We’ve covered the Hormel Business Plan Competition in the past. The headline caught my attention because some of my entrepreneurship students presented a plan for a movie theatre, brew pub last semester and it was a great plan and presentation.
From the story about The Loop Brewery Co., the winner of the 2010 Hormel Business Plan Competititon:
Tyler Ray Loop and his wife, Tyler Sue Loop won over the judges in the 2010 Hormel Business Plan Competition with their plan for a brew pub and restaurant. The Loop Brewery Co. will receive a $25,000 investment and other support, and, if all goes as planned, could be open in an A Street location in McCook by November.
Initial plans call for the brewery to operate seven barrels, each capable of producing 31 gallons of craft beer at a time. Besides watching the brewers in action, guests can enjoy a meal, enjoy a pint on tap or take home the product in growlers, five-gallon or 15-gallon kegs, Loop told the panel.
Other finalists making a presentation Friday at McCook Community College included Daniel Russo of L.E. Green Bags LLC, who hoped to produce reusable shopping bags that would appeal to men; Charlie McPherson whose “New Beginnings” would buy and sell gently used infant toys, clothes and maternity wear; and Daniel and Danielle McCarville, with Tyler Richardson, who offered a plan for “The Cornerstone” coffee shop, to be located in the newly remodeled Keystone Hotel and offer fresh-roasted coffee, catering and lunches while appealing to youth and adults.
I love the diversity of the businesses presented, and like chili, not of them demand a PhD in engineering. Moreover, its clear that no matter how much the press, researchers, and others focus on big financing, many of our highest impact firms start with little capital and a simple, straightforward product and service.
For more on the business plan competition.