Recommendations / Economic Development / Big Idea #3: Restaurant Incubator / Food Hall

Big Idea #3: Restaurant Incubator / Food Hall

Part of the "MONROE MAKERS" initiative

Economic DevelopmentMonroe-Walton $250,000–$500,000

Overview

Create and sustain a collaborative community food and drink environment that improves the perception and accessibility of Monroe for food and drink entrepreneurs. The initiative proposes a Food Hall/Incubator in downtown Monroe, using available historic mill space or a similar location, to provide lower-risk, lower-cost startup space for new restaurants. The Food Hall would include shared kitchen space, four to six individual restaurant stalls, local events, business incubation through Monroe Makerspace and the Entrepreneurship Core, partnership with Athens Technical College’s Culinary Arts program, and streamlined mobile food options for food trucks and food carts.

Action plan

Short-term
Develop an advisory committee that reflects the full community and can determine appropriate events showcasing musical, artistic, food, and drink talents. Offer an online and paper packet one-stop-shop for food entrepreneurs seeking resources to establish a food truck or food cart. Conduct outreach to local community centers and places of worship to share available food entrepreneurship resources.
Medium-term
Provide business incubation services and restauranteur mentorship. Support local food-related and ancillary events that promote Monroe as a “foodie” community. Work through Monroe Makerspace and the Entrepreneurship Core to provide business coaching and help food and drink startups grow toward standalone restaurant viability.
Long-term
Work with community members and investors to develop a Food Hall/Incubator in or near downtown Monroe. Partner with Athens Technical College’s Culinary Program to lease one vendor stall in the food hall for a student-led venture. Continue creating affordable startup pathways for diverse food entrepreneurs and attract new food concepts to the community.

Expected impact

Projected Small Business DiversityEconomic

Tracks increased diversity of small business owners participating in or benefiting from the Food Hall/Incubator concept.

Timeframe: Long-term
Projected Restaurant Failure ReductionEconomic

Tracks whether the lower-risk, lower-cost startup environment helps reduce turnover in stand-alone restaurants.

Timeframe: Long-term
Projected Food Hall DevelopmentInfrastructure

Tracks whether the Food Hall/Incubator is developed in or near downtown Monroe.

Timeframe: Long-term
Projected Food and Entertainment OfferingsCommunity

Tracks increased food and entertainment offerings available to community members and visitors.

Timeframe: Medium-term
Projected Culinary Program PartnershipEducational

Tracks partnership with Athens Technical College Culinary Program for a student-led vendor stall.

Timeframe: Long-term
Projected Traffic to Neighboring AttractionsEconomic

Tracks increased traffic and time spent at neighboring attractions connected to the Food Hall/Incubator.

Timeframe: Long-term

Key stakeholders

Local Places of Worship and Other Nonprofits with Access to Commercial KitchensAthens Technical CollegeWalton MillMonroe Downtown Development AuthorityCity of MonroeChamber and Development AuthorityFlavors of GeorgiaFood Product Innovation and Commercialization Center

Estimated budget

Local food-related events: $3,000-$30,000 per event. Online mobile food startup portal: $0-$3,000. Food Hall: $250,000+.