The widespread success of food trucks has inspired other business owners to take their concepts on the road. Mobile boutiques let aspiring entrepreneurs turn trucks into shops and boutiques with less cost and risk than a traditional brick-and-mortar MEMMobile is an innovative program from the City of Memphis, the Mayor’s Innovation Delivery Team, and Communities Unlimited (formerly known as alt.Consulting) that gives Memphis more diverse retail options and promotes small, locally-owned businesses.
The MEMMobile Program:
- MEMMobile contributes up to $15,000 in forgivable loans to five mobile businesses. In order to be eligible for this funding opportunity, successful applicants have equity of 25% of total costs.
- Grants of up to $5,000 per retailer available to partner with a local artist/designer to design and build-out the mobile retail unit. This aspect of the program promotes local artists and helps beautify public space in the City of Memphis.
- In addition to the financial incentives, Communities Unlimited (formerly known as alt.Consulting), a local small-business adviser and lender, is providing ongoing consultation and support to the business owners throughout the duration of the pilot program phase.
The MEMMobile program included five forgivable loans to start up mobile retail businesses, which were selected through a competitive request for proposals (RFP) process.
MEMMobile Pilot Trucks: