Retail franchise fair caters to city’s ‘renaissance’
Connecting entrepreneurs with opportunities
By Meliqueica Meadows
Of the St. Louis American
The mission of the St. Louis Development Corporation (SLDC) is to foster economic development and growth in the city of St. Louis. One of the ways the not-for-profit corporation accomplishes this task is through its annual Retail Franchise Fair. This year’s fair, held August 18 in Harris-Stowe State University’s Emerson Performing Arts Center, drew many potential entrepreneurs interested in getting their slice of the redevelopment pie.
“We’re trying to provide a connection between business opportunities and potential entrepreneurs,” SLDC Executive Director Rodney Crim said. “We’re realizing a renaissance here in St. Louis, and we want everyone to have an opportunity to participate.”
Dozens of businesses participated in the fair this year, including All State Insurance, 7 Eleven, Décor & You, CAN, Warm Spirit, Maui Waui Smoothies, World Financial Group and The UPS Store.
Ericca Willis, SLDC director of minority business development, worked hard to ensure that there would be a variety of opportunities available at the fair.
“It’s bigger than last year,” she said. “I exceeded my goal on franchisers, because we’re finally getting the word out.”
Participants at the fair had the chance to meet representatives from the franchise companies and learn the intricate details of buying and operating their own franchises.
“It enables an individual to look at different proven opportunities,” Willis said. “They walk in with automatic branding and can begin marketing their business. We partner with the franchisor, and it is a win for everyone involved.”
“It’s been really good, probably the best year,” Embroid Me operations advisor, Diane Smith, said of the Retail Franchise fair. She said that through the fair her company had obtained about 10 solid leads from individuals interested in purchasing a franchise.
“It keeps getting bigger and better,” Patrick Flynn, Embroid Me regional vice-president, said. “We’ll keep coming back.”
Willis was able to attract several new businesses to the fair, such as Warm Spirit, which specializes in beauty products, and telecommunications company ACN. Both booths were popular with attendees, particularly because of their low start-up costs.
“If you’re someone who doesn’t have $100,000 to start a franchise, but you’ve got the heart, in two to five years you can put yourself in a position to be very successful,” ACN representative George A. Robinson II said.
For less than $600, “you can get into the business in St. Louis, but you can build it across the U.S. and in 18 other countries,” ACN rep Tony Walker said.
Their pitch got the interest of one young man, who actually stumbled upon the fair while checking out the newly opened Rev. William Gillespie Residence Hall and Student Center at Harris-Stowe.
A senior business administration major at Harris-Stowe, John Johnson said he is currently trying to figure out his next move after graduation. He said starting his own business is definitely something he is considering.
“After I graduate, I want to have my own business,” he said. “I’m thinking about going into insurance and starting my own branch in the inner city. I’m just trying to go where the money is.”
This was also the first year for Warm Spirit, a direct sales company co-founded by an African-American woman that is based in New Hampshire. The company was named “Emerging Company of the Year” in the August 2006 issue of Black Enterprise.
“This is the first time we’ve been in this show,” Denice Roach of Warm Spirit said. “I’ve gotten a wonderful response, and I think it’s great that there’s a diversity among small and larger businesses.”
With the millions of dollars worth of economic development going on in and around the city of St. Louis, events like the Retail Franchise Fair are essential for attracting and maintaining talented entrepreneurs.
Willis said, “We want to increase business development in St. Louis.”
Crim added that to increase business development, SLDC must attract not only young talent but also more seasoned professionals as well.
“We gotta hit people at all different levels,” he said. “We also want to attract those individuals who’ve been working a while and possibly developed some managerial skills.”
That is why SLDC offers a myriad of services for new businesses, such as financing and technical assistance. SLDC administers the Missouri Enterprise Zone Commission in the city through the Land Clearance for Redevelopment Authority (LCRA), whose members double as the city’s Enterprise Zone Commission.
The Economic Development Corporation (EDC) was established in 1988. To improve efficiency of operations, the EDC was later consolidated and renamed the St. Louis Development Corporation in 1990.
For more information about the St. Louis Development Corporation, 1015 Locust St., Suite 1200, call (314) 622-3400 or visit http://stlouis.missouri.org/development/contact.html.
