APPLICATION Detroit Grocery Incubator Grocery Leadership Fellowship

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1 APPLICATION Detroit Grocery Incubator Grocery Leadership Fellowship The Grocery Leadership Fellowship is designed to assist individuals develop their management skills and industry knowledge in order to move into the role of business owner in the grocery industry. The ultimate goal is to assist grocers to open high-quality, sustainable stores in Detroit neighborhoods. This application will help the Detroit Grocery Incubator select the most qualified participants for the fellowship. Please answer all questions completely. Please return a copy of your current resume with this application. I. Contact Information Name Street Address City State Zip Phone II. Demographic Information A. Date of Birth B. Gender Male C. Ethnic Background African American Caucasian Middle Eastern Other Female Asian Hispanic/Latino Native American D. Highest Level of Education High School/GED Some College Bachelors Degree Other Vocational Associates Degree Masters Degree or PhD 1

2 E. If you have a college degree, in what field of study did you attain this degree? F. Present Employment Status (Check all that apply) Full Time Part Time Self Employed Seasonal Employment Unemployed G. If you are currently working, what type of company employs you? H. Will you work/continue to work while pursuing your business? Yes No I. Have you attended entrepreneurship training before? If yes which training? III. Goals and Objectives We d like to know about your aspirations and why you would like to open a grocery store in a Detroit neighborhood. A. Why would you like to start a grocery store and what are your goals for yourself, your business and the community you will serve? 2

3 B. Describe your relevant experience including grocery industry, food retail, small business startup or operations. C. Describe your relevant experience serving low-income, diverse communities. D. Describe your P&L (profit and loss), budget and other management experience. 3

4 IV. Personal Business Readiness Survey personal readiness to start a business. This will A. Do you think you are ready to start a business? Y N B. Have you ever run a business before? Y N C. Would people that know you say you are well suited to be self-employed? Y N D. Do you have support for your business from family and friends? Y N E. Do you have a family member or relative who owns a business? Y N F. Have you worked in a family business? Y N G. Do you consider yourself a leader and self-starter? Y N H. Would other people consider you a leader? Y N I. Are you willing to invest a significant portion of your savings or net worth to get your business started? Y N J. Have you ever developed financial projections or profit/loss statements? Y N K. Do you have enough confidence in yourself and your abilities to sustain yourself in business, if or when things get tough? Y N L. Do you like to make your own decisions? Y N M. Do you solicit the feedback of other people when you make decisions? Y N N. Are you prepared, if needed, to temporarily lower your standard of living until your business is firmly established? Y N O. Do others turn to you for help in making decisions? Y N P. Are you willing to commit long hours to make your business work? Y N Q. Are you accustomed to working very long hours? Y N R. Would others consider you a team player? Y N S. Do you feel comfortable using computer technology (especially word processing and spreadsheets) in your business operations? Y N 4

5 V. Business Concept We would like to understand how much work you have already put into your grocery store concept. Your responses to the questions below will help us better understand you and your business. A. Please indicate the extent to which your grocery store concept is developed. Just starting to work on it I have a good concept but it needs further development It is fully developed B. Please describe your grocery store concept and the geographic area that you plan to serve. C. Do you have ideas for additional products, services or lines of businesses that complement your grocery store concept? 5

6 D. What are your profit expectations? E. Please indicate the extent to which your pricing strategy is developed. Just starting to work on it I have a good understanding but it needs further development It is fully developed F. How well do you understand your competitors? Just starting to work on competitive analysis I have a good understanding but need additional information I fully understand the competition in my target area G. Please name a few of your direct competitors. Describe how you will compete against them and what benefits your grocery concept offers over your competitors? 6

7 VI. Organization The questions in this section will help us to understand the structure and organization of your business. A. Have you assembled the expertise that you will need? Just starting to work on this I have partly assembled the right people but need to identify more. I have all the expertise identified and assembled. B. Briefly describe the role of other key leaders in your company (not including yourself). Please give relevant background related to their role in the development of the company. C. Please list the areas of expertise that you are currently missing. 7

8 D. Will you need to develop partner relationships with other businesses in order to carry out your business? No Yes, but I have not identified all of them yet Yes and they have been identified E. Please describe the relationships that you will need and which of those relationships are already in place. F. Do you understand the licensing requirements for operating a grocery store in Detroit? No Yes, but I have not identified all of them yet Yes and they have all been identified VII. Operations The questions in this section will help us to understand the operations of your business. A. Will you need funding from others to startup your grocery business? No Yes Don t know at this time If you answered yes, please indicate the amount you will need and the purpose of the funding. Also, indicate how you plan to raise the funds. (Please answer in box below). 8

9 B. How well developed is your estimate of your sales, costs and profits for the first 3 years of store operations? I am just starting to develop my financial forecast I have a good understanding of my financial forecast but it need development My financial forecast is fully developed C. Please provide an overview of your financial projections if available. (Attach separate documents if necessary.) 9

10 VIII. Customer Relations The questions in this section will help us understand how your business will build customer relations. A. A marketing strategy identifies how you will reach potential customers and build relationships with them. How well developed is your marketing strategy? I am just starting to develop my marketing strategy I have a good understanding of my marketing strategy but it needs development My marketing strategy is fully developed B. Please describe your marketing and sales strategy for capturing a significant market share of potential customers. C. What feedback have you received on your grocery store concept? 10

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