Business Plan (Condensed)
Business Description
TREC is a 509(a) (2) non-profit organization providing economic and community development support services to neighborhood-based for-profit and non-profit businesses and organizations in Rochester, New York. It is located at 4 Meigs Street in Rochester and operates in collaboration with other such organizations to improve the quality of life in city neighborhoods. It current focus is:
To facilitate economic development in city neighborhoods so that wherever TREC
is involved, neighborhoods become better places to live, shop, and work.
TRECís plan is to develop a working model in the Upper Monroe Neighborhood that, over time and building on its successes, can be expanded into other neighborhoods in the Rochester community.
To date, in this area it has been one of the primary sponsors for the Upper Monroe Design Charrette and the childrenís programs at the Corner Place. It has also provided leadership on the Culver Road study team and was instrumental in producing the design guidelines that resulted from the Design Charrette activities.
2 Market Description
TRECís initial market focus will be on for-profit businesses and commercial landlords located on Monroe Avenue in the area know as Upper Monroe. The area is roughly rectangular in shape and is bounded on the north by Interstate 490; on the west by Field Street; on the south by Highland Avenue; and on the east by Cobbís Hill Park.
Within this area there are 15 businesses, mostly on Monroe Avenue. These businesses include entities such as Park Avenue Pets, Jeremiahís Pub, Wilson Farms, Wild Ink Tattoo, and Montyís Krown.
In the same area, there are approximately 70 commercial properties owned by Asher 7 LLC, Western United Life Assurance, ADF Enterprises LLC, 112 Colony LLC, etc.
Based on the 2000 US Census, the characteristics of the neighborhood include:
- Population: approximately 3000
- English is spoken by approx. 90%
- Very little unemployment; approx. 50% work in management, a profession, or related occupation.
- Median household income: $41,413.
- Vast majority live in 1-unit detached; 2-units; or 3 to 4-units
- 73% of structures built 1939 or earlier; median unit has 5.4 rooms.
- 454 units are owner-occupied; 931 units are renter-occupied
- 67% renters as compared to 60% renters for Rochester as a whole.
3 Products & Services
Besides assistance provided directly by the programís Director, TRECís plan will be to provide access to business related support services using a pro-active, concierge model. Working through the Director, TREC will collaboratively link its customers (i.e., businesses and commercial landlords) to professionals and resources it has at its disposal.
Support will be provided in, but not be limited to:
- Human Resources
- Finance
- Information Technology
- Organizational Structure
- Business Planning
- Marketing
- Sales
- Grant Writing
- Facilities & Real Estate
Criteria for measuring the impact and success of TRECís efforts will be jointly developed with its customers, but will most likely involve sales and profit for the businesses and capital investment for the commercial properties.
4 Competition & Collaborative Partners
There are a myriad of State, County, City and private organizations offering similar services, but all have similar shortcomings ñ none are focused on any specific geographic area and they all operate in a relatively passive mode. TREC will be located in the Upper Monroe neighborhood and have this area as our only focus. In regards the other ìcompetingî organizations, TREC will determine which have specific resources they can contribute and then set up collaborative relationships with those particular groups.
5 Marketing Strategy
Given the limited number of our customers and physical proximity, the primary means of marketing will be face-to-face contact reinforced by having an office in the center of the neighborhood on Monroe Avenue. Secondary strategies will also be used and will include:
- a TREC website
- collateral print pieces
- external signage at the office
- referrals from our collaborative partners.
6 Management
TREC will be overseen by a ten member Board of Directors who will represent a combination of funding representatives, neighborhood constituents, service consultants and elected officials.
7 Operations
Reinforcing the Marketing Strategy, TREC will have an office, meeting facility, and resource library located on Monroe Avenue.
Staffing will be led by a part-time Executive Director and volunteers that will be reinforced by student interns and coops solicited from the local universities and colleges. Although the primary mission will be economic development, an important side benefit will be the experiential learning opportunities that will be made available to the students.
8 Finances
Estimated operating costs for the part-time Director and related operating expenses are in the range of $40,000 - $50,000 per year. The primary source of these funds will be grants and donations, but some is anticipated as commissions earned on real estate transactions as well as an administrative fee on grants managed by the Director for TRECís constituents.
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