Retail Incubator

What is a Retail Incubator?

A retail incubator is a dedicated space that supports the launch and growth of retail businesses by providing entrepreneurs with hands-on opportunities to learn and apply retail skills. It serves as a nurturing environment for new, emerging, and established small business owners, offering resources and guidance during the critical start-up phase and supporting ongoing growth and sustainability planning. The goal is to equip business owners with the knowledge and tools to thrive in the competitive retail industry.

Retail Incubator Program Framework

Business Coaching, Mentoring, and Consulting

Tailored guidance to set entrepreneurs up for success

Capital Readiness Preparation

Assistance to accessing capital/funding resources

Networking and Community Engagement Hub

Facilities to engage within a vibrant entrepreneurial community

Local Training & Business Resource

Valuable resources for startup, launch, and sustainable growth phases of business

Retail & Tourism Market Research

Procurement and client-specific application of research

Prototyping and Manufacturing

Equipment and expertise to actualize ideas into products

Retail-Specific Technical Assistance

Includes display, design, pricing, supply chain; inventory; and operations logistics

Retail Space Assistance

Guidance and milestone planning for acquiring retail space upon graduation

Innovation and Design Thinking in Our Incubator and 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

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