Retail Incubator

What is a Retail Incubator?

A retail incubator is a specialized type of business incubator designed to catalyze the process of starting and growing retail businesses by providing a place for highly motivated entrepreneurs to learn retail skills relatively quickly. Retail incubators nurture new, emerging, and established small business owners by helping them to survive during the critical start-up period and by assisting in continuous growth and sustainability planning.

Retail Incubator Program Framework

  • Business Coaching, Mentoring, and Consulting: Tailored guidance to set entrepreneurs up for success

  • Local Training & Business Resource: Valuable resources for startup, launch, and sustainable growth phases of business

  • Retail-Specific Technical Assistance: includes display, design, pricing, supply chain; inventory; and operations logistics

  • Capital Readiness Preparation: assistance to accessing capital/funding resources

  • Retail & Tourism Market Research: procurement and client-specific application of research

  • Retail Space Assistance: guidance and milestone planning for acquiring retail space upon graduation

  • Networking and Community Engagement Hub: Facilities to engage within a vibrant entrepreneurial community

  • Prototyping and Manufacturing: Equipment and expertise to actualize ideas into products

Innovation and Design Thinking in Our Makerspace

The Wheelhouse Makerspace Product Development Program is designed for the Retail Business Incubator Program participants to support product development for their retail business. The program is divided into 5 product development tracks. Within each track, there are several touchpoints with an expert for product design, development, and testing. Safety and equipment certifications for product development and prototyping are included on an as needed basis.

Ideation Lab

  1. Minimum Viable Product (MVP) Design

  2. Prototyping & Manufacturing

  3. Product Launch

  4. Post-Launch 

Makerspace Product Development Program

  • Idea Lab

    Identify viable idea

    Further market & trend research

    Develop product campaign

    Equipment safety and certification (as needed)

  • Minimum Viable Product Design

    Understand key assumptions/hypothesis

    Establish Target/desired outcome

    Build an MVP

    Measure progress toward target/desired outcome

    Success/failure/pivot/reassess/restart

    Initial product development and testing

  • Prototyping & Manufacturing

    Continue product prototyping and testing using campaign feedback

    Develop production processes and timelines

    Select manufacturers and negotiate contracts

    Manage inventory and supply chain logistics

  • Product Launch

    Analyze product campaign feedback and analytics

    Plan product launch and promotional materials

    Design product information and support materials

    Final product

  • Post-Launch

    Evaluate product performance and identify areas of improvement

    Collect and analyze customer feedback and sales data

    Develop plans for future product iterations or improvements

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