The program helps a diverse group of business owners with proven sales who are expanding beyond their home kitchens. These business owners need a commercial space to legally grow. HBK Incubates is committed to helping members get past the profitability and cash flow transition in the early years of their businesses so they can get off the ground.
In order to do this, HBK Incubates provides members with training to boost sales and access to market opportunities that support healthy business growth. While there have been fourteen graduates of the program since its inception in , one inspiring business is the Harlem Pie Man , a husband and wife team that sells pies and pastries on th Street in Harlem, New York.
When they outgrew their home kitchen, they applied to HBK Incubates and were accepted into the program. In addition to low-cost kitchen time, HBK Incubates has worked with the couple on best practices, has facilitated catering contracts, and more recently has made introductions to a major retailer for potential distribution. Monthly workshops were helpful for us, especially the workshop on catering. Workshops encouraged us to meet other members and introduced us to helpful resources like Accion.
HBK Incubates graduate Loliware is a company that produces a line of biodegradable and edible cups. Any culinary entrepreneurs in New York City can participate, but the program is designed especially for motivated food-based business owners who have outgrown their home kitchens.
These entrepreneurs are ready to formalize and expand their businesses. This part of the program offers a class curriculum, which is known as Fast Trac, which is customized to teach business owners best practices of food business operations and how to maximize profits. Others who graduate have the tools and resources necessary to apply on their own. To become a member of HBK Incubates, businesses must submit an application. Completed applications are accepted and reviewed year-round.
To request an application for the HBK Incubates program, please fill out the request form. You will receive an application electronically. Apply for a Loan. Business Incubators: Pros and Cons For fledgling businesses, joining a business incubator can be a big boost to stimulate business growth and promote success.
What is a Business Incubator? Incubator Benefits Based on the definition, you can already see some of the pros an incubator can provide to businesses to get a powerful start. Make sure to research potential incubators carefully to be sure they provide the following benefits: Your incubator should provide a free or low-cost workspace that allows you to reduce overhead while you grow. Look for an incubator that will give your business access to benefits that can help accelerate your business, including office space and services, mentorship, expertise, influence, and sometimes capital.
Incubators may also offer business development programming such as workshops and panel discussions. Make sure investors trust the incubator to invest in the right startups and groom them into successful businesses. Joining this type of incubator will give you an advantage when seeking funding. Businesses in some incubators might have access to office must-haves like internet, administrative support, and production equipment. Office services vary from program to program.
The structured environment and curriculum of an incubator can help a new business keep focus and grow in the right direction. Incubator Downsides Not all incubators are equal; some provide more or better benefits than others. Here are some potential downsides: The application process can be rigorous and competitive. For most incubators, an applicant is required to submit a detailed business plan and disclose all business activities.
Many incubators require a time commitment of around one to two years, plus adherence to the schedule set by the incubator, which can include many trainings and workshops. For better or worse, an incubator is a professional environment. Think of an incubator like a boss who is invested in your success. Incubator Curriculum Many incubators require rigorous training and have strict schedules.
Incubator Track Record How have similar businesses performed with the support of the incubator? Incubator Cost How much does it cost to use the workspace and the equipment? Incubator Location As previously mentioned, joining an incubator is not unlike joining a college program.
HBK Incubates Program Description If you want to sell food commercially, you must use a licensed commercial kitchen and have your own food business licensing. HBK Incubates Program Goals The program helps a diverse group of business owners with proven sales who are expanding beyond their home kitchens. HBK Incubates Success Stories While there have been fourteen graduates of the program since its inception in , one inspiring business is the Harlem Pie Man , a husband and wife team that sells pies and pastries on th Street in Harlem, New York.
There are over 1,, new businesses started every year. Strategic Incubator will provide all infrastructure services to incubated companies, including, insurance, accounting, tax, personnel services, recruiting and strategic alliance services.
Follow-on venture funding for those who reach their milestones and graduate to individual status Incubator Companies will have a strict schedule of milestones in order to remain part of the Strategic Incubator Process. Final 30 days to sign two major and three minor strategic partners.
This is not an offer or solicitation to sell securities, or interests in a limited partnership. Please see disclaimer on the Business Plan. Venture Planning Associates is not a primary venture capital source, but rather a consulting firm dedicated to assisting the entrepreneur in developing the best possible business plan and supporting documentation that will be required by potential funding sources.
Guide the formation, expansion or redirection of businesses. Research and feasibility studies to determine whether a given venture should be attempted. Preparation of business plans and other financial documentation powerful enough to obtain bank or venture capital financing, or joint venture or strategic partners. Valuation studies and projections, project evaluations for both pre- and post-investment analysis.
Negotiations and deal structuring, determining optimum debt and equity ratios, for financial plans. Packaging financial documentation as a marketing vehicle to obtain funding. Contracts and Additional Services Non-Disclosure: For projects involving proprietary information, we have a standard nondisclosure statement that may be used for any and all individuals or companies involved with your project.
In general, it will not be necessary to disclose such information except in the final stages of venture funding. Consulting Services: Specific service quotations and contracts will be developed and tailored directly to client needs. In general, a fixed price contract will be proposed for the project, or for each phase of the project.
Consulting to assist you with funding activities is conducted on a monthly retainer basis, plus expenses. Steps of the Venture Financing Process. Executive Summary THE MISSION The objective is to develop the resources and the infrastructure that are necessary to identify early stage opportunities, and then assist client companies in the process of commercialization.
The company believes that we can provide substantial long-term investment returns by accomplishing two complementary goals: Reducing financial risk by selecting the appropriate projects. Business Plan: Business Incubators.
Year 1. Year 2.