Experience Middlebury  Experience Middle

APPLICATION AND BUSINESS PLAN/PROJECTIONS SCORING CRITERIA

The Review Committee will score each application/business plan/projections on the following criteria and factors (note that these are  the minimally expected factors that applicants should address):

  • Quality of Business Plan: The business plan includes all required elements and the information is clear and concise.

  • Quality of Financial Projections: The financial projections cover 1-3 years, including all potential revenue sources, costs of goods sold, and expenses and the projections are reasonable (not underestimated or conflated) for the type of business proposed.

  • Project Viability and Sustainability: Start-up costs and operating costs are reasonable, detailed and clearly documented, with sector comparisons. The growth projections are reasonable. The sources of capital are documented, adequate, and include owner equity. The steps that have been taken or that will be taken to obtain capital are explained, including the status of financing.  The applicant has met with lenders and the applicant has an understanding of and verified down payment and debt service requirements and financing terms.  The applicant is aware of permitting or other impediments to start-up, has met with town officials, and/or the plan addresses the steps required to achieve start-up. The Business Plan and projections assure business sustainability.

  • Economic Diversity: The business idea and product/service add economic diversity to the Middlebury marketplace. The product or service fills a need identified for Middlebury and/or a product or service desired by Middlebury consumers. See the following: 2014 Muldrow Retail Report; Buxton Retail Leakage/Surplus Report; Middlebury Downtown Master Plan.  The product/service is not duplicative, redundant, or unduly competitive. If the product/service is not unique, evidence is provided to justify competition within the Middlebury marketplace.

  • Social Diversity: The principal, owner, or team and/or the business enhances Middlebury’s efforts toward racial equality, diversity, and inclusion.

  • Job Creation:  The business will create new direct jobs in Middlebury. A discussion of indirect job creation and relationships with, and impact on, other business in the area will enhance a business plan. But only direct jobs (part-time and full-time jobs created at the subject business) will be scored for this criteria.

  • Location: Applications from businesses planning to locate at any vacant property in Middlebury will be accepted, but applications for projects locating within the Middlebury Designated Downtown will score highest. 

  • Downtown Middlebury Impact: The business will attract residents and visitors to the downtown and provide them with an experiential opportunity. (Note: Link is to an example of experiential retail, but the concept can be applied to any product, service, or business). 

  • Match to Available Space:  The business can be matched to an available and appropriate space in Middlebury.