FAQ’s

1. Who is eligible to apply for adoption?

Entrepreneurs who believe they can grow their businesses with the help of local business experts may apply. Applications will be judged on existing sales, market share, business originality and the potential for success of the business. The ultimate goal is to increase sales, create jobs and give back to other small business owners.

2. Is there a cost for the adopted business?

No, there is no financial commitment to retain the support and help of the experts involved with Adopt a Small Business. The experts are donating their time and expertise. The selected business will be responsible for hard costs associated with approved activities, such as printing or advertising. To help offset those costs, Adopt a Small Business is asking for corporate donations.

3. What is the obligation of the adopted business?

The obligation is to commit to the program and be passionate about improving the business with the help of the local experts.

4. How long is the program?

The program is a one-year commitment.

5. How does the selection process work?

The business that is adopted is going to be selected on certain criteria including existing sales, years in business, projected sales, market share, business originality and the potential success of the business. In addition, the business owner must demonstrate a passion for the work they do and the direction they want to take the business.

6. Why are the experts donating their time?

The experts have been very successful in their respected fields. They also believe that “giving back” is the right thing to do. They are also honest and smart enough to admit that they believe that the adage, “the more you give, the more you get” couldn’t be more true.

7. Why does the program need sponsors and donors?

Although the experts are donating their services (time and expertise), it’s expected there will be hard costs associated with the business plan developed by the experts. Examples of these hard costs are printing, stock photo purchases for websites and sales materials, membership dues and advertising.

8. Does the business have to be local?

Yes, the entrepreneur must be local enough to meet regularly in person with the local experts.  The meeting location is based in Phoenix, Arizona.

9. What are the criteria used to determine the business that will be adopted?

The application will include questions about existing sales, projected sales, current debt load, number of employees, current assets, business goals, description of product and/or services, desired customer and reason for starting business. There is no minimum sales since the type of business can dictate the revenues, but there is an expectation that sales have been generated. For the first year of the program, no start-up business will be selected.