same boat!”

Q. After the training—then what?

A. You will be expected to produce a business plan, just like any other potential business owner. The training will be designed to help you develop the business plan over time, so that by the time the training is finished, you should have a workable business plan. You will be asked to present your plan to a committee for review and input. You will receive assistance in business plan development every step of the way—from the Small Business Development Center, to service providers, to mentors and of course from Main Street Newton. However, you will have to make a firm commitment to produce a full, working business plan.

Q. How long will training take?

A. That depends on your level of commitment and motivation. However, in order for SPRINGBOARD SHOPPES to be successful, we need entrepreneurs willing to work hard to produce business plans and to seek out information that will lead to long-term success. It is our hope that in 90 days, you will be ready to open. In fact, we will encourage that.

Q. Will I receive training after I am open?

A. YES!  We will be developing an ongoing support system so that you will have a “safety net” as you open and begin to conduct business. You will be able to access information that will be customized for your business and will address specific issues that have arisen.

Q. Will I have my own store, or will I have just a table or display case like at a flea market or swap meet?

A. We want to replicate the retail environment as much as possible, plus we want to make the SPRINGBOARD SHOPPES as attractive as possible, so you will have an attractive, professional storefront within the SPRINGBOARD building. You and the other tenants will be expected to keep your store professionally merchandised and in order. This of course benefits all.

Q. Will I have to hire a number of employees?

A. Tenants can hire their own associates so they can get away from time to time. Your business plan will determine the number of employees you will require. However, we want to help you keep that number down in order to allow you to get “your feet on the ground” and concentrate on ongoing training and management. If there is enough interest, we will hire a roving assistant so tenants can schedule regular time away.

Q. Loans were mentioned as a possibility. Is that a given?

A. We are currently working with financial institutions and Main Street Newton to explore the possibility of below-market-rate loans in order to help jump-start the businesses within SPRINGBOARD. However, at this point that is not a guarantee. It is however, a very real possibility.

Q. How long can I stay in the SPRINGBOARD SHOPPES?

A. This is a retail incubator, so the concept is to develop retailers, allow them to learn the business, achieve success and then take a location elsewhere in downtown Newton. So we would expect that most tenants will stay two to three years. Over time rents will escalate as tenants find their footing. After the third year, the rents will increase significantly, providing an incentive for shop owners to find space elsewhere and allow a new tenant to come in behind them.