- June 23, 2021
- Posted by: Stratford Team
- Category: Business
BUFFALO, N.Y. (WKBW) — Starting a new business is expensive.
According to Ellicott Development, the median cost of opening a dining establishment in the U.S. is about $275,000, but that number can easily soar into the millions for larger cities.
“When businesses are struggling to get off the ground, some of the biggest burdens are rent and just filing financing,” said Eamon Riley, Director of Development at Character.
To help prospective business owners who may have struggled to get started during the pandemic, property company Character announced a competition.
The prize: one year of free rent.
The parcel, located at 808.5 Main Street is right between two recently renovated historic brick buildings.
The business plan competition allows applicants to bring their ideas to life, with supportive resources, and without worrying about rent.
“We feel that offering the one year of free rent could be a huge burden lifting off somebody, to give them the bandwidth…
