Retail Challenge offers extra incentives for WSU students

Today is the final day for applicants to enter the Ogden City Corporation sponsored Ogden Retail Challenge. Applicants must submit a viable business plan with intentions of implementing it in the Downtown Ogden Central Business District (CBA) area. The contest is open to the public and current businesses that may be expanding or relocating into the CBA. Applicants may submit more than one business proposal, but prizes will be awarded to one individual applicant. The first-place winner will receive $10,000, and second and third $5,000. In order to receive the prize, money winners will have to obtain the proper credentials for their business plan, such as a business license, and comply with city rules, regulations, and zoning laws within the Central Business District.

Winners must also secure financing for their plans and, if needed, Ogden City will help provide that service.

In an news release about the event, Mayor Godfrey said, "Ogden has a history of having some of the most unique and successful retail anywhere. This competition should help us identify the next generation of retailers for downtown."

He also stated in the release, "We believe consumers are looking for a new retail experience and we are confident we have the entrepreneurs and great ideas to facilitate such an experience.  Downtown Ogden is the perfect home for unique, specialty retail."

The John B. Goddard School for Business & Economics at Weber State University is providing an extra incentive for students with a prize enhancement. If the winner of the competition is a student who is enrolled and is a declared business major at the John B. Goddard School for Business & Economics, then WSU will add $5000 to the first-prize award. The students business plan must use sustainable business practices and the plan will be reviewed for Goddard School faculty sustainability experts' approval.

Dean of the John B. Goddard School of Business & Economics Lewis R. Gale said, "The school has wanted to do a competition in the past and did hold one last year and will hold more in the future."

Upon hearing of the Ogden Retail Challenge, which is not connected with WSU, Gale contacted the mayor's office and partnered with the competition to "foster more innovation and opportunities for entrepreneurs" and the Goddard school sustainability initiative, he said. Gale added that a competition like this is "the best way to support what we are doing with sustainability."

Sustainability, he said "is an operation that does not compromise resources," and incorporates what is called "triple bottom line" of a business, bringing profit to an area, is sound, and valuable.

A Service Corps of Retired Executives (SCORE) counselor must review applications for content and format prior to acceptance. After being accepted, a three- member Retail Advisory Board will judge the submissions. Six finalists will be chosen and contacted by September 5, 2008. The three final winners will be notified on or before September 29. The winning business plans will be the ones considered to bring the largest business to the Ogden Central Business District.

According to Jeanne Harris of the Business Information Center, as of 10 a.m. on September 2, 22 people have applied. Ogden City Project Coordinator Kamie Geiger is heading up the Retail Challenge and has not received any student applications.

Harris said the deadline will be moved up to September 3 because the WSU semester began during the week of the original due date. For more information about the Ogden Retail Challenge visit www.ogdencity.com