Join us in creating economic prosperity for Black San Franciscans.
The Black-Led Marketplace is an initiative by SFHDC’s Fillmore Small Business Empowerment Hub (“The Hub”). The Hub was founded to assist neighborhood entrepreneurs in obtaining technical assistance related to business plans, licenses and permits, marketing and communications, and renting affordable spaces so they can offer goods and services that are culturally relevant to their communities.
Slated to open in the Fall of 2022, the marketplace will be offering affordable retail space in the Fillmore District to Black-owned businesses. You can be a part of this empowering project with the support of your donations. Your contributions will go towards the transformation of a former Money-Mart into a neighborhood destination. Renovations needed include interior demolition to maximize the retail footprint and create an open floor plan, significant required upgrades to mechanical, electrical, and plumbing, and ADA accessibility. Join us!
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WE SIGNED A LEASE!
SFHDC is fundraising to build a marketplace showcasing talented, hyperlocal Black entrepreneurs at 1567 Fillmore Street.
SFHDC and our funding partners will transform a former Money Mart into a 1,500-square-foot retail space at 1567 Fillmore Street. Join us in creating a marketplace for Black economic prosperity. At the highly visible corner of Fillmore Street and Geary Boulevard, the marketplace will offer vending opportunities for Bay Area artisans, and a wide array of goods to attract local shoppers and tourists to the Lower Fillmore.
COVID-19 has provided a once-in-a-generation opening to reimagine how retail meets evolving consumer preferences, such as representation and inclusivity in retail.
The Fillmore’s history as a thriving Black business district, and its current high concentration of Black consumers compared to other San Francisco neighborhoods, make it an ideal location to launch a Black-led marketplace that is a testament to community-driven development and economic equity.
SFHDC has secured an initial 10-year lease with two, five-year renewal options, guaranteeing access to affordable commercial retail for businesses for the next decade, and beyond.
SAN FRANCISCO BLACK-LED MARKETPLACE OFFERS
Cultural + Artisanal Goods for Consumers
Consumers get a localized shopping experience with clothing, jewelry, and home goods from trendsetting, Bay Area designers
In-store classes, community events, and an emphasis on customer service will attract consumers and build brand loyalty
A Model for Equitable Development
Offers a national example of community-driven economic development that creates community healing, unity, and resiliency
All businesses participate in SFHDC’s 12-week business training program, and receive ongoing technical assistance and grant funds to support their growth
With funding from the City of San Francisco, SFHDC offers subsidized rent for businesses to lower overhead costs and improve their financial returns
Access to Market Opportunities
11 businesses receive long-term, designated retail space; plus additional pop-up spaces and e-commerce opportunities for an additional 20+ vendors
All of SFHDC’s retail and economic development efforts are viewed through the lens of community development and grounded in the goals of serving neighborhood stakeholders, providing access to opportunity for entrepreneurs and meeting the demand for equity among communities of color.
The marketplace will feature the Bay Area’s best existing and up-and-coming Black businesses like:
BUSINESS FINANCIAL PROJECTIONS
Monthly In-store Sales
BUSINESSES RETAIN 100% OF SALES REVENUE
Monthly Online Sales
BUSINESSES RETAIN 90 – 100% OF SALES REVENUE MINUS TRANSACTION FEES
INCLUDES RENT, HOURLY SALES PERSONS, AND COMMON AREA MAINTENANCE FEES
The marketplace serves 11 businesses and operates 7 days per week, 10 hours per day. It conducts an average of $142 in transactions per hour, with peak sales occurring on weekends, seasonally, and during in-store events.
PREPARING BUSINESSES FOR SUCCESS
All businesses will receive the following business development services at the marketplace:
- Enrollment in SFHDC’s 12-week “Minding My Black-Owned Business” development program
- Business and Financial Planning
- Accounting and Bookkeeping
- Marketing Strategy
- Retail Fundamentals
- $7,500 in Grant Funds
- Ongoing one-on-one technical assistance with industry experts
- Merchandising and Signage
- Inventory and Sales Management
- Support identifying and applying for additional small business grants
- Robust digital marketing and online advertising
FUNDING SOURCES FOR ONE-TIME CAPITAL EXPENSES
The City of San Francisco has committed multi-year funding to the initiative to help subsidize program salaries, rent, and small business mini-grants ($1.4 MM), and one-time expenses like design services, equipment, and furniture ($220,000).
City of San Francisco
Design Services; Furniture, Fixtures, and Equipment
Foundations, Individual Donors,
Construction Materials and Labor
|Detailed project budget available upon request.|
Request for Funding:
We are seeking additional funding from private foundations, financial institutions, individual donors, and other sources of funding from the City to renovate the space. Please contact Pia Harris at firstname.lastname@example.org if you would like to learn more about funding this project.
One-time construction costs include interior demolition to maximize the retail footprint and create an open floor plan, and significant upgrades to mechanical, electrical, and plumbing.
This funding investment will provide meaningful economic opportunities and visibility in San Francisco’s notoriously restrictive commercial retail market for Black-owned businesses for at least a decade.
Naming Opportunities Available.