Free store up for grabs

DBIA bringing Win This Space entrepreneurial contest back for a second year

The Downtown Business Improvement Area is giving away a storefront rent-free for a year, again.

The DBIA launched its second Win This Space retail contest Tuesday.

The winner gets a downtown store front rent-free for 12 months, along with more than $40,000 in prizes to help get them up and running.

It’s open to retail entrepreneurs, new or existing, who’re looking to take their business to the next level.

But it’ll take more than just a great business idea to earn a contestant the top spot, said Terry Guiel, DBIA executive director. It’ll take personality.

“We also want to see personalities because we believe that our downtown business owners are the reason people come to the downtown because they get that personal service,” Guiel said.

To apply, contest enthusiasts need to create a one- to three-minute video explaining their business and submit it online. Applications will be accepted until Nov. 25.

From there, contest officials will narrow it down to the top 10. Those finalists will then participate in a handful of workshops including financial forecasting, marketing and business planning.

Guiel said it’s important for the top 10 to learn those skill sets so they’re equipped to open up shop regardless of who wins.

“We don’t just anticipate the winner opening,” Guiel said.

Last year’s contest garnered 41 applications. And all of the top five are now working towards opening a store, if they haven’t already, Guiel said.

Two past contestants from the top five even teamed up to see their businesses come to life. Erin Watson and Anna Eidt partnered to create Watson and Lou, an artsy storefront and studio space on Water Street.

After a successful pilot run, Guiel is expecting even more entries this year.

The winner will be announced March 1, after being selected by a panel of entrepreneurs.

Then they’ll get to pick their space – one of several vacant storefronts downtown – breathing new life into the city’s core.

Win This Space is a DBIA initiative created in partnership with Peterborough Economic Development, StartUp Peter borough, Community Futures Peterborough and Shorelines Slots at Kawartha Downs.

NOTE: To enter the contest, go to www.winthisspace.com